Valley National Bancorp (NASDAQ:VLY) Shares Bought by Creative Planning

Creative Planning boosted its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 30.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 63,665 shares of the company’s stock after purchasing an additional 14,794 shares during the period. Creative Planning’s holdings in Valley National Bancorp were worth $577,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Innealta Capital LLC acquired a new position in shares of Valley National Bancorp in the second quarter worth about $38,000. EntryPoint Capital LLC purchased a new position in shares of Valley National Bancorp in the 1st quarter valued at about $43,000. Hexagon Capital Partners LLC raised its holdings in Valley National Bancorp by 416.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 6,201 shares of the company’s stock worth $56,000 after purchasing an additional 5,001 shares during the period. GAMMA Investing LLC boosted its position in 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 purchasing an additional 2,151 shares in the last quarter. Finally, Wolverine Asset Management LLC grew its holdings in Valley National Bancorp by 147.7% in the second quarter. Wolverine Asset Management LLC now owns 9,325 shares of the company’s stock valued at $65,000 after purchasing an additional 5,560 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Stock Performance

NASDAQ VLY opened at $9.36 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.97 and a current ratio of 0.99. The stock’s fifty day moving average is $8.90 and its two-hundred day moving average is $7.99. The firm has a market capitalization of $4.77 billion, a P/E ratio of 15.10 and a beta of 1.06. Valley National Bancorp has a fifty-two week low of $6.47 and a fifty-two week high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last posted 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. The company had revenue of $921.22 million for the quarter, compared to analyst estimates of $467.87 million. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. During the same period in the previous year, the business posted $0.26 EPS. On average, research analysts anticipate that Valley National Bancorp will post 0.67 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors 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 annualized dividend and a yield of 4.70%. Valley National Bancorp’s dividend payout ratio (DPR) is currently 70.97%.

Wall Street Analysts Forecast Growth

VLY has been the subject of several recent analyst reports. StockNews.com lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Wedbush reissued a “neutral” rating and set a $10.00 target price on shares of Valley National Bancorp in a research note on Friday, October 25th. Piper Sandler upped their price target on shares of Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods lifted their price objective on Valley National Bancorp from $8.00 to $8.50 and gave the stock a “market perform” rating in a report on Friday, July 26th. Finally, Barclays raised Valley National Bancorp from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $9.00 to $10.00 in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Valley National Bancorp has an average rating of “Hold” and an average target price of $9.75.

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.