Signaturefd LLC Trims Holdings in Valley National Bancorp (NASDAQ:VLY)

Signaturefd LLC lowered its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 25.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,913 shares of the company’s stock after selling 1,698 shares during the period. Signaturefd LLC’s holdings in Valley National Bancorp were worth $45,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Retirement Systems of Alabama boosted its stake in shares of Valley National Bancorp by 0.3% in the first quarter. Retirement Systems of Alabama now owns 535,546 shares of the company’s stock valued at $4,263,000 after purchasing an additional 1,435 shares during the period. Diversified Trust Co boosted its position in Valley National Bancorp by 11.1% in the 2nd quarter. Diversified Trust Co now owns 14,317 shares of the company’s stock valued at $100,000 after buying an additional 1,435 shares during the period. Blue Trust Inc. grew its stake in shares of Valley National Bancorp by 48.2% in the third quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock worth $44,000 after acquiring an additional 1,564 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Valley National Bancorp by 46.4% during the third quarter. GAMMA Investing LLC now owns 6,791 shares of the company’s stock worth $62,000 after acquiring an additional 2,151 shares during the period. Finally, Ignite Planners LLC increased its position in shares of Valley National Bancorp by 3.4% during the third quarter. Ignite Planners LLC now owns 65,107 shares of the company’s stock worth $590,000 after acquiring an additional 2,170 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Trading Up 1.1 %

NASDAQ:VLY opened at $9.69 on Thursday. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.50. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.22. The stock’s 50 day moving average price is $8.85 and its 200 day moving average price is $7.94. The company has a market capitalization of $4.93 billion, a PE ratio of 15.63 and a beta of 1.08.

Valley National Bancorp (NASDAQ:VLY) last announced its earnings results on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $467.87 million. During the same period last year, the firm posted $0.26 earnings per share. On average, research analysts anticipate that Valley National Bancorp will post 0.67 EPS for the current year.

Valley National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $0.11 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.54%. Valley National Bancorp’s payout ratio is 70.97%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VLY. JPMorgan Chase & Co. boosted their target price on Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. StockNews.com lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Piper Sandler boosted their price target on shares of Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Barclays lifted their price objective on shares of Valley National Bancorp from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Finally, Wedbush reissued a “neutral” rating and issued a $10.00 target price on shares of Valley National Bancorp in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Valley National Bancorp presently has an average rating of “Hold” and a consensus price target of $9.63.

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.