Police & Firemen s Retirement System of New Jersey Has $969,000 Stock Position in Valley National Bancorp $VLY

Police & Firemen s Retirement System of New Jersey grew its position in Valley National Bancorp (NASDAQ:VLY) by 5.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,498 shares of the company’s stock after purchasing an additional 5,680 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Valley National Bancorp were worth $969,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Valley National Bancorp in the first quarter worth approximately $35,000. Atlantic Union Bankshares Corp acquired a new position in shares of Valley National Bancorp during the 2nd quarter worth $39,000. Hantz Financial Services Inc. increased its stake in shares of 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 worth $48,000 after purchasing an additional 5,324 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Valley National Bancorp by 23.2% during the 2nd quarter. Signaturefd LLC now owns 6,895 shares of the company’s stock valued at $62,000 after purchasing an additional 1,297 shares in the last quarter. Finally, Brighton Jones LLC acquired a new stake in shares of Valley National Bancorp in the 2nd quarter valued at $95,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Valley National Bancorp Trading Up 2.8%

Shares of Valley National Bancorp stock opened at $10.77 on Friday. Valley National Bancorp has a 1 year low of $7.48 and a 1 year high of $11.35. The company’s fifty day simple moving average is $10.70 and its 200-day simple moving average is $9.86. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 12.24 and a beta of 1.17. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.40.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. Valley National Bancorp had a net margin of 14.86% and a return on equity of 6.67%. The firm had revenue of $511.08 million during the quarter, compared to the consensus estimate of $511.47 million. During the same period in the prior year, the firm earned $0.18 EPS. The business’s revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts expect that Valley National Bancorp will post 0.99 EPS 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. Investors of record on Monday, December 15th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.1%. The ex-dividend date is Monday, December 15th. Valley National Bancorp’s payout ratio is currently 50.00%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Cowen restated a “buy” rating on shares of Valley National Bancorp in a report on Monday, October 27th. TD Cowen raised their price objective on Valley National Bancorp from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Citigroup upgraded Valley National Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $10.00 to $13.50 in a report on Monday, September 15th. Janney Montgomery Scott upgraded Valley National Bancorp to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Truist Financial lifted their price target on shares of Valley National Bancorp from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $13.25.

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.