Quantbot Technologies LP Lowers Holdings in Valley National Bancorp (NASDAQ:VLY)

Quantbot Technologies LP decreased its position in Valley National Bancorp (NASDAQ:VLY) by 44.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 350,960 shares of the company’s stock after selling 284,424 shares during the period. Quantbot Technologies LP owned 0.07% of Valley National Bancorp worth $3,180,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Intech Investment Management LLC lifted its holdings in Valley National Bancorp by 332.7% during the third quarter. Intech Investment Management LLC now owns 163,478 shares of the company’s stock worth $1,481,000 after buying an additional 125,695 shares during the period. Victory Capital Management Inc. boosted its position in Valley National Bancorp by 1,501.7% during the 3rd quarter. Victory Capital Management Inc. now owns 5,676,685 shares of the company’s stock valued at $51,431,000 after acquiring an additional 5,322,278 shares in the last quarter. Waterfall Asset Management LLC bought a new stake in Valley National Bancorp during the 2nd quarter valued at $1,693,000. Nisa Investment Advisors LLC boosted its position in Valley National Bancorp by 34.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 156,020 shares of the company’s stock valued at $1,107,000 after acquiring an additional 39,750 shares in the last quarter. Finally, Stieven Capital Advisors L.P. boosted its position in Valley National Bancorp by 32.3% during the 2nd quarter. Stieven Capital Advisors L.P. now owns 1,100,066 shares of the company’s stock valued at $7,678,000 after acquiring an additional 268,600 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Analyst Ratings Changes

VLY has been the topic of several recent research reports. StockNews.com cut Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Wedbush reaffirmed a “neutral” rating and set a $10.00 target price on shares of Valley National Bancorp in a research report on Friday, October 25th. JPMorgan Chase & Co. raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and increased their target price for the company from $10.50 to $11.00 in a research report on Monday, November 11th. Barclays upgraded Valley National Bancorp from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $9.00 to $10.00 in a report on Thursday, October 31st. Finally, Morgan Stanley increased their price objective on Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.88.

Valley National Bancorp Stock Performance

Shares of VLY stock opened at $10.68 on Thursday. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 17.23 and a beta of 1.07. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.97. The business has a fifty day moving average of $9.51 and a 200 day moving average of $8.30. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last issued its earnings results on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. The company had revenue of $921.22 million during the quarter, compared to analyst estimates of $467.87 million. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. During the same quarter last year, the business posted $0.26 EPS. As a group, research analysts expect that Valley National Bancorp will post 0.66 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.44 dividend on an annualized basis and a yield of 4.12%. Valley National Bancorp’s dividend payout ratio (DPR) is 70.97%.

Valley National Bancorp Company Profile

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