91,380 Shares in Valley National Bancorp $VLY Bought by Pacer Advisors Inc.

Pacer Advisors Inc. purchased a new stake in shares of Valley National Bancorp (NASDAQ:VLY) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 91,380 shares of the company’s stock, valued at approximately $969,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp acquired a new position in shares of Valley National Bancorp in the 2nd quarter valued at about $39,000. Hantz Financial Services Inc. increased its position in Valley National Bancorp by 11,831.1% during the 2nd 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 in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Valley National Bancorp by 244.7% in the second quarter. EverSource Wealth Advisors LLC now owns 5,884 shares of the company’s stock valued at $53,000 after buying an additional 4,177 shares during the period. Signaturefd LLC lifted its position 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 buying an additional 1,297 shares in the last quarter. Finally, Vident Advisory LLC purchased a new stake in Valley National Bancorp during the second quarter worth approximately $93,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Valley National Bancorp Stock Performance

NASDAQ:VLY opened at $11.69 on Friday. The firm has a 50-day moving average of $11.35 and a two-hundred day moving average of $10.45. 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 cap of $6.52 billion, a P/E ratio of 13.28 and a beta of 1.09. Valley National Bancorp has a 1-year low of $7.48 and a 1-year high of $12.18.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings results on Thursday, October 23rd. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. The business had revenue of $511.08 million for the quarter, compared to analysts’ expectations of $511.47 million. Valley National Bancorp had a return on equity of 6.67% and a net margin of 14.86%.The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 earnings per share. On average, research analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, December 15th. Valley National Bancorp’s dividend payout ratio is presently 50.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Weiss Ratings raised shares of Valley National Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Keefe, Bruyette & Woods increased their price target on Valley National Bancorp from $11.50 to $12.00 and gave the company a “market perform” rating in a report on Friday, October 24th. Janney Montgomery Scott upgraded Valley National Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. Barclays reaffirmed a “positive” rating on shares of Valley National Bancorp in a research report on Wednesday, October 8th. Finally, National Bankshares set a $14.50 target price on Valley National Bancorp in a report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Valley National Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $13.43.

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.