Greenwich Wealth Management LLC Buys New Holdings in Valley National Bancorp (NASDAQ:VLY)

Greenwich Wealth Management LLC purchased a new position in Valley National Bancorp (NASDAQ:VLY) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,449 shares of the company’s stock, valued at approximately $95,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Valley National Bancorp by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 25,722,816 shares of the company’s stock valued at $179,537,000 after purchasing an additional 337,416 shares in the last quarter. AQR Capital Management LLC raised its stake in Valley National Bancorp by 193.2% in the second quarter. AQR Capital Management LLC now owns 10,173,791 shares of the company’s stock valued at $69,233,000 after buying an additional 6,703,552 shares in the last quarter. Millennium Management LLC lifted its holdings in Valley National Bancorp by 995.0% during the 2nd quarter. Millennium Management LLC now owns 2,775,698 shares of the company’s stock worth $19,374,000 after buying an additional 2,522,204 shares during the last quarter. Leeward Investments LLC MA boosted its position in shares of Valley National Bancorp by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 1,900,986 shares of the company’s stock worth $13,269,000 after acquiring an additional 101,099 shares in the last quarter. Finally, Stieven Capital Advisors L.P. increased its holdings in shares of Valley National Bancorp by 32.3% in the 2nd quarter. Stieven Capital Advisors L.P. now owns 1,100,066 shares of the company’s stock valued at $7,678,000 after acquiring an additional 268,600 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on VLY shares. Royal Bank of Canada boosted their target price on Valley National Bancorp from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods boosted their price objective on shares of Valley National Bancorp from $8.00 to $8.50 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Barclays upgraded shares of Valley National Bancorp from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $9.00 to $10.00 in a research note on Thursday. Piper Sandler upped their price objective on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. lifted their target price on Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $9.75.

Valley National Bancorp Stock Down 0.5 %

VLY opened at $9.42 on Friday. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.22. The business has a 50 day moving average price of $8.89 and a two-hundred day moving average price of $7.97. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.50. The company has a market cap of $4.80 billion, a PE ratio of 15.19 and a beta of 1.06.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. The firm had revenue of $921.22 million during the quarter, compared to the consensus estimate of $467.87 million. During the same period last year, the company earned $0.26 earnings per share. As a group, research analysts anticipate that Valley National Bancorp will post 0.67 EPS for the current year.

Valley National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 4.67%. The ex-dividend date of this dividend was Friday, September 13th. Valley National Bancorp’s payout ratio is 70.97%.

Valley National Bancorp Company Profile

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.