Valley National Bancorp $VLY Shares Sold by SYM FINANCIAL Corp

SYM FINANCIAL Corp decreased its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 15.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,180 shares of the company’s stock after selling 3,922 shares during the quarter. SYM FINANCIAL Corp’s holdings in Valley National Bancorp were worth $198,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in VLY. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Valley National Bancorp during the 1st quarter worth approximately $35,000. Signaturefd LLC increased its position in Valley National Bancorp by 23.2% in the second quarter. Signaturefd LLC now owns 6,895 shares of the company’s stock worth $62,000 after buying an additional 1,297 shares during the period. GAMMA Investing LLC increased its position in Valley National Bancorp by 22.4% in the first quarter. GAMMA Investing LLC now owns 9,325 shares of the company’s stock worth $83,000 after buying an additional 1,709 shares during the period. Brighton Jones LLC acquired a new stake in Valley National Bancorp in the second quarter worth $95,000. Finally, Bryce Point Capital LLC acquired a new stake in Valley National Bancorp in the first quarter worth $109,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Valley National Bancorp Stock Up 0.7%

Shares of VLY stock opened at $11.19 on Wednesday. The business’s fifty day moving average is $10.57 and its 200-day moving average is $9.57. The stock has a market cap of $6.26 billion, a PE ratio of 12.72 and a beta of 1.12. Valley National Bancorp has a 1 year low of $7.48 and a 1 year high of $11.27. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.97 and a current ratio of 0.97.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, October 23rd. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The firm had revenue of $511.11 million for the quarter, compared to analyst estimates of $511.47 million. Valley National Bancorp had a return on equity of 6.67% and a net margin of 14.86%.Valley National Bancorp’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 earnings per share. Equities analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be given a $0.11 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.44 annualized dividend and a yield of 3.9%. Valley National Bancorp’s payout ratio is 50.00%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VLY. Truist Financial increased their price objective on shares of Valley National Bancorp from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Jefferies Financial Group upgraded shares of Valley National Bancorp from a “hold” rating to a “buy” rating and raised their price target for the company from $11.00 to $14.00 in a research note on Wednesday, September 24th. Cowen restated a “buy” rating on shares of Valley National Bancorp in a research note on Monday. Morgan Stanley raised their target price on Valley National Bancorp from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Finally, Royal Bank Of Canada raised their target price on Valley National Bancorp from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.