Valley National Bancorp (NASDAQ:VLY) Shares Purchased by Fmr LLC

Fmr LLC raised its holdings in Valley National Bancorp (NASDAQ:VLY) by 105.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,146 shares of the company’s stock after acquiring an additional 16,529 shares during the quarter. Fmr LLC’s holdings in Valley National Bancorp were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new position in shares of Valley National Bancorp in the 3rd quarter worth $25,000. Innealta Capital LLC acquired a new position in shares of Valley National Bancorp in the 2nd quarter valued at $38,000. Blue Trust Inc. increased its stake in Valley National Bancorp by 48.2% in the 3rd quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock worth $44,000 after purchasing an additional 1,564 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in Valley National Bancorp by 416.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 6,201 shares of the company’s stock worth $56,000 after buying an additional 5,001 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Valley National Bancorp by 46.4% during the third quarter. GAMMA Investing LLC now owns 6,791 shares of the company’s stock valued at $62,000 after buying an additional 2,151 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

VLY has been the topic of several analyst reports. Barclays lifted their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Royal Bank of Canada boosted their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. StockNews.com cut Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Wedbush reissued a “neutral” rating and set a $10.00 price target on shares of Valley National Bancorp in a research report on Friday, October 25th. Finally, Morgan Stanley raised their price objective on Valley National Bancorp from $9.50 to $10.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.00.

Valley National Bancorp Trading Up 1.7 %

Shares of NASDAQ VLY opened at $9.16 on Friday. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 14.77 and a beta of 1.09. The business has a 50 day simple moving average of $9.94 and a 200 day simple moving average of $8.61. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.97 and a current ratio of 0.99. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.18.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. The company had revenue of $921.22 million for the quarter, compared to analyst estimates of $467.87 million. During the same quarter in the prior year, the business posted $0.26 EPS. On average, research analysts predict that Valley National Bancorp will post 0.65 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.11 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.80%. Valley National Bancorp’s dividend payout ratio is currently 70.97%.

About Valley National Bancorp

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, private banking, retail, insurance, and wealth management financial services products. It operates through Consumer Banking, Commercial Banking, and Treasury and Corporate other segments.