Valley National Bancorp $VLY Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC decreased its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 20.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,095 shares of the company’s stock after selling 8,072 shares during the period. Janney Montgomery Scott LLC’s holdings in Valley National Bancorp were worth $287,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Signaturefd LLC increased its stake in Valley National Bancorp by 23.2% during the 2nd quarter. Signaturefd LLC now owns 6,895 shares of the company’s stock valued at $62,000 after buying an additional 1,297 shares during the period. Wedge Capital Management L L P NC boosted its position in shares of Valley National Bancorp by 4.9% during the 2nd quarter. Wedge Capital Management L L P NC now owns 3,810,868 shares of the company’s stock valued at $34,031,000 after purchasing an additional 179,146 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Valley National Bancorp by 14.9% during the 1st quarter. Voya Investment Management LLC now owns 643,898 shares of the company’s stock valued at $5,724,000 after purchasing an additional 83,573 shares in the last quarter. Strs Ohio bought a new position in shares of Valley National Bancorp during the 1st quarter valued at about $420,000. Finally, Intech Investment Management LLC boosted its position in shares of Valley National Bancorp by 40.7% during the 1st quarter. Intech Investment Management LLC now owns 502,987 shares of the company’s stock valued at $4,472,000 after purchasing an additional 145,549 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Valley National Bancorp Stock Performance

Shares of VLY opened at $9.80 on Monday. Valley National Bancorp has a one year low of $7.48 and a one year high of $11.16. The company has a 50-day moving average of $10.45 and a two-hundred day moving average of $9.45. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 12.56 and a beta of 1.12. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.97 and a quick ratio of 0.97.

Valley National Bancorp (NASDAQ:VLY) last announced its earnings results on Thursday, July 24th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.22 by $0.01. Valley National Bancorp had a net margin of 12.87% and a return on equity of 5.89%. The company had revenue of $495.01 million during the quarter, compared to analysts’ expectations of $495.79 million. During the same period last year, the company posted $0.13 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities research analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, September 15th. Valley National Bancorp’s dividend payout ratio (DPR) is currently 56.41%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on VLY shares. TD Cowen started coverage on shares of Valley National Bancorp in a research report on Thursday, September 25th. They set a “buy” rating and a $14.00 price objective for the company. Truist Financial raised their price objective on shares of Valley National Bancorp from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, September 12th. National Bankshares set a $14.00 price objective on shares of Valley National Bancorp in a research report on Monday, September 29th. Royal Bank Of Canada raised their price objective on shares of Valley National Bancorp from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Finally, Cantor Fitzgerald started coverage on shares of Valley National Bancorp in a research report on Wednesday, September 10th. They set an “overweight” rating and a $12.00 price objective for the company. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Valley National Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $12.68.

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.