Virtu Financial LLC purchased a new stake in Valley National Bancorp (NYSE:VLY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,366 shares of the financial services provider’s stock, valued at approximately $206,000.
Several other large investors have also recently modified their holdings of VLY. BlackRock Inc. lifted its position in shares of Valley National Bancorp by 3.9% in the 4th quarter. BlackRock Inc. now owns 32,104,862 shares of the financial services provider’s stock valued at $360,216,000 after acquiring an additional 1,193,479 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Valley National Bancorp by 57.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,552,764 shares of the financial services provider’s stock valued at $18,711,000 after acquiring an additional 566,827 shares in the last quarter. Maltese Capital Management LLC purchased a new stake in shares of Valley National Bancorp in the 4th quarter valued at approximately $5,615,000. JPMorgan Chase & Co. lifted its position in shares of Valley National Bancorp by 235.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 504,776 shares of the financial services provider’s stock valued at $6,057,000 after acquiring an additional 354,251 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Valley National Bancorp by 78.2% in the 3rd quarter. Prudential Financial Inc. now owns 691,144 shares of the financial services provider’s stock valued at $8,328,000 after acquiring an additional 303,260 shares in the last quarter. Institutional investors and hedge funds own 51.42% of the company’s stock.
Several equities research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Valley National Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, March 8th. ValuEngine upgraded shares of Valley National Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Piper Jaffray Companies upgraded shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $13.50 price target for the company in a research report on Friday, January 5th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $15.00 price target on shares of Valley National Bancorp in a research report on Friday, December 22nd. Finally, Hovde Group restated a “buy” rating and issued a $14.00 price target on shares of Valley National Bancorp in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Valley National Bancorp has a consensus rating of “Hold” and an average target price of $13.64.
Valley National Bancorp stock opened at $13.04 on Thursday. The firm has a market cap of $4,320.47, a P/E ratio of 22.48 and a beta of 0.93. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.98 and a quick ratio of 0.98. Valley National Bancorp has a 12 month low of $10.61 and a 12 month high of $13.38.
Valley National Bancorp (NYSE:VLY) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The firm had revenue of $199.57 million for the quarter, compared to analyst estimates of $194.26 million. Valley National Bancorp had a net margin of 17.08% and a return on equity of 8.20%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 EPS. equities research analysts expect that Valley National Bancorp will post 0.89 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.44 annualized dividend and a yield of 3.37%. Valley National Bancorp’s dividend payout ratio is presently 75.86%.
In related news, Director Peter J. Baum acquired 3,433 shares of the company’s stock in a transaction on Monday, January 29th. The shares were purchased at an average price of $12.70 per share, for a total transaction of $43,599.10. Following the purchase, the director now owns 41,086 shares in the company, valued at $521,792.20. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.45% of the stock is currently owned by corporate insiders.
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About Valley National Bancorp
Valley National Bancorp operates as the holding company for the Valley National Bank that provides commercial, retail, trust, and investment services. The company operates through Commercial Lending, Consumer Lending, and Investment Management segments. Its deposit products include non-interest bearing, savings, NOW, and money market deposits, as well as certificates of deposit.
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