363,895 Shares in Valley National Bancorp $VLY Acquired by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC bought a new stake in Valley National Bancorp (NASDAQ:VLY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 363,895 shares of the company’s stock, valued at approximately $3,250,000. Segall Bryant & Hamill LLC owned approximately 0.06% of Valley National Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in VLY. Rhumbline Advisers grew its holdings in shares of Valley National Bancorp by 3.7% in the 2nd quarter. Rhumbline Advisers now owns 1,607,503 shares of the company’s stock valued at $14,355,000 after buying an additional 56,630 shares during the period. AXQ Capital LP acquired a new position in Valley National Bancorp in the second quarter valued at about $524,000. Franklin Resources Inc. grew its stake in Valley National Bancorp by 1,705.4% in the second quarter. Franklin Resources Inc. now owns 493,707 shares of the company’s stock valued at $4,409,000 after acquiring an additional 466,361 shares during the period. Legal & General Group Plc increased its holdings in shares of Valley National Bancorp by 3.8% in the second quarter. Legal & General Group Plc now owns 817,246 shares of the company’s stock worth $7,298,000 after acquiring an additional 29,877 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in shares of Valley National Bancorp during the second quarter worth about $785,000. 61.00% of the stock is owned by institutional investors.

Valley National Bancorp Price Performance

NASDAQ VLY opened at $11.12 on Tuesday. The firm’s 50 day moving average is $10.71 and its 200-day moving average is $9.89. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $6.20 billion, a PE ratio of 12.64 and a beta of 1.17. Valley National Bancorp has a 12-month low of $7.48 and a 12-month high of $11.35.

Valley National Bancorp (NASDAQ:VLY) last released its 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 business had revenue of $511.08 million during the quarter, compared to the consensus estimate of $511.47 million. During the same quarter last year, the firm earned $0.18 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities research analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.0%. The ex-dividend date is Monday, December 15th. Valley National Bancorp’s dividend payout ratio is presently 50.00%.

Analysts Set New Price Targets

Several brokerages recently issued reports on VLY. Morgan Stanley boosted their price objective on Valley National Bancorp from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Zacks Research raised shares of Valley National Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Valley National Bancorp in a research report on Wednesday, October 8th. Cowen restated a “buy” rating on shares of Valley National Bancorp in a report on Monday, October 27th. Finally, Barclays reaffirmed a “positive” rating on shares of Valley National Bancorp in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Valley National Bancorp presently has an average rating of “Buy” and a consensus price target of $13.25.

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.