Quantbot Technologies LP Trims Holdings in Valley National Bancorp $VLY

Quantbot Technologies LP reduced its position in shares of Valley National Bancorp (NASDAQ:VLY) by 10.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 605,881 shares of the company’s stock after selling 71,147 shares during the period. Quantbot Technologies LP’s holdings in Valley National Bancorp were worth $6,422,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Valley National Bancorp by 5.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 282,143 shares of the company’s stock worth $2,508,000 after acquiring an additional 15,771 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in Valley National Bancorp during the first quarter worth approximately $191,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Valley National Bancorp by 21.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,445,644 shares of the company’s stock valued at $12,852,000 after buying an additional 255,870 shares during the period. Focus Partners Wealth raised its position in shares of Valley National Bancorp by 34.9% in the 1st quarter. Focus Partners Wealth now owns 60,868 shares of the company’s stock worth $541,000 after buying an additional 15,761 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its position in Valley National Bancorp by 6.3% during the second quarter. State of New Jersey Common Pension Fund D now owns 216,737 shares of the company’s stock valued at $1,935,000 after acquiring an additional 12,890 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Insider Buying and Selling

In other Valley National Bancorp news, Director Carlos J. Vazquez acquired 2,500 shares of Valley National Bancorp stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average price of $13.45 per share, with a total value of $33,625.00. Following the purchase, the director owned 4,252 shares in the company, valued at approximately $57,189.40. This trade represents a 142.69% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.43% of the stock is owned by corporate insiders.

Valley National Bancorp Price Performance

VLY opened at $12.61 on Friday. The stock has a fifty day moving average of $12.51 and a 200-day moving average of $11.40. The firm has a market capitalization of $7.03 billion, a P/E ratio of 12.49 and a beta of 1.10. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.40. Valley National Bancorp has a 12-month low of $7.48 and a 12-month high of $13.87.

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

Valley National Bancorp Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently commented on VLY. UBS Group started coverage on shares of Valley National Bancorp in a report on Monday, December 15th. They issued a “buy” rating and a $15.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Valley National Bancorp from $14.00 to $14.50 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Citigroup reiterated a “buy” rating on shares of Valley National Bancorp in a research report on Monday, February 2nd. 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 research note on Friday, January 30th. Finally, National Bank Financial set a $16.00 price target on shares of Valley National Bancorp in a research note on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Valley National Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $14.20.

Valley National Bancorp 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.