Public Employees Retirement System of Ohio Has $1.52 Million Stock Holdings in Valley National Bancorp $VLY

Public Employees Retirement System of Ohio decreased its position in shares of Valley National Bancorp (NASDAQ:VLY) by 23.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,477 shares of the company’s stock after selling 38,017 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Valley National Bancorp were worth $1,516,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Cedar Mountain Advisors LLC acquired a new stake in Valley National Bancorp in the first quarter worth $26,000. Assetmark Inc. grew its holdings in shares of Valley National Bancorp by 123.7% in the 1st quarter. Assetmark Inc. now owns 2,150 shares of the company’s stock valued at $26,000 after buying an additional 1,189 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Valley National Bancorp in the 4th quarter valued at $26,000. First Horizon Corp increased its position in shares of Valley National Bancorp by 52.5% in the 4th quarter. First Horizon Corp now owns 3,219 shares of the company’s stock valued at $38,000 after buying an additional 1,108 shares in the last quarter. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Valley National Bancorp in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

Valley National Bancorp Price Performance

Shares of NASDAQ VLY opened at $14.29 on Monday. The company has a fifty day moving average price of $14.32 and a 200 day moving average price of $13.33. The firm has a market cap of $7.92 billion, a PE ratio of 12.11 and a beta of 1.04. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35. Valley National Bancorp has a 1-year low of $8.95 and a 1-year high of $15.20.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.01). The firm had revenue of $560.74 million during the quarter, compared to analyst estimates of $557.16 million. Valley National Bancorp had a net margin of 19.49% and a return on equity of 9.13%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 EPS. Research analysts predict that Valley National Bancorp will post 1.28 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a dividend of $0.11 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.1%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 37.29%.

Insider Transactions at Valley National Bancorp

In other Valley National Bancorp news, CAO Mitchell L. Crandell sold 25,495 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $14.63, for a total value of $372,991.85. Following the sale, the chief accounting officer owned 76,116 shares in the company, valued at approximately $1,113,577.08. The trade was a 25.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on VLY shares. Cantor Fitzgerald lifted their target price on Valley National Bancorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Weiss Ratings restated a “buy (b)” rating on shares of Valley National Bancorp in a report on Monday, July 6th. Royal Bank Of Canada raised their price target on Valley National Bancorp from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. National Bank Financial set a $17.50 price objective on Valley National Bancorp in a report on Wednesday, July 1st. Finally, Piper Sandler lifted their price objective on Valley National Bancorp from $16.00 to $16.50 and gave the company an “overweight” rating in a report on Friday, June 26th. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.03.

Valley National Bancorp Profile

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.