56,881 Shares in Valley National Bancorp $VLY Acquired by Equitable Holdings Inc.

Equitable Holdings Inc. acquired a new stake in shares of Valley National Bancorp (NASDAQ:VLY) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 56,881 shares of the company’s stock, valued at approximately $833,000.

Other hedge funds also recently bought and sold shares of the company. Jefferies Financial Group Inc. bought a new position in Valley National Bancorp in the 2nd quarter valued at $1,497,000. Public Employees Retirement System of Ohio bought a new stake in shares of Valley National Bancorp during the second quarter worth $1,799,000. Proficio Capital Partners LLC purchased a new stake in shares of Valley National Bancorp during the second quarter valued at $276,000. Corient Private Wealth LP purchased a new stake in shares of Valley National Bancorp during the second quarter valued at $623,000. Finally, Azora Capital LP bought a new position in shares of Valley National Bancorp in the second quarter worth about $150,121,000. Institutional investors own 61.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on VLY. UBS Group set a $17.00 price objective on shares of Valley National Bancorp in a research report on Tuesday, July 7th. Hovde Group raised their target price on shares of Valley National Bancorp from $16.00 to $16.50 and gave the stock an “outperform” rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. decreased their price target on shares of Valley National Bancorp from $17.50 to $17.00 and set an “overweight” rating for the company in a research note on Friday, July 24th. National Bank Financial set a $17.50 price target on Valley National Bancorp in a report on Wednesday, July 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Valley National Bancorp in a research note on Monday, July 6th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Valley National Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $16.10.

Valley National Bancorp Trading Down 0.2%

NASDAQ:VLY opened at $13.92 on Friday. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 11.80 and a beta of 1.04. Valley National Bancorp has a 52 week low of $9.64 and a 52 week high of $15.20. 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 firm has a 50 day moving average of $14.56 and a 200 day moving average of $13.61.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). Valley National Bancorp had a return on equity of 9.13% and a net margin of 19.49%.The business had revenue of $560.74 million for the quarter, compared to analyst estimates of $557.16 million. During the same period in the previous year, the company posted $0.23 earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Valley National Bancorp will post 1.27 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Valley National Bancorp’s dividend payout ratio is currently 37.29%.

Insider Transactions at Valley National Bancorp

In other Valley National Bancorp news, CAO Mitchell L. Crandell sold 25,495 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $14.63, for a total value of $372,991.85. Following the completion of the sale, the chief accounting officer directly owned 76,116 shares in the company, valued at approximately $1,113,577.08. This trade represents a 25.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.06% of the stock is owned by corporate insiders.

Valley National Bancorp 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.