Sanctuary Advisors LLC Has $615,000 Stock Holdings in Valley National Bancorp (NASDAQ:VLY)

Sanctuary Advisors LLC raised its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 170.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,861 shares of the company’s stock after buying an additional 42,731 shares during the period. Sanctuary Advisors LLC’s holdings in Valley National Bancorp were worth $615,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Townsquare Capital LLC increased its holdings 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 buying an additional 1,521 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Valley National Bancorp by 48.2% during 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 during the last quarter. HighTower Advisors LLC raised its holdings in shares of Valley National Bancorp by 6.0% during the 3rd quarter. HighTower Advisors LLC now owns 31,831 shares of the company’s stock valued at $291,000 after purchasing an additional 1,806 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 valued at $62,000 after purchasing an additional 2,151 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in Valley National Bancorp by 7.6% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 30,419 shares of the company’s stock worth $276,000 after purchasing an additional 2,154 shares in the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VLY. Barclays boosted their price target on 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. JPMorgan Chase & Co. raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $10.50 to $11.00 in a research report on Monday, November 11th. Royal Bank of Canada lifted their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. StockNews.com lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Finally, Wedbush reissued a “neutral” rating and set a $10.00 target price on shares of Valley National Bancorp in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Valley National Bancorp currently has a consensus rating of “Hold” and an average target price of $10.00.

Valley National Bancorp Price Performance

NASDAQ:VLY opened at $9.23 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.97. The stock has a market cap of $4.70 billion, a P/E ratio of 14.89 and a beta of 1.09. The company has a fifty day moving average price of $9.94 and a 200 day moving average price of $8.65. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.18.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, meeting 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 business had revenue of $921.22 million during the quarter, compared to analysts’ expectations of $467.87 million. During the same quarter last year, the company earned $0.26 earnings per share. Analysts anticipate that Valley National Bancorp will post 0.65 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.77%. The ex-dividend date is Friday, December 13th. Valley National Bancorp’s payout ratio is presently 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.