72,624 Shares in Valley National Bancorp $VLY Bought by MQS Management LLC

MQS Management LLC acquired a new position in shares of Valley National Bancorp (NASDAQ:VLY) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 72,624 shares of the company’s stock, valued at approximately $770,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Atlantic Union Bankshares Corp purchased a new position in shares of Valley National Bancorp during the second quarter worth about $39,000. Hantz Financial Services Inc. raised its stake in Valley National Bancorp by 11,831.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 5,369 shares of the company’s stock valued at $48,000 after acquiring an additional 5,324 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Valley National Bancorp by 77.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 4,574 shares of the company’s stock worth $48,000 after acquiring an additional 1,996 shares during the period. EverSource Wealth Advisors LLC lifted its position in Valley National Bancorp by 244.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,884 shares of the company’s stock worth $53,000 after acquiring an additional 4,177 shares during the period. Finally, Vident Advisory LLC purchased a new position in shares of Valley National Bancorp in the 2nd quarter valued at approximately $93,000. 61.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on VLY shares. National Bankshares set a $16.00 price target on Valley National Bancorp in a research note on Friday, January 30th. Barclays boosted their price objective on shares of Valley National Bancorp from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Friday, January 30th. TD Cowen upped their price objective on shares of Valley National Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Cantor Fitzgerald lifted their target price 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 upgraded 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, twelve have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $14.20.

Valley National Bancorp Stock Performance

NASDAQ:VLY opened at $13.62 on Wednesday. The firm’s fifty day simple moving average is $12.13 and its 200-day simple moving average is $11.06. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.40. The stock has a market cap of $7.60 billion, a PE ratio of 13.49 and a beta of 1.10. Valley National Bancorp has a fifty-two week low of $7.48 and a fifty-two week high of $13.79.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. Valley National Bancorp had a net margin of 17.11% and a return on equity of 7.92%. The firm had revenue of $541.25 million during the quarter, compared to analysts’ expectations of $524.31 million. During the same quarter last year, the business earned $0.13 earnings per share. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Company Profile

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.