Dimensional Fund Advisors LP raised its position in Valley National Bancorp (NYSE:VLY) by 22.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,348,750 shares of the financial services provider’s stock after buying an additional 1,721,128 shares during the period. Dimensional Fund Advisors LP owned approximately 3.68% of Valley National Bancorp worth $85,259,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of VLY. Norges Bank acquired a new position in shares of Valley National Bancorp during the fourth quarter worth about $18,296,000. State Street Corp raised its position in shares of Valley National Bancorp by 11.0% in the first quarter. State Street Corp now owns 12,824,566 shares of the financial services provider’s stock worth $122,346,000 after buying an additional 1,266,986 shares during the period. Renaissance Technologies LLC raised its position in shares of Valley National Bancorp by 33.9% in the first quarter. Renaissance Technologies LLC now owns 3,144,800 shares of the financial services provider’s stock worth $30,001,000 after buying an additional 796,100 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Valley National Bancorp by 34.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,632,480 shares of the financial services provider’s stock worth $25,113,000 after buying an additional 677,816 shares during the period. Finally, Emerald Acquisition Ltd. acquired a new position in shares of Valley National Bancorp during the second quarter worth about $2,427,000. 54.11% of the stock is owned by institutional investors and hedge funds.
Valley National Bancorp (NYSE:VLY) opened at 9.61 on Friday. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 22.04 and a beta of 0.93. The firm’s 50-day moving average price is $9.44 and its 200-day moving average price is $9.35. Valley National Bancorp has a 52 week low of $8.31 and a 52 week high of $11.24.
Valley National Bancorp (NYSE:VLY) last announced its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $175.72 million for the quarter, compared to the consensus estimate of $176.54 million. Valley National Bancorp had a return on equity of 7.26% and a net margin of 14.03%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.14 EPS. On average, equities analysts expect that Valley National Bancorp will post $0.62 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Tuesday, September 13th. Valley National Bancorp’s dividend payout ratio is 97.78%.
A number of equities analysts recently issued reports on VLY shares. Zacks Investment Research raised Valley National Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, September 1st. Piper Jaffray Cos. lowered Valley National Bancorp from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $10.00 to $9.50 in a report on Monday, August 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $10.00.
Valley National Bancorp Company Profile
Valley National Bancorp is the bank holding company for Valley National Bank (the Bank). The Bank provides a range of commercial, retail, insurance and wealth management financial services products. The Company’s segments include Consumer Lending; Commercial Lending; Investment Management, and Corporate and Other Adjustments.
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