Vise Technologies Inc. Acquires Shares of 21,953 Valley National Bancorp $VLY

Vise Technologies Inc. bought a new stake in Valley National Bancorp (NASDAQ:VLY) during the 2nd quarter, Holdings Channel reports. The firm bought 21,953 shares of the company’s stock, valued at approximately $196,000.

A number of other institutional investors have also modified their holdings of VLY. Universal Beteiligungs und Servicegesellschaft mbH grew its position in Valley National Bancorp by 1.0% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 365,196 shares of the company’s stock valued at $3,247,000 after buying an additional 3,439 shares during the last quarter. KLP Kapitalforvaltning AS boosted its holdings in shares of Valley National Bancorp by 13.4% in the first quarter. KLP Kapitalforvaltning AS now owns 97,140 shares of the company’s stock valued at $873,000 after acquiring an additional 11,500 shares in the last quarter. Readystate Asset Management LP boosted its holdings in shares of Valley National Bancorp by 41.7% in the first quarter. Readystate Asset Management LP now owns 64,263 shares of the company’s stock valued at $571,000 after acquiring an additional 18,918 shares in the last quarter. SYM FINANCIAL Corp increased its stake in shares of Valley National Bancorp by 21.1% during the first quarter. SYM FINANCIAL Corp now owns 26,102 shares of the company’s stock worth $232,000 after acquiring an additional 4,547 shares during the period. Finally, Abel Hall LLC purchased a new position in Valley National Bancorp during the first quarter worth about $112,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on VLY shares. Keefe, Bruyette & Woods lifted their price objective on Valley National Bancorp from $11.50 to $12.00 and gave the company a “market perform” rating in a report on Friday, October 24th. Barclays restated a “positive” rating on shares of Valley National Bancorp in a research report on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Valley National Bancorp in a research note on Wednesday, October 8th. TD Cowen boosted their price objective on shares of Valley National Bancorp from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Valley National Bancorp from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Friday, October 24th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $13.25.

Valley National Bancorp Price Performance

Shares of NASDAQ VLY opened at $10.46 on Wednesday. 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 stock has a market cap of $5.83 billion, a price-to-earnings ratio of 11.89 and a beta of 1.17. The company’s 50-day moving average price is $10.71 and its 200 day moving average price is $9.83. Valley National Bancorp has a 52 week low of $7.48 and a 52 week high of $11.35.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.02. The firm had revenue of $511.08 million during the quarter, compared to the consensus estimate of $511.47 million. Valley National Bancorp had a return on equity of 6.67% and a net margin of 14.86%.The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 EPS. As a group, 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.2%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 50.00%.

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.