25,130 Shares in Valley National Bancorp (NASDAQ:VLY) Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new stake in Valley National Bancorp (NASDAQ:VLY) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 25,130 shares of the company’s stock, valued at approximately $184,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC raised its holdings in shares of Valley National Bancorp by 193.2% during the second quarter. AQR Capital Management LLC now owns 10,173,791 shares of the company’s stock worth $69,233,000 after acquiring an additional 6,703,552 shares during the period. Millennium Management LLC raised its stake in shares of Valley National Bancorp by 995.0% in the 2nd quarter. Millennium Management LLC now owns 2,775,698 shares of the company’s stock valued at $19,374,000 after purchasing an additional 2,522,204 shares during the period. Stieven Capital Advisors L.P. bought a new stake in shares of Valley National Bancorp in the first quarter valued at about $6,618,000. BNP Paribas Financial Markets boosted its position in shares of Valley National Bancorp by 378.4% during the first quarter. BNP Paribas Financial Markets now owns 612,314 shares of the company’s stock worth $4,874,000 after buying an additional 484,332 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in shares of Valley National Bancorp by 461.7% during the second quarter. Point72 Asset Management L.P. now owns 567,303 shares of the company’s stock worth $3,960,000 after buying an additional 466,303 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Keefe, Bruyette & Woods boosted their target price on Valley National Bancorp from $8.00 to $8.50 and gave the company a “market perform” rating in a research note on Friday, July 26th. Wedbush increased their target price on shares of Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Morgan Stanley lifted their price target on shares of 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. JPMorgan Chase & Co. increased their price objective on shares of Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, StockNews.com downgraded Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.88.

Valley National Bancorp Trading Down 1.4 %

Valley National Bancorp stock opened at $9.38 on Monday. The stock has a 50-day simple moving average of $8.66 and a 200 day simple moving average of $7.84. The stock has a market capitalization of $4.78 billion, a P/E ratio of 13.21 and a beta of 1.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 0.99. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last issued its earnings results on Thursday, July 25th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.07). Valley National Bancorp had a return on equity of 6.53% and a net margin of 10.79%. The business had revenue of $884.68 million for the quarter, compared to the consensus estimate of $458.67 million. During the same quarter in the prior year, the firm posted $0.28 earnings per share. Analysts expect that Valley National Bancorp will post 0.7 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend was Friday, September 13th. Valley National Bancorp’s payout ratio is 61.97%.

Valley National Bancorp 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.