LMR Partners LLP Makes New $1.45 Million Investment in Valley National Bancorp (NASDAQ:VLY)

LMR Partners LLP bought a new position in Valley National Bancorp (NASDAQ:VLY) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 159,770 shares of the company’s stock, valued at approximately $1,448,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Valley National Bancorp in the third quarter worth $25,000. Innealta Capital LLC bought a new position in Valley National Bancorp in the 2nd quarter worth $38,000. EntryPoint Capital LLC purchased a new stake in Valley National Bancorp in the 1st quarter worth $43,000. Blue Trust Inc. raised its holdings in Valley National Bancorp by 48.2% during the third quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock valued at $44,000 after acquiring an additional 1,564 shares during the period. Finally, Hexagon Capital Partners LLC raised its holdings in Valley National Bancorp by 416.8% during the third quarter. Hexagon Capital Partners LLC now owns 6,201 shares of the company’s stock valued at $56,000 after acquiring an additional 5,001 shares during the period. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Valley National Bancorp Stock Performance

Shares of NASDAQ:VLY opened at $10.19 on Wednesday. The firm has a fifty day simple moving average of $9.28 and a two-hundred day simple moving average of $8.18. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.22. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $5.19 billion, a P/E ratio of 16.44 and a beta of 1.07.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $921.22 million for the quarter, compared to analysts’ expectations of $467.87 million. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. During the same period in the previous year, the firm posted $0.26 earnings per share. On average, analysts expect that Valley National Bancorp will post 0.66 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.44 dividend on an annualized basis and a yield of 4.32%. Valley National Bancorp’s dividend payout ratio is presently 70.97%.

Analyst Ratings Changes

VLY has been the subject of a number of recent analyst reports. Wedbush reaffirmed a “neutral” rating and issued a $10.00 price objective on shares of Valley National Bancorp in a research note on Friday, October 25th. StockNews.com downgraded Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday. Piper Sandler boosted their target price on shares of Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Barclays raised shares of Valley National Bancorp from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $9.00 to $10.00 in a research note on Thursday, October 31st. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Valley National Bancorp from $8.00 to $8.50 and gave the stock a “market perform” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Valley National Bancorp currently has an average rating of “Hold” and a consensus target price of $9.88.

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.