EMC Capital Management Takes $104,000 Position in Valley National Bancorp $VLY

EMC Capital Management bought a new position in Valley National Bancorp (NASDAQ:VLY) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,675 shares of the company’s stock, valued at approximately $104,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Valley National Bancorp in the 1st quarter worth approximately $35,000. Atlantic Union Bankshares Corp purchased a new position in shares of Valley National Bancorp in the second quarter valued at $39,000. Hantz Financial Services Inc. increased its position in Valley National Bancorp by 11,831.1% in the second quarter. Hantz Financial Services Inc. now owns 5,369 shares of the company’s stock worth $48,000 after purchasing an additional 5,324 shares during the last quarter. Signaturefd LLC raised its stake in Valley National Bancorp by 23.2% during the second quarter. Signaturefd LLC now owns 6,895 shares of the company’s stock valued at $62,000 after purchasing an additional 1,297 shares in the last quarter. Finally, Brighton Jones LLC bought a new position in Valley National Bancorp during the second quarter valued at $95,000. 61.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

VLY has been the topic of a number of research reports. TD Cowen boosted their target price 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. Truist Financial lifted their price target on Valley National Bancorp from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Keefe, Bruyette & Woods upped their price objective on Valley National Bancorp from $11.50 to $12.00 and gave the company a “market perform” rating in a research report on Friday, October 24th. Wall Street Zen raised Valley National Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd. Finally, Janney Montgomery Scott raised Valley National Bancorp to a “strong-buy” rating in a research report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Valley National Bancorp currently has an average rating of “Buy” and a consensus target price of $13.25.

Valley National Bancorp Trading Up 0.6%

VLY opened at $10.52 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.97 and a current ratio of 0.97. The stock’s 50 day moving average price is $10.70 and its 200-day moving average price is $9.84. Valley National Bancorp has a one year low of $7.48 and a one year high of $11.35. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 11.95 and a beta of 1.17.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly 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 $511.08 million during 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 quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $0.18 EPS. On average, equities analysts forecast that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be issued a $0.11 dividend. The ex-dividend date 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 is presently 50.00%.

Valley National Bancorp 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.