Ieq Capital LLC Makes New Investment in Valley National Bancorp $VLY

Ieq Capital LLC acquired a new position in Valley National Bancorp (NASDAQ:VLY) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 457,226 shares of the company’s stock, valued at approximately $6,698,000. Ieq Capital LLC owned about 0.08% of Valley National Bancorp as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Parallel Advisors LLC raised its position in Valley National Bancorp by 24.5% in the 4th quarter. Parallel Advisors LLC now owns 4,347 shares of the company’s stock worth $51,000 after purchasing an additional 855 shares during the period. GAMMA Investing LLC increased its holdings in shares of Valley National Bancorp by 5.7% in the second quarter. GAMMA Investing LLC now owns 15,999 shares of the company’s stock worth $234,000 after buying an additional 863 shares during the period. Bank of Montreal Can lifted its stake in shares of Valley National Bancorp by 2.1% in the 4th quarter. Bank of Montreal Can now owns 43,940 shares of the company’s stock valued at $513,000 after acquiring an additional 918 shares during the last quarter. Rothschild Investment LLC lifted its stake in shares of Valley National Bancorp by 7.3% in the 4th quarter. Rothschild Investment LLC now owns 13,592 shares of the company’s stock valued at $159,000 after acquiring an additional 923 shares during the last quarter. Finally, Vident Advisory LLC boosted its holdings in Valley National Bancorp by 9.1% during the 4th quarter. Vident Advisory LLC now owns 11,760 shares of the company’s stock valued at $137,000 after acquiring an additional 983 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Price Performance

Shares of Valley National Bancorp stock opened at $14.16 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.35. The company has a market cap of $7.82 billion, a PE ratio of 12.00 and a beta of 1.04. The business has a 50 day moving average of $14.57 and a 200 day moving average of $13.59. Valley National Bancorp has a 52 week low of $9.64 and a 52 week high of $15.20.

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

Valley National Bancorp Dividend Announcement

The business 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 of this dividend 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 payout ratio is presently 37.29%.

Insider Buying and Selling at Valley National Bancorp

In related news, CAO Mitchell L. Crandell sold 25,495 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $14.63, for a total transaction of $372,991.85. Following the transaction, the chief accounting officer owned 76,116 shares in the company, valued at $1,113,577.08. The trade was a 25.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.06% of the company’s stock.

Analyst Ratings Changes

VLY has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Valley National Bancorp in a report on Monday, July 6th. Morgan Stanley reissued a “positive” rating on shares of Valley National Bancorp in a report on Monday, June 29th. Keefe, Bruyette & Woods boosted their price objective on shares of Valley National Bancorp from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Cantor Fitzgerald upped their price objective on shares of Valley National Bancorp from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, Barclays increased their target price on shares of Valley National Bancorp from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.03.

About Valley National Bancorp

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.