Valley National Bancorp $VLY Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd grew its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 35.9% during the third quarter, Holdings Channel.com reports. The firm owned 487,330 shares of the company’s stock after buying an additional 128,865 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Valley National Bancorp were worth $5,166,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VLY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Valley National Bancorp by 5.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 282,143 shares of the company’s stock valued at $2,508,000 after acquiring an additional 15,771 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Valley National Bancorp during the 1st quarter valued at $191,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Valley National Bancorp by 21.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,445,644 shares of the company’s stock valued at $12,852,000 after buying an additional 255,870 shares during the period. Focus Partners Wealth grew its holdings in Valley National Bancorp by 34.9% during the first quarter. Focus Partners Wealth now owns 60,868 shares of the company’s stock worth $541,000 after acquiring an additional 15,761 shares during the period. Finally, Signaturefd LLC boosted its position in shares of 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 purchasing an additional 1,297 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors.

Valley National Bancorp Stock Performance

VLY opened at $11.91 on Friday. The stock has a 50-day moving average of $11.66 and a 200-day moving average of $10.76. Valley National Bancorp has a 52-week low of $7.48 and a 52-week high of $12.68. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $6.64 billion, a PE ratio of 13.53 and a beta of 1.09.

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

Analysts Set New Price Targets

Several research firms have issued reports on VLY. Morgan Stanley upped their price target on Valley National Bancorp from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Zacks Research downgraded shares of Valley National Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Keefe, Bruyette & Woods raised their target price on Valley National Bancorp from $11.50 to $12.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th. JPMorgan Chase & Co. raised their price objective on Valley National Bancorp from $14.00 to $14.50 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Finally, Wall Street Zen raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.