Intech Investment Management LLC Has $10.37 Million Holdings in Valley National Bancorp $VLY

Intech Investment Management LLC raised its holdings in Valley National Bancorp (NASDAQ:VLY) by 142.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 978,713 shares of the company’s stock after acquiring an additional 574,968 shares during the period. Intech Investment Management LLC’s holdings in Valley National Bancorp were worth $10,374,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on VLY. TD Cowen boosted their price objective on Valley National Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Weiss Ratings upgraded Valley National Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Raymond James Financial raised Valley National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a research note on Friday, January 30th. JPMorgan Chase & Co. lifted their target price on shares of Valley National Bancorp from $14.00 to $14.50 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Finally, National Bank Financial set a $16.00 target price on shares of Valley National Bancorp in a report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Valley National Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $14.20.

Valley National Bancorp Stock Performance

Shares of VLY stock opened at $13.37 on Friday. The stock has a market capitalization of $7.46 billion, a PE ratio of 13.24 and a beta of 1.10. The business’s 50 day simple moving average is $12.50 and its 200 day simple moving average is $11.37. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.97 and a quick ratio of 0.97. Valley National Bancorp has a one year low of $7.48 and a one year high of $13.87.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $524.31 million. During the same quarter in the previous year, the company earned $0.13 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, research analysts forecast that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.44 dividend on an annualized basis and a yield of 3.3%. Valley National Bancorp’s dividend payout ratio is 43.56%.

Insiders Place Their Bets

In other Valley National Bancorp news, Director Carlos J. Vazquez acquired 2,500 shares of the stock in a transaction dated Tuesday, February 17th. The stock was purchased at an average cost of $13.45 per share, with a total value of $33,625.00. Following the transaction, the director owned 4,252 shares in the company, valued at approximately $57,189.40. The trade was a 142.69% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.43% of the company’s stock.

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.