HighTower Advisors LLC Has $291,000 Stock Holdings in Valley National Bancorp (NASDAQ:VLY)

HighTower Advisors LLC lifted its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 6.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 31,831 shares of the company’s stock after acquiring an additional 1,806 shares during the period. HighTower Advisors LLC’s holdings in Valley National Bancorp were worth $291,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in VLY. Townsquare Capital LLC raised its position in Valley National Bancorp by 11.8% in the third quarter. Townsquare Capital LLC now owns 14,365 shares of the company’s stock worth $130,000 after purchasing an additional 1,521 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Valley National Bancorp by 48.2% in the 3rd quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock valued at $44,000 after purchasing an additional 1,564 shares during the period. GAMMA Investing LLC raised its holdings in shares of Valley National Bancorp by 46.4% in the 3rd quarter. GAMMA Investing LLC now owns 6,791 shares of the company’s stock worth $62,000 after buying an additional 2,151 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Valley National Bancorp by 7.6% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 30,419 shares of the company’s stock worth $276,000 after buying an additional 2,154 shares during the period. Finally, Ignite Planners LLC boosted its stake in Valley National Bancorp by 3.4% in the 3rd quarter. Ignite Planners LLC now owns 65,107 shares of the company’s stock valued at $590,000 after buying an additional 2,170 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Valley National Bancorp Trading Down 0.5 %

Shares of NASDAQ VLY opened at $9.11 on Tuesday. Valley National Bancorp has a 1-year low of $6.47 and a 1-year high of $11.18. The company has a 50-day moving average of $9.94 and a two-hundred day moving average of $8.63. The company has a market cap of $4.64 billion, a PE ratio of 14.69 and a beta of 1.09. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.18 earnings per share 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 firm had revenue of $921.22 million during the quarter, compared to analysts’ expectations of $467.87 million. During the same quarter in the previous year, the company posted $0.26 EPS. As a group, equities analysts expect that Valley National Bancorp will post 0.65 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.83%. The ex-dividend date is Friday, December 13th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 70.97%.

Analyst Ratings Changes

Several research analysts have issued reports on VLY shares. StockNews.com lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. upgraded shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $10.50 to $11.00 in a research report on Monday, November 11th. Piper Sandler lifted their price target on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Wedbush reaffirmed a “neutral” rating and set a $10.00 price objective on shares of Valley National Bancorp in a research note on Friday, October 25th. Finally, Royal Bank of Canada lifted 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.00.

Valley National Bancorp Company Profile

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.