Valley National Bancorp $VLY Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 15.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,696 shares of the company’s stock after purchasing an additional 11,393 shares during the quarter. Teacher Retirement System of Texas’ holdings in Valley National Bancorp were worth $756,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. AQR Capital Management LLC increased its stake in Valley National Bancorp by 101.5% during the 1st quarter. AQR Capital Management LLC now owns 10,218,329 shares of the company’s stock valued at $89,308,000 after buying an additional 5,147,786 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Valley National Bancorp by 43.4% in the first quarter. Goldman Sachs Group Inc. now owns 10,214,867 shares of the company’s stock valued at $90,810,000 after acquiring an additional 3,091,169 shares in the last quarter. Nuveen LLC acquired a new position in shares of Valley National Bancorp during the first quarter valued at approximately $15,890,000. Millennium Management LLC raised its holdings in Valley National Bancorp by 55.2% during the first quarter. Millennium Management LLC now owns 4,802,445 shares of the company’s stock worth $42,694,000 after purchasing an additional 1,708,364 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Valley National Bancorp by 4.8% in the first quarter. Dimensional Fund Advisors LP now owns 30,040,885 shares of the company’s stock worth $267,054,000 after purchasing an additional 1,377,676 shares during the period. Institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Trading Up 2.3%

NASDAQ:VLY opened at $11.05 on Friday. The stock has a fifty day simple moving average of $10.68 and a 200 day simple moving average of $9.71. The firm has a market capitalization of $6.18 billion, a price-to-earnings ratio of 12.56 and a beta of 1.17. Valley National Bancorp has a 1-year low of $7.48 and a 1-year high of $11.35. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.40.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. Valley National Bancorp had a net margin of 14.86% and a return on equity of 6.67%. The company had revenue of $511.08 million during the quarter, compared to analyst estimates of $511.47 million. During the same period in the prior year, the firm earned $0.18 earnings per share. The business’s quarterly revenue was up 8.5% on a year-over-year basis. Sell-side analysts forecast that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Monday, December 15th. Valley National Bancorp’s dividend payout ratio is 50.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada lifted their price target on Valley National Bancorp from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Zacks Research raised Valley National Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. JPMorgan Chase & Co. boosted their price target on shares of Valley National Bancorp from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Cantor Fitzgerald upped their price target on shares of Valley National Bancorp from $12.00 to $15.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Finally, Janney Montgomery Scott raised shares of Valley National Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $13.25.

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.