Valley National Bancorp $VLY Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 90.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,887 shares of the company’s stock after buying an additional 78,500 shares during the period. Handelsbanken Fonder AB’s holdings in Valley National Bancorp were worth $1,748,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Atlantic Union Bankshares Corp acquired a new position in shares of Valley National Bancorp during the 2nd quarter valued at $39,000. Hantz Financial Services Inc. raised 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 valued at $48,000 after purchasing an additional 5,324 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Valley National Bancorp by 77.4% during the third quarter. Smartleaf Asset Management LLC now owns 4,574 shares of the company’s stock worth $48,000 after purchasing an additional 1,996 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Valley National Bancorp by 244.7% during the second quarter. EverSource Wealth Advisors LLC now owns 5,884 shares of the company’s stock worth $53,000 after purchasing an additional 4,177 shares in the last quarter. Finally, Vident Advisory LLC purchased a new stake in shares of Valley National Bancorp in the second quarter worth about $93,000. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Valley National Bancorp

In other Valley National Bancorp news, Director Carlos J. Vazquez bought 2,500 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were purchased at an average price 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 of the company’s stock, valued at approximately $57,189.40. The trade was a 142.69% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.43% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on VLY shares. Cantor Fitzgerald raised their target price on Valley National Bancorp from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Tuesday. Royal Bank Of Canada lifted their price objective on shares of Valley National Bancorp from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Keefe, Bruyette & Woods upped their target price on shares of Valley National Bancorp from $12.50 to $13.00 and gave the company a “market perform” rating in a research note on Friday, January 30th. Weiss Ratings raised shares of Valley National Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Finally, Raymond James Financial upgraded shares of Valley National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $15.00 price objective on the stock in a report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $14.40.

Valley National Bancorp Trading Up 0.2%

VLY opened at $12.58 on Thursday. Valley National Bancorp has a 12-month low of $7.48 and a 12-month high of $13.87. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $6.99 billion, a PE ratio of 12.46 and a beta of 1.07. The firm’s fifty day moving average price is $12.55 and its 200 day moving average price is $11.46.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.02. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $524.31 million. Valley National Bancorp had a net margin of 17.11% and a return on equity of 7.92%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the business earned $0.13 EPS. As a group, research analysts expect that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, March 13th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 43.56%.

Valley National Bancorp Company Profile

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.