11,061 Shares in Valley National Bancorp (NASDAQ:VLY) Acquired by Bryce Point Capital LLC

Bryce Point Capital LLC acquired a new position in Valley National Bancorp (NASDAQ:VLY) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 11,061 shares of the company’s stock, valued at approximately $109,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Valley National Bancorp by 12.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,911 shares of the company’s stock valued at $1,155,000 after acquiring an additional 14,481 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its position in Valley National Bancorp by 2.7% during the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 132,112 shares of the company’s stock valued at $1,174,000 after acquiring an additional 3,499 shares in the last quarter. Abel Hall LLC purchased a new stake in shares of Valley National Bancorp during the 1st quarter valued at $112,000. SYM FINANCIAL Corp lifted its holdings in shares of Valley National Bancorp by 21.1% during the 1st quarter. SYM FINANCIAL Corp now owns 26,102 shares of the company’s stock valued at $232,000 after purchasing an additional 4,547 shares during the last quarter. Finally, Readystate Asset Management LP lifted its holdings in shares of Valley National Bancorp by 41.7% during the 1st quarter. Readystate Asset Management LP now owns 64,263 shares of the company’s stock valued at $571,000 after purchasing an additional 18,918 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Stock Performance

NASDAQ VLY opened at $9.43 on Monday. The stock has a 50-day simple moving average of $9.07 and a two-hundred day simple moving average of $9.11. The firm has a market capitalization of $5.28 billion, a P/E ratio of 12.09 and a beta of 1.06. Valley National Bancorp has a fifty-two week low of $7.18 and a fifty-two week high of $11.10. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 0.97.

Valley National Bancorp (NASDAQ:VLY) last posted its earnings results on Thursday, July 24th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Valley National Bancorp had a return on equity of 5.89% and a net margin of 12.87%. The firm had revenue of $495.01 million for the quarter, compared to analysts’ expectations of $495.79 million. During the same period last year, the firm earned $0.13 EPS. The company’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts forecast that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend is Monday, September 15th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 56.41%.

Analysts Set New Price Targets

Several analysts have recently commented on VLY shares. Truist Financial upgraded Valley National Bancorp from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Friday. Wall Street Zen upgraded Valley National Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday. Morgan Stanley upgraded Valley National Bancorp from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $10.00 to $11.00 in a research note on Thursday, July 3rd. Royal Bank Of Canada raised their target price on Valley National Bancorp from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Barclays restated an “underweight” rating on shares of Valley National Bancorp in a research note on Tuesday, July 8th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Valley National Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $10.95.

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.