Campbell & CO Investment Adviser LLC Invests $1.17 Million in Valley National Bancorp $VLY

Campbell & CO Investment Adviser LLC acquired a new stake in Valley National Bancorp (NASDAQ:VLY) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 130,661 shares of the company’s stock, valued at approximately $1,167,000.

Several other hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in Valley National Bancorp by 4.8% in the first quarter. Dimensional Fund Advisors LP now owns 30,040,885 shares of the company’s stock valued at $267,054,000 after acquiring an additional 1,377,676 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Valley National Bancorp by 101.5% during the 1st quarter. AQR Capital Management LLC now owns 10,218,329 shares of the company’s stock valued at $89,308,000 after purchasing an additional 5,147,786 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Valley National Bancorp by 43.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 10,214,867 shares of the company’s stock valued at $90,810,000 after purchasing an additional 3,091,169 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Valley National Bancorp by 2.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,817,098 shares of the company’s stock worth $69,494,000 after purchasing an additional 204,942 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Valley National Bancorp by 15.2% during the 1st quarter. Victory Capital Management Inc. now owns 7,155,871 shares of the company’s stock worth $63,616,000 after buying an additional 944,340 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Valley National Bancorp Price Performance

Shares of VLY opened at $11.08 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.40. The company’s fifty day simple moving average is $10.71 and its 200 day simple moving average is $9.77. Valley National Bancorp has a 1-year low of $7.48 and a 1-year high of $11.35. The company has a market cap of $6.18 billion, a price-to-earnings ratio of 12.59 and a beta of 1.17.

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

Valley National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, December 15th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 50.00%.

Analyst Ratings Changes

Several research firms have recently weighed in on VLY. JPMorgan Chase & Co. upped their price target on shares of Valley National Bancorp from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Janney Montgomery Scott raised shares of Valley National Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. Jefferies Financial Group upgraded Valley National Bancorp from a “hold” rating to a “buy” rating and increased their target price for the stock from $11.00 to $14.00 in a report on Wednesday, September 24th. National Bankshares set a $15.00 price target on Valley National Bancorp in a report on Monday, October 27th. Finally, Barclays reaffirmed a “positive” rating on shares of Valley National Bancorp in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus 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.