Valley National Bancorp $VLY Shares Acquired by Endeavour Capital Advisors Inc.

Endeavour Capital Advisors Inc. lifted its position in Valley National Bancorp (NASDAQ:VLY) by 5.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,474,241 shares of the company’s stock after acquiring an additional 76,842 shares during the period. Valley National Bancorp accounts for approximately 4.7% of Endeavour Capital Advisors Inc.’s investment portfolio, making the stock its 9th biggest holding. Endeavour Capital Advisors Inc.’s holdings in Valley National Bancorp were worth $15,627,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rothschild Investment LLC grew its stake in Valley National Bancorp by 1,192.8% during the 3rd quarter. Rothschild Investment LLC now owns 12,669 shares of the company’s stock valued at $134,000 after purchasing an additional 11,689 shares during the last quarter. M&G PLC lifted its holdings in shares of Valley National Bancorp by 3.3% during the third quarter. M&G PLC now owns 1,063,427 shares of the company’s stock worth $11,698,000 after purchasing an additional 34,196 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its position in Valley National Bancorp by 0.9% in the third quarter. Northwestern Mutual Investment Management Company LLC now owns 107,294 shares of the company’s stock valued at $1,137,000 after buying an additional 951 shares during the last quarter. State of New Jersey Common Pension Fund D increased its holdings in Valley National Bancorp by 1.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 219,738 shares of the company’s stock worth $2,329,000 after buying an additional 3,001 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Valley National Bancorp by 85.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 90,281 shares of the company’s stock worth $957,000 after buying an additional 41,682 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Insiders Place Their Bets

In related news, Director Carlos J. Vazquez acquired 2,500 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were acquired at an average cost of $13.45 per share, with a total value of $33,625.00. Following the completion of the acquisition, the director directly owned 4,252 shares in the company, valued at approximately $57,189.40. This trade represents a 142.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barclays upped their price objective on shares of Valley National Bancorp from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. UBS Group initiated coverage on Valley National Bancorp in a research report on Monday, December 15th. They set a “buy” rating and a $15.00 price target on the stock. Cantor Fitzgerald lifted their price objective on Valley National Bancorp from $12.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. JPMorgan Chase & Co. boosted their price objective on Valley National Bancorp from $14.00 to $14.50 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Finally, Janney Montgomery Scott upgraded Valley National Bancorp to a “strong-buy” rating in a research report on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Valley National Bancorp currently has an average rating of “Moderate Buy” and an average target price of $14.20.

Valley National Bancorp Price Performance

Shares of Valley National Bancorp stock opened at $13.27 on Thursday. The firm has a market cap of $7.40 billion, a PE ratio of 13.14 and a beta of 1.10. Valley National Bancorp has a twelve month low of $7.48 and a twelve month high of $13.87. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average price of $12.35 and a 200 day moving average price of $11.22.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings data on Thursday, January 29th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. The company had revenue of $541.25 million for the quarter, compared to analyst estimates of $524.31 million. Valley National Bancorp had a return on equity of 7.92% and a net margin of 17.11%.Valley National Bancorp’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the company earned $0.13 earnings per share. Sell-side analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

About Valley National Bancorp

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.