New York State Teachers Retirement System Purchases 2,791 Shares of Valley National Bancorp (NASDAQ:VLY)

New York State Teachers Retirement System lifted its position in shares of Valley National Bancorp (NASDAQ:VLY) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 281,539 shares of the company’s stock after buying an additional 2,791 shares during the period. New York State Teachers Retirement System owned about 0.06% of Valley National Bancorp worth $2,551,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of VLY. State of Alaska Department of Revenue boosted its holdings in Valley National Bancorp by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 49,422 shares of the company’s stock worth $447,000 after purchasing an additional 3,370 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Valley National Bancorp by 18.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 42,549 shares of the company’s stock worth $385,000 after buying an additional 6,521 shares during the last quarter. PFG Investments LLC acquired a new position in shares of Valley National Bancorp during the 3rd quarter worth about $131,000. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Valley National Bancorp by 7.6% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 30,419 shares of the company’s stock valued at $276,000 after acquiring an additional 2,154 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Valley National Bancorp by 557.0% in the third quarter. International Assets Investment Management LLC now owns 8,679 shares of the company’s stock valued at $79,000 after acquiring an additional 7,358 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on VLY. StockNews.com cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price objective on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Morgan Stanley upped their target price on shares of Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Barclays upgraded Valley National Bancorp from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $9.00 to $10.00 in a report on Thursday, October 31st. Finally, Royal Bank of Canada upped their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $9.75.

Valley National Bancorp Trading Down 4.5 %

Shares of NASDAQ:VLY opened at $10.05 on Friday. The business’s 50 day simple moving average is $8.96 and its 200 day simple moving average is $8.02. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.22. 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 company has a market capitalization of $5.12 billion, a P/E ratio of 16.21 and a beta of 1.07.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, hitting 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 in the prior year, the business posted $0.26 earnings per share. On average, research analysts anticipate that Valley National Bancorp will post 0.66 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.11 per share. The ex-dividend date was Friday, September 13th. This represents a $0.44 annualized dividend and a dividend yield of 4.38%. Valley National Bancorp’s dividend payout ratio is currently 70.97%.

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.