Macquarie Group Ltd. raised its stake in Valley National Bancorp (NYSE:VLY) by 7.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,886,336 shares of the financial services provider’s stock after buying an additional 415,470 shares during the period. Macquarie Group Ltd. owned about 2.23% of Valley National Bancorp worth $70,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in VLY. American Century Companies Inc. boosted its position in Valley National Bancorp by 52.0% in the 2nd quarter. American Century Companies Inc. now owns 6,504,366 shares of the financial services provider’s stock valued at $76,817,000 after buying an additional 2,224,024 shares during the period. Principal Financial Group Inc. boosted its position in Valley National Bancorp by 185.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,230,525 shares of the financial services provider’s stock valued at $38,928,000 after buying an additional 2,099,452 shares during the period. Peregrine Capital Management LLC purchased a new stake in Valley National Bancorp in the 3rd quarter valued at about $9,222,000. Northern Trust Corp boosted its position in Valley National Bancorp by 15.0% in the 2nd quarter. Northern Trust Corp now owns 5,870,281 shares of the financial services provider’s stock valued at $69,327,000 after buying an additional 764,098 shares during the period. Finally, FMR LLC boosted its position in Valley National Bancorp by 40.6% in the 2nd quarter. FMR LLC now owns 2,122,100 shares of the financial services provider’s stock valued at $25,062,000 after buying an additional 612,334 shares during the period. 63.90% of the stock is owned by institutional investors.
Shares of Valley National Bancorp (NYSE VLY) traded up $0.07 on Monday, hitting $11.92. 2,402,954 shares of the stock traded hands, compared to its average volume of 1,854,814. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.98 and a quick ratio of 0.97. Valley National Bancorp has a 52-week low of $10.61 and a 52-week high of $12.82. The stock has a market cap of $3,130.00, a PE ratio of 16.69 and a beta of 0.89.
Valley National Bancorp (NYSE:VLY) last released its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). The business had revenue of $193.00 million during the quarter, compared to analyst estimates of $195.03 million. Valley National Bancorp had a return on equity of 8.27% and a net margin of 19.91%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.16 EPS. equities analysts expect that Valley National Bancorp will post 0.69 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Friday, December 22nd will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Thursday, December 21st. Valley National Bancorp’s dividend payout ratio is currently 64.71%.
Several equities research analysts have issued reports on the stock. Piper Jaffray Companies reissued a “neutral” rating and issued a $13.00 price objective (up from $12.00) on shares of Valley National Bancorp in a research report on Wednesday, August 9th. BidaskClub cut shares of Valley National Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $13.00 price target on shares of Valley National Bancorp in a research report on Friday, September 29th. Finally, Zacks Investment Research raised shares of Valley National Bancorp from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $12.67.
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Valley National Bancorp Company Profile
Valley National Bancorp is the bank holding company for Valley National Bank (the Bank). The Bank provides a range of commercial, retail, insurance and wealth management financial services products. The Company’s segments include Consumer Lending, Commercial Lending, Investment Management, and Corporate and Other Adjustments.
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