MQS Management LLC Has $271,000 Stake in Valley National Bancorp $VLY

MQS Management LLC decreased its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 68.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 23,236 shares of the company’s stock after selling 49,388 shares during the period. MQS Management LLC’s holdings in Valley National Bancorp were worth $271,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of VLY. Azora Capital LP acquired a new stake in shares of Valley National Bancorp during the 3rd quarter worth approximately $103,120,000. UBS Group AG grew its position in shares of Valley National Bancorp by 404.7% during the 3rd quarter. UBS Group AG now owns 5,867,611 shares of the company’s stock worth $62,197,000 after buying an additional 4,704,971 shares during the period. Holocene Advisors LP acquired a new stake in shares of Valley National Bancorp during the 3rd quarter worth approximately $34,593,000. Artemis Investment Management LLP grew its position in shares of Valley National Bancorp by 252.9% during the 4th quarter. Artemis Investment Management LLP now owns 3,910,203 shares of the company’s stock worth $45,671,000 after buying an additional 2,802,080 shares during the period. Finally, Freestone Grove Partners LP acquired a new stake in shares of Valley National Bancorp during the 3rd quarter worth approximately $27,607,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

Valley National Bancorp Price Performance

Shares of NASDAQ:VLY opened at $13.55 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35. The stock’s fifty day simple moving average is $12.85 and its two-hundred day simple moving average is $12.32. Valley National Bancorp has a 1-year low of $8.36 and a 1-year high of $14.12. The stock has a market cap of $7.51 billion, a PE ratio of 12.21 and a beta of 1.04.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.02. Valley National Bancorp had a return on equity of 8.68% and a net margin of 18.61%.The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $531.89 million. During the same period last year, the business earned $0.18 EPS. As a group, analysts forecast that Valley National Bancorp will post 1.29 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be paid a dividend of $0.11 per share. The ex-dividend date is Monday, June 15th. This represents a $0.44 annualized dividend and a yield of 3.2%. Valley National Bancorp’s dividend payout ratio (DPR) is 39.64%.

Insiders Place Their Bets

In other Valley National Bancorp news, COO Russell Barrett sold 90,537 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $13.54, for a total transaction of $1,225,870.98. Following the transaction, the chief operating officer directly owned 64,167 shares in the company, valued at approximately $868,821.18. This trade represents a 58.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on VLY. Cantor Fitzgerald raised their price objective on shares of Valley National Bancorp from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Barclays raised their price objective on shares of Valley National Bancorp from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Raymond James Financial raised 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 report on Friday, January 30th. JPMorgan Chase & Co. raised their price objective on shares of Valley National Bancorp from $14.50 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $15.00 target price (up from $14.00) on shares of Valley National Bancorp in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.10.

About Valley National Bancorp

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.