MQS Management LLC Has $271,000 Stake in Valley National Bancorp $VLY

MQS Management LLC decreased its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 68.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,236 shares of the company’s stock after selling 49,388 shares during the quarter. MQS Management LLC’s holdings in Valley National Bancorp were worth $271,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of VLY. First Horizon Corp raised its stake in Valley National Bancorp by 52.5% during the fourth quarter. First Horizon Corp now owns 3,219 shares of the company’s stock worth $38,000 after acquiring an additional 1,108 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in Valley National Bancorp during the fourth quarter worth about $39,000. Smartleaf Asset Management LLC raised its stake in 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 acquiring an additional 1,996 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in 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 acquiring an additional 4,177 shares in the last quarter. Finally, Danske Bank A S acquired a new position in Valley National Bancorp during the third quarter worth about $55,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

VLY has been the subject of several research analyst reports. Barclays boosted their target price on Valley National Bancorp from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th. Citigroup reaffirmed a “buy” rating on shares of Valley National Bancorp in a research note on Monday, February 2nd. Hovde Group upped their price objective on Valley National Bancorp from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Piper Sandler reaffirmed an “overweight” rating and issued a $16.00 price objective (up from $15.50) on shares of Valley National Bancorp in a research note on Monday, April 27th. Finally, Royal Bank Of Canada upped their price objective on Valley National Bancorp from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $15.10.

Valley National Bancorp Stock Performance

NASDAQ:VLY opened at $13.55 on Monday. The company has a market capitalization of $7.51 billion, a PE ratio of 12.21 and a beta of 1.04. The company has a 50 day simple moving average of $12.85 and a two-hundred day simple moving average of $12.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.96 and a current ratio of 0.96. Valley National Bancorp has a fifty-two week low of $8.36 and a fifty-two week high of $14.12.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, April 23rd. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $531.89 million. Valley National Bancorp had a net margin of 18.61% and a return on equity of 8.68%. During the same quarter in the prior year, the firm posted $0.18 EPS. Research analysts anticipate that Valley National Bancorp will post 1.29 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, June 15th. Valley National Bancorp’s dividend payout ratio is currently 39.64%.

Insiders Place Their Bets

In other Valley National Bancorp news, COO Russell Barrett sold 90,537 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $13.54, for a total transaction of $1,225,870.98. Following the completion of the sale, the chief operating officer owned 64,167 shares of the company’s stock, valued at approximately $868,821.18. This represents a 58.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.06% of the company’s stock.

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.