Valley National Bancorp $VLY Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in Valley National Bancorp (NASDAQ:VLY) by 15.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,696 shares of the company’s stock after buying an additional 11,393 shares during the period. Teacher Retirement System of Texas’ holdings in Valley National Bancorp were worth $756,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in VLY. State of Michigan Retirement System increased its position in shares of Valley National Bancorp by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 113,681 shares of the company’s stock worth $1,011,000 after purchasing an additional 1,200 shares during the last quarter. Signaturefd LLC grew its stake in Valley National Bancorp by 23.2% in the second quarter. Signaturefd LLC now owns 6,895 shares of the company’s stock worth $62,000 after purchasing an additional 1,297 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Valley National Bancorp by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 133,100 shares of the company’s stock valued at $1,183,000 after buying an additional 1,300 shares during the last quarter. Forum Financial Management LP increased its holdings in Valley National Bancorp by 7.8% in the first quarter. Forum Financial Management LP now owns 19,142 shares of the company’s stock valued at $170,000 after buying an additional 1,381 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC raised its stake in Valley National Bancorp by 2.8% during the first quarter. Linden Thomas Advisory Services LLC now owns 57,456 shares of the company’s stock valued at $511,000 after buying an additional 1,576 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors.

Valley National Bancorp Stock Up 2.3%

Valley National Bancorp stock opened at $11.05 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.97 and a current ratio of 0.97. Valley National Bancorp has a one year low of $7.48 and a one year high of $11.35. The company has a 50-day simple moving average of $10.68 and a 200-day simple moving average of $9.71. The firm has a market capitalization of $6.18 billion, a P/E ratio of 12.56 and a beta of 1.17.

Valley National Bancorp (NASDAQ:VLY) last posted its earnings results on Thursday, October 23rd. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. Valley National Bancorp had a net margin of 14.86% and a return on equity of 6.67%. The firm had revenue of $511.08 million during the quarter, compared to analyst estimates of $511.47 million. During the same period in the previous year, the business posted $0.18 EPS. Valley National Bancorp’s revenue was up 8.5% on a year-over-year basis. As a group, equities analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be given a dividend of $0.11 per share. The ex-dividend date is Monday, December 15th. This represents a $0.44 annualized dividend and a dividend yield of 4.0%. Valley National Bancorp’s payout ratio is currently 50.00%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on VLY shares. Cowen reiterated a “buy” rating on shares of Valley National Bancorp in a report on Monday, October 27th. Truist Financial lifted their price objective on shares of Valley National Bancorp from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, September 12th. JPMorgan Chase & Co. increased their target price on shares of Valley National Bancorp from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Royal Bank Of Canada raised their price target on shares of Valley National Bancorp from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Valley National Bancorp in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $13.25.

Valley National Bancorp Company 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.