Nationwide Fund Advisors increased its stake in Valley National Bancorp (NYSE:VLY) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 687,027 shares of the financial services provider’s stock after purchasing an additional 11,747 shares during the quarter. Nationwide Fund Advisors owned about 0.26% of Valley National Bancorp worth $8,279,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Valley National Bancorp by 2.1% during the second quarter. Vanguard Group Inc. now owns 21,880,605 shares of the financial services provider’s stock worth $258,410,000 after buying an additional 448,524 shares in the last quarter. State Street Corp grew its position in Valley National Bancorp by 2.2% during the second quarter. State Street Corp now owns 15,062,116 shares of the financial services provider’s stock worth $177,885,000 after buying an additional 322,882 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Valley National Bancorp by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 12,963,108 shares of the financial services provider’s stock worth $153,096,000 after buying an additional 267,848 shares in the last quarter. American Century Companies Inc. grew its position in Valley National Bancorp by 52.0% during the second quarter. American Century Companies Inc. now owns 6,504,366 shares of the financial services provider’s stock worth $76,817,000 after buying an additional 2,224,024 shares in the last quarter. Finally, Northern Trust Corp grew its position in Valley National Bancorp by 15.0% during the second quarter. Northern Trust Corp now owns 5,870,281 shares of the financial services provider’s stock worth $69,327,000 after buying an additional 764,098 shares in the last quarter. Institutional investors own 63.90% of the company’s stock.
Valley National Bancorp (NYSE VLY) traded down $0.07 during trading on Friday, reaching $11.58. The company had a trading volume of 1,219,746 shares, compared to its average volume of 1,535,037. Valley National Bancorp has a twelve month low of $10.61 and a twelve month high of $12.82. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.97 and a current ratio of 0.98. The stock has a market capitalization of $3,079.91, a PE ratio of 16.41 and a beta of 0.89.
Valley National Bancorp (NYSE:VLY) last posted its earnings results on Wednesday, October 25th. The financial services provider reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). Valley National Bancorp had a return on equity of 8.27% and a net margin of 19.91%. The business had revenue of $193.00 million for the quarter, compared to analysts’ expectations of $195.03 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. Valley National Bancorp’s quarterly revenue was up 6.5% compared to the same quarter last year. equities research analysts predict that Valley National Bancorp will post 0.69 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Friday, December 22nd will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.80%. The ex-dividend date is Thursday, December 21st. Valley National Bancorp’s dividend payout ratio (DPR) is currently 64.71%.
Several research firms recently commented on VLY. BidaskClub cut Valley National Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Keefe, Bruyette & Woods restated a “buy” rating and set a $13.00 target price on shares of Valley National Bancorp in a research report on Friday, September 29th. Finally, Zacks Investment Research upgraded Valley National Bancorp from a “hold” rating to a “buy” rating and set a $13.00 target price 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 issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $12.67.
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Valley National Bancorp 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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