Quantbot Technologies LP Takes Position in Valley National Bancorp $VLY

Quantbot Technologies LP bought a new position in shares of Valley National Bancorp (NASDAQ:VLY) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 677,028 shares of the company’s stock, valued at approximately $6,046,000. Quantbot Technologies LP owned 0.12% of Valley National Bancorp as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Valley National Bancorp during the first quarter worth approximately $35,000. Atlantic Union Bankshares Corp acquired a new stake in Valley National Bancorp during the 2nd quarter worth approximately $39,000. Hantz Financial Services Inc. boosted its stake in Valley National Bancorp by 11,831.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 5,369 shares of the company’s stock valued at $48,000 after purchasing an additional 5,324 shares during the period. Signaturefd LLC grew its holdings in Valley National Bancorp by 23.2% in the 2nd quarter. Signaturefd LLC now owns 6,895 shares of the company’s stock valued at $62,000 after buying an additional 1,297 shares in the last quarter. Finally, Brighton Jones LLC acquired a new position in Valley National Bancorp in the 2nd quarter valued at $95,000. 61.00% of the stock is owned by institutional investors.

Valley National Bancorp Stock Performance

Shares of NASDAQ:VLY opened at $11.44 on Wednesday. Valley National Bancorp has a 1 year low of $7.48 and a 1 year high of $11.65. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 13.00 and a beta of 1.17. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.97 and a quick ratio of 0.97. The company’s 50 day simple moving average is $10.77 and its 200 day simple moving average is $9.98.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. Valley National Bancorp had a return on equity of 6.67% and a net margin of 14.86%.The company had revenue of $511.08 million for the quarter, compared to analyst estimates of $511.47 million. During the same quarter last year, the company posted $0.18 EPS. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, research analysts predict that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, December 15th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 50.00%.

Wall Street Analysts Forecast Growth

VLY has been the subject of a number of research reports. Citigroup raised Valley National Bancorp from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $10.00 to $13.50 in a report on Monday, September 15th. National Bankshares set a $15.00 target price on shares of Valley National Bancorp in a research report on Monday, October 27th. Hovde Group initiated coverage on shares of Valley National Bancorp in a research report on Wednesday, September 10th. They issued an “outperform” rating and a $12.50 price target for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Valley National Bancorp in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on Valley National Bancorp from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Valley National Bancorp currently has an average rating of “Buy” and a consensus price target of $13.25.

About Valley National Bancorp

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.