First Eagle Investment Management LLC Has $7.89 Million Stock Position in Valley National Bancorp $VLY

First Eagle Investment Management LLC decreased its position in Valley National Bancorp (NASDAQ:VLY) by 11.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 883,800 shares of the company’s stock after selling 109,000 shares during the quarter. First Eagle Investment Management LLC owned about 0.16% of Valley National Bancorp worth $7,892,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in VLY. Dimensional Fund Advisors LP grew its position in shares of Valley National Bancorp by 4.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 30,040,885 shares of the company’s stock worth $267,054,000 after purchasing an additional 1,377,676 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Valley National Bancorp by 101.5% in the first quarter. AQR Capital Management LLC now owns 10,218,329 shares of the company’s stock valued at $89,308,000 after buying an additional 5,147,786 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Valley National Bancorp by 43.4% in the first quarter. Goldman Sachs Group Inc. now owns 10,214,867 shares of the company’s stock valued at $90,810,000 after buying an additional 3,091,169 shares during the period. Charles Schwab Investment Management Inc. grew its position in Valley National Bancorp by 2.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 7,817,098 shares of the company’s stock worth $69,494,000 after buying an additional 204,942 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Valley National Bancorp by 15.2% during the first quarter. Victory Capital Management Inc. now owns 7,155,871 shares of the company’s stock worth $63,616,000 after buying an additional 944,340 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. National Bankshares set a $15.00 target price on Valley National Bancorp in a research report on Monday, October 27th. Citigroup raised Valley National Bancorp from a “neutral” rating to a “buy” rating and boosted their price target for the company from $10.00 to $13.50 in a research note on Monday, September 15th. Hovde Group assumed coverage on shares of Valley National Bancorp in a research report on Wednesday, September 10th. They set an “outperform” rating and a $12.50 price objective for the company. Keefe, Bruyette & Woods increased their price objective on shares of Valley National Bancorp from $11.50 to $12.00 and gave the stock a “market perform” rating in a research note on Friday, October 24th. Finally, TD Cowen raised their target price on shares of Valley National Bancorp from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, October 27th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Valley National Bancorp presently has an average rating of “Buy” and a consensus price target of $13.25.

Valley National Bancorp Stock Up 2.3%

NASDAQ:VLY opened at $11.05 on Friday. Valley National Bancorp has a one year low of $7.48 and a one year high of $11.35. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $6.18 billion, a PE ratio of 12.56 and a beta of 1.17. The firm’s 50 day simple moving average is $10.68 and its 200 day simple moving average is $9.71.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings results on Thursday, October 23rd. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. The firm had revenue of $511.08 million during the quarter, compared to the consensus estimate of $511.47 million. Valley National Bancorp had a net margin of 14.86% and a return on equity of 6.67%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 earnings per share. On average, research analysts anticipate 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 Friday, January 2nd. Shareholders of record on Monday, December 15th will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, December 15th. This represents a $0.44 annualized dividend and a yield of 4.0%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 50.00%.

About Valley National Bancorp

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.