Park Avenue Securities LLC Sells 3,157 Shares of Valley National Bancorp (NASDAQ:VLY)

Park Avenue Securities LLC decreased its position in shares of Valley National Bancorp (NASDAQ:VLY) by 10.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 27,334 shares of the company’s stock after selling 3,157 shares during the quarter. Park Avenue Securities LLC’s holdings in Valley National Bancorp were worth $248,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Innealta Capital LLC bought a new position in Valley National Bancorp in the 2nd quarter valued at $38,000. EntryPoint Capital LLC bought a new position in Valley National Bancorp during the 1st quarter worth approximately $43,000. Wolverine Asset Management LLC boosted its position in Valley National Bancorp by 147.7% during the 2nd quarter. Wolverine Asset Management LLC now owns 9,325 shares of the company’s stock valued at $65,000 after buying an additional 5,560 shares during the period. AE Wealth Management LLC purchased a new stake in shares of Valley National Bancorp during the second quarter worth about $81,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Valley National Bancorp in the 2nd quarter worth approximately $94,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on VLY shares. StockNews.com lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Royal Bank of Canada increased their price target on Valley National Bancorp from $8.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Morgan Stanley lifted their target price on Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Finally, Wedbush upped their price objective on Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.88.

Valley National Bancorp Trading Down 0.4 %

NASDAQ VLY opened at $9.21 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 10.84 and a beta of 1.08. The firm has a 50 day simple moving average of $8.54 and a 200-day simple moving average of $7.79. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). Valley National Bancorp had a net margin of 10.79% and a return on equity of 6.53%. The business had revenue of $884.68 million during the quarter, compared to analysts’ expectations of $458.67 million. During the same quarter in the previous year, the company posted $0.28 EPS. Equities research analysts anticipate that Valley National Bancorp will post 0.7 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend was Friday, September 13th. Valley National Bancorp’s payout ratio is currently 51.76%.

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.