Valley National Bancorp $VLY Stock Position Lowered by Paragon Capital Management Ltd

Paragon Capital Management Ltd lessened its position in Valley National Bancorp (NASDAQ:VLY) by 38.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,862 shares of the company’s stock after selling 14,569 shares during the period. Paragon Capital Management Ltd’s holdings in Valley National Bancorp were worth $204,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Valley National Bancorp by 4.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 30,040,885 shares of the company’s stock worth $267,054,000 after buying an additional 1,377,676 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Valley National Bancorp by 101.5% in the 1st quarter. AQR Capital Management LLC now owns 10,218,329 shares of the company’s stock worth $89,308,000 after buying an additional 5,147,786 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Valley National Bancorp by 43.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 10,214,867 shares of the company’s stock worth $90,810,000 after buying an additional 3,091,169 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Valley National Bancorp by 2.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,817,098 shares of the company’s stock worth $69,494,000 after buying an additional 204,942 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Valley National Bancorp by 15.2% in the 1st quarter. Victory Capital Management Inc. now owns 7,155,871 shares of the company’s stock worth $63,616,000 after buying an additional 944,340 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Stock Performance

Shares of VLY stock opened at $10.68 on Friday. Valley National Bancorp has a 1-year low of $7.48 and a 1-year high of $11.14. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 13.69 and a beta of 1.13. The stock’s fifty day simple moving average is $10.11 and its 200-day simple moving average is $9.27.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Valley National Bancorp had a return on equity of 5.89% and a net margin of 12.87%.The business had revenue of $495.01 million for the quarter, compared to the consensus estimate of $495.79 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. Valley National Bancorp’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, sell-side analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a $0.11 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.44 dividend on an annualized basis and a yield of 4.1%. Valley National Bancorp’s payout ratio is 56.41%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on VLY shares. Cowen started coverage on Valley National Bancorp in a report on Wednesday. They issued a “buy” rating on the stock. TD Cowen started coverage on Valley National Bancorp in a report on Thursday. They issued a “buy” rating and a $14.00 target price on the stock. Hovde Group started coverage on Valley National Bancorp in a report on Wednesday, September 10th. They issued an “outperform” rating and a $12.50 target price on the stock. Cantor Fitzgerald started coverage on Valley National Bancorp in a report on Wednesday, September 10th. They issued an “overweight” rating and a $12.00 target price on the stock. Finally, Royal Bank Of Canada lifted their target price on Valley National Bancorp from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Valley National Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $12.29.

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.