60,084 Shares in Valley National Bancorp $VLY Purchased by Gallagher Fiduciary Advisors LLC

Gallagher Fiduciary Advisors LLC acquired a new position in shares of Valley National Bancorp (NASDAQ:VLY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 60,084 shares of the company’s stock, valued at approximately $880,000.

Other large investors also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC acquired a new stake in shares of Valley National Bancorp during the 1st quarter worth approximately $26,000. Assetmark Inc. lifted its holdings in Valley National Bancorp by 123.7% in the first quarter. Assetmark Inc. now owns 2,150 shares of the company’s stock valued at $26,000 after buying an additional 1,189 shares during the period. Los Angeles Capital Management LLC acquired a new position in Valley National Bancorp in the fourth quarter valued at approximately $26,000. Compass Financial Management LLC bought a new position in Valley National Bancorp in the second quarter valued at approximately $28,000. Finally, Geneos Wealth Management Inc. bought a new position in Valley National Bancorp in the fourth quarter valued at approximately $39,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Valley National Bancorp Stock Performance

Shares of NASDAQ VLY opened at $14.10 on Wednesday. The company’s fifty day moving average is $14.57 and its 200-day moving average is $13.61. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of 11.95 and a beta of 1.04. Valley National Bancorp has a twelve month low of $9.64 and a twelve month 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.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). The firm had revenue of $560.74 million during the quarter, compared to the consensus estimate of $557.16 million. Valley National Bancorp had a net margin of 19.49% and a return on equity of 9.13%. Valley National Bancorp’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 EPS. Equities research analysts predict that Valley National Bancorp will post 1.28 EPS for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 15th. Valley National Bancorp’s payout ratio is presently 37.29%.

Analyst Upgrades and Downgrades

Several brokerages have commented on VLY. Morgan Stanley reiterated a “positive” rating on shares of Valley National Bancorp in a research report on Monday, June 29th. Cantor Fitzgerald lifted their price objective on Valley National Bancorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Hovde Group upped their price objective on Valley National Bancorp from $16.00 to $16.50 and gave the company an “outperform” rating in a report on Tuesday, May 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Valley National Bancorp in a report on Monday, July 6th. Finally, Keefe, Bruyette & Woods increased their target price on Valley National Bancorp from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.03.

Insider Activity

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 $1,113,577.08. This represents a 25.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.06% of the stock is owned by company insiders.

Valley National Bancorp Company 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.