Intech Investment Management LLC Acquires 574,968 Shares of Valley National Bancorp $VLY

Intech Investment Management LLC raised its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 142.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 978,713 shares of the company’s stock after purchasing an additional 574,968 shares during the quarter. Intech Investment Management LLC owned approximately 0.17% of Valley National Bancorp worth $10,374,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Valley National Bancorp by 5.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 282,143 shares of the company’s stock worth $2,508,000 after buying an additional 15,771 shares during the last quarter. Jones Financial Companies Lllp bought a new position in Valley National Bancorp in the 1st quarter valued at about $191,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Valley National Bancorp by 21.5% during 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 worth $12,852,000 after acquiring an additional 255,870 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of 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, AlphaQuest LLC grew its position in shares of Valley National Bancorp by 5.8% in the second quarter. AlphaQuest LLC now owns 49,240 shares of the company’s stock valued at $440,000 after purchasing an additional 2,704 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Valley National Bancorp Stock Up 1.5%

VLY stock opened at $13.37 on Friday. Valley National Bancorp has a 52 week low of $7.48 and a 52 week high of $13.87. The business has a 50-day simple moving average of $12.50 and a 200 day simple moving average of $11.37. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.40. The company has a market cap of $7.46 billion, a PE ratio of 13.24 and a beta of 1.10.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The firm had revenue of $541.25 million for the quarter, compared to the consensus estimate of $524.31 million. Valley National Bancorp had a net margin of 17.11% and a return on equity of 7.92%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 earnings per share. Sell-side analysts anticipate that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, March 13th. Valley National Bancorp’s dividend payout ratio (DPR) is 43.56%.

Insider Transactions at Valley National Bancorp

In other news, Director Carlos J. Vazquez acquired 2,500 shares of the stock in a transaction on Tuesday, February 17th. The stock was acquired at an average cost of $13.45 per share, for a total transaction of $33,625.00. Following the completion of the transaction, the director directly owned 4,252 shares in the company, valued at approximately $57,189.40. This trade represents a 142.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.43% of the stock is owned by company insiders.

Analyst Ratings Changes

VLY has been the subject of several research reports. Zacks Research cut Valley National Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Keefe, Bruyette & Woods increased their price objective on Valley National Bancorp from $12.50 to $13.00 and gave the stock a “market perform” rating in a research report on Friday, January 30th. Royal Bank Of Canada boosted their target price on shares of Valley National Bancorp from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Hovde Group raised their price target on shares of Valley National Bancorp from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Finally, Raymond James Financial upgraded shares of Valley National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a research note on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Valley National Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $14.20.

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.