Nisa Investment Advisors LLC Raises Share Holdings in Valley National Bancorp (NASDAQ:VLY)

Nisa Investment Advisors LLC boosted its position in Valley National Bancorp (NASDAQ:VLY – Free Report) by 34.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,020 shares of the company’s stock after acquiring an additional 39,750 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Valley National Bancorp were worth $1,107,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in VLY. International Assets Investment Management LLC raised its stake in shares of Valley National Bancorp by 986.0% in the fourth quarter. International Assets Investment Management LLC now owns 19,820 shares of the company’s stock worth $215,000 after purchasing an additional 17,995 shares in the last quarter. Strs Ohio grew its position in shares of Valley National Bancorp by 5.4% in the 4th quarter. Strs Ohio now owns 38,800 shares of the company’s stock valued at $421,000 after purchasing an additional 2,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Valley National Bancorp by 6.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 100,386 shares of the company’s stock valued at $1,090,000 after buying an additional 5,792 shares. in the last quarter. Federated Hermes Inc. increased its position in shares of Valley National Bancorp by 34.4% during the fourth quarter. Federated Hermes Inc. now owns 52,677 shares of the company’s stock worth $572,000 after buying an additional 13,484 shares in the last quarter. Finally, Xponance Inc. raised its stake in shares of Valley National Bancorp by 2.1% in the fourth quarter. Xponance Inc. now owns 62,924 shares of the company’s stock worth $683,000 after buying an additional 1,286 shares in the last quarter. 61.00% of shares are owned by institutional investors and hedge funds.

Changes in Analyst Ratings

A number of research analysts have commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Valley National Bancorp from $8.50 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Royal Bank of Canada boosted their price objective on Valley National Bancorp from $8.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Wedbush restated a “neutral” rating and set a $8.00 price objective on shares of Valley National Bancorp in a research note on Wednesday, May 22nd. Morgan Stanley upgraded Valley National Bancorp from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $8.00 to $9.50 in a research report on Monday , August 5. Finally, Barclays decreased their price target on Valley National Bancorp from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Valley National Bancorp presently has an average rating of “Hold” and an average target price of $8.67, according to MarketBeat .

Check out the latest stock analysis on VLY

Valley National Bancorp trading down 0.2%

NASDAQ VLY opened at $8.21 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99, and a debt-to-equity ratio of 0.51. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.22. The company’s fifty-day simple moving average is $7.51, and its 200-day simple moving average is $7.64. The company has a market cap of $4.18 billion, a PE ratio of 9.66 and a beta of 1.08.

Valley National Bancorp (NASDAQ:VLY – Get Free Report ) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.07). The firm had revenue of $884.68 million during the quarter, compared to the consensus estimate of $458.67 million. Valley National Bancorp had a net margin of 10.79% and a return on equity of 6.53%. During the same period in the previous year, the firm posted EPS of $0.28. As a group, sell-side analysts anticipate that Valley National Bancorp will post 0.7 earnings per share for the current fiscal year.

Valley National Bancorp announces dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, September 13. This represents a dividend of $0.44 on an annualized basis and a dividend yield of 5.36%. Valley National Bancorp’s dividend yield is currently 51.76%.

Insider buying and selling

In other news, EVP Joseph Chillura sold 10,000 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $6.57, for a total value of $65,700.00. Following the sale, the executive vice president now directly owns 545,249 shares of the company’s stock, valued at $3,582,285.93. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. 1.88% of shares are currently held by corporate insiders.

About Valley National Bancorp

(Free report)

Valley National Bancorp operates as the holding company for Valley National Bank, which provides various commercial financial services, private banking, retail, insurance and wealth management products. It operates through Consumer Banking, Commercial Banking and Treasury and Corporate segments.

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