Kovitz Investment Group Partners LLC Has $179,000 Stock Holdings in Valley National Bancorp (NASDAQ:VLY)

Kovitz Investment Group Partners LLC boosted its stake in Valley National Bancorp (NASDAQ:VLY) by 14.6% during the third quarter, Holdings Channel reports. The institutional investor owned 20,337 shares of the company’s stock after buying an additional 2,585 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Valley National Bancorp were worth $179,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Kestra Investment Management LLC acquired a new stake in shares of Valley National Bancorp during the third quarter worth $515,000. Intech Investment Management LLC raised its stake in Valley National Bancorp by 332.7% in the 3rd quarter. Intech Investment Management LLC now owns 163,478 shares of the company’s stock worth $1,481,000 after purchasing an additional 125,695 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Valley National Bancorp by 1,501.7% in the 3rd quarter. Victory Capital Management Inc. now owns 5,676,685 shares of the company’s stock valued at $51,431,000 after purchasing an additional 5,322,278 shares during the period. Waterfall Asset Management LLC acquired a new position in shares of Valley National Bancorp during the 2nd quarter worth approximately $1,693,000. Finally, Pathstone Holdings LLC increased its holdings in shares of Valley National Bancorp by 44.7% during the third quarter. Pathstone Holdings LLC now owns 231,591 shares of the company’s stock worth $2,098,000 after purchasing an additional 71,553 shares during the period. 61.00% of the stock is owned by institutional investors.

Valley National Bancorp Stock Up 0.3 %

VLY stock opened at $10.13 on Friday. The firm has a 50-day moving average price of $9.88 and a 200-day moving average price of $8.52. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.22. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $5.16 billion, a P/E ratio of 16.34 and a beta of 1.09.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. The business had revenue of $921.22 million during the quarter, compared to the consensus estimate of $467.87 million. During the same quarter in the prior year, the firm earned $0.26 EPS. As a group, equities research analysts anticipate that Valley National Bancorp will post 0.65 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend is Friday, December 13th. Valley National Bancorp’s dividend payout ratio (DPR) is 70.97%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on VLY shares. JPMorgan Chase & Co. upgraded Valley National Bancorp from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $10.50 to $11.00 in a research note on Monday, November 11th. Piper Sandler upped their target price on Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Royal Bank of Canada boosted their price target on Valley National Bancorp from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Morgan Stanley increased their price objective on shares of Valley National Bancorp from $9.50 to $10.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Finally, Wedbush restated a “neutral” rating and issued a $10.00 target price on shares of Valley National Bancorp in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Valley National Bancorp presently has an average rating of “Hold” and an average price target of $10.00.

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.