Public Employees Retirement System of Ohio Has $1.52 Million Position in Valley National Bancorp $VLY

Public Employees Retirement System of Ohio cut its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 23.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 123,477 shares of the company’s stock after selling 38,017 shares during the period. Public Employees Retirement System of Ohio’s holdings in Valley National Bancorp were worth $1,516,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of VLY. Marshall Wace LLP boosted its stake in shares of Valley National Bancorp by 1,013.8% during the 4th quarter. Marshall Wace LLP now owns 6,831,049 shares of the company’s stock worth $79,787,000 after buying an additional 6,217,716 shares during the last quarter. Norges Bank acquired a new stake in shares of Valley National Bancorp in the fourth quarter valued at about $71,554,000. UBS Group AG raised its holdings in Valley National Bancorp by 404.7% during the third quarter. UBS Group AG now owns 5,867,611 shares of the company’s stock worth $62,197,000 after acquiring an additional 4,704,971 shares in the last quarter. Squarepoint Ops LLC grew its stake in Valley National Bancorp by 260.8% in the fourth quarter. Squarepoint Ops LLC now owns 5,239,435 shares of the company’s stock valued at $61,197,000 after purchasing an additional 3,787,203 shares in the last quarter. Finally, Artemis Investment Management LLP grew its stake in Valley National Bancorp by 252.9% in the fourth quarter. Artemis Investment Management LLP now owns 3,910,203 shares of the company’s stock valued at $45,671,000 after purchasing an additional 2,802,080 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Valley National Bancorp Stock Performance

Shares of Valley National Bancorp stock opened at $14.29 on Monday. The business has a fifty day simple moving average of $14.32 and a two-hundred day simple moving average of $13.33. Valley National Bancorp has a 1 year low of $8.95 and a 1 year high of $15.20. The company has a market capitalization of $7.92 billion, a price-to-earnings ratio of 12.11 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.96 and a quick ratio of 0.96.

Valley National Bancorp (NASDAQ:VLY) last announced its earnings results on Thursday, July 23rd. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.01). Valley National Bancorp had a return on equity of 9.13% and a net margin of 19.49%.The company had revenue of $560.74 million for the quarter, compared to the consensus estimate of $557.16 million. During the same period in the previous year, the firm posted $0.23 EPS. The business’s quarterly revenue was up 13.3% on a year-over-year basis. Research analysts forecast that Valley National Bancorp will post 1.28 EPS for the current year.

Valley National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.11 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.1%. Valley National Bancorp’s dividend payout ratio (DPR) is 37.29%.

Insider Transactions at Valley National Bancorp

In other Valley National Bancorp news, CAO Mitchell L. Crandell sold 25,495 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $14.63, for a total value of $372,991.85. Following the transaction, the chief accounting officer directly owned 76,116 shares of the company’s stock, valued at $1,113,577.08. This represents a 25.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on VLY. National Bank Financial set a $17.50 target price on shares of Valley National Bancorp in a research note on Wednesday, July 1st. Cantor Fitzgerald upped their price target on shares of Valley National Bancorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Morgan Stanley reiterated a “positive” rating on shares of Valley National Bancorp in a research note on Monday, June 29th. Weiss Ratings restated a “buy (b)” rating on shares of Valley National Bancorp in a research note on Monday, July 6th. Finally, Royal Bank Of Canada upped their target price on shares of Valley National Bancorp from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Valley National Bancorp has a consensus rating of “Moderate Buy” and an average price target of $16.03.

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.