Fourthstone LLC Invests $1.12 Million in Valley National Bancorp (NASDAQ:VLY)

Fourthstone LLC bought a new stake in Valley National Bancorp (NASDAQ:VLY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 124,099 shares of the company’s stock, valued at approximately $1,124,000.

Other large investors have also recently made changes to their positions in the company. PEAK6 Investments LLC purchased a new stake in Valley National Bancorp in the 3rd quarter valued at $543,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Valley National Bancorp by 14.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 103,074 shares of the company’s stock valued at $934,000 after buying an additional 12,669 shares during the last quarter. Townsquare Capital LLC boosted its stake in shares of Valley National Bancorp by 11.8% during the third quarter. Townsquare Capital LLC now owns 14,365 shares of the company’s stock worth $130,000 after buying an additional 1,521 shares during the period. FMR LLC grew its holdings in shares of Valley National Bancorp by 105.8% during the third quarter. FMR LLC now owns 32,146 shares of the company’s stock worth $291,000 after buying an additional 16,529 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new position in Valley National Bancorp in the 3rd quarter valued at about $397,000. 61.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Royal Bank of Canada increased their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $10.50 to $11.00 in a report on Monday, November 11th. Piper Sandler lifted their price objective on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Wedbush restated a “neutral” rating and set a $10.00 price objective on shares of Valley National Bancorp in a research report on Friday, October 25th. Finally, Barclays upgraded shares of Valley National Bancorp from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $9.00 to $10.00 in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Valley National Bancorp has a consensus rating of “Hold” and an average price target of $9.88.

Valley National Bancorp Price Performance

Shares of NASDAQ VLY traded down $0.01 during trading on Thursday, hitting $10.68. 4,756,840 shares of the company were exchanged, compared to its average volume of 6,181,193. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.97. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.22. The company has a market cap of $5.44 billion, a price-to-earnings ratio of 17.23 and a beta of 1.07. The firm’s fifty day moving average price is $9.51 and its 200 day moving average price is $8.30.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. The firm had revenue of $921.22 million during the quarter, compared to analysts’ expectations of $467.87 million. During the same quarter last year, the business earned $0.26 earnings per share. On average, sell-side analysts expect that Valley National Bancorp will post 0.66 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Friday, December 13th. Valley National Bancorp’s dividend payout ratio is currently 70.97%.

Valley National Bancorp 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.