Quantbot Technologies LP Trims Stock Position in Valley National Bancorp (NASDAQ:VLY)

Quantbot Technologies LP lowered its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 44.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 350,960 shares of the company’s stock after selling 284,424 shares during the period. Quantbot Technologies LP’s holdings in Valley National Bancorp were worth $3,180,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in shares of Valley National Bancorp during the 3rd quarter valued at about $25,000. Blue Trust Inc. grew its position in shares of Valley National Bancorp by 48.2% during the 3rd quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock valued at $44,000 after acquiring an additional 1,564 shares during the period. Innealta Capital LLC acquired a new stake in shares of Valley National Bancorp during the 2nd quarter valued at about $38,000. Hexagon Capital Partners LLC grew its position in shares of Valley National Bancorp by 416.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 6,201 shares of the company’s stock valued at $56,000 after acquiring an additional 5,001 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Valley National Bancorp by 46.4% during the 3rd quarter. GAMMA Investing LLC now owns 6,791 shares of the company’s stock valued at $62,000 after acquiring an additional 2,151 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Valley National Bancorp Stock Down 0.1 %

VLY stock opened at $10.68 on Thursday. The firm has a market cap of $5.44 billion, a PE ratio of 17.23 and a beta of 1.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.97 and a current ratio of 0.99. The firm’s 50 day moving average price is $9.51 and its 200-day moving average price is $8.30. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The firm had revenue of $921.22 million for the quarter, compared to analyst estimates of $467.87 million. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. During the same quarter in the previous year, the company earned $0.26 EPS. On average, equities research analysts anticipate that Valley National Bancorp will post 0.66 EPS for the current year.

Valley National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Friday, December 13th. Valley National Bancorp’s payout ratio is presently 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.