Universal Beteiligungs und Servicegesellschaft mbH Acquires 3,439 Shares of Valley National Bancorp (NASDAQ:VLY)

Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Valley National Bancorp (NASDAQ:VLY) by 1.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 365,196 shares of the company’s stock after purchasing an additional 3,439 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.07% of Valley National Bancorp worth $3,247,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in Valley National Bancorp by 206.6% in the first quarter. Farther Finance Advisors LLC now owns 4,298 shares of the company’s stock worth $38,000 after acquiring an additional 2,896 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Valley National Bancorp in the 4th quarter valued at approximately $39,000. Brown Lisle Cummings Inc. purchased a new position in shares of Valley National Bancorp in the 1st quarter worth approximately $39,000. Optiver Holding B.V. increased its position in shares of Valley National Bancorp by 80.9% during the 4th quarter. Optiver Holding B.V. now owns 5,079 shares of the company’s stock valued at $46,000 after purchasing an additional 2,271 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in Valley National Bancorp by 219.6% during the 1st quarter. UMB Bank n.a. now owns 5,571 shares of the company’s stock valued at $50,000 after buying an additional 3,828 shares during the period. 61.00% of the stock is owned by hedge funds and other institutional investors.

Valley National Bancorp Stock Up 1.0%

Shares of NASDAQ VLY opened at $9.52 on Tuesday. Valley National Bancorp has a 52-week low of $7.18 and a 52-week high of $11.10. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of 12.21 and a beta of 1.06. The stock has a 50 day moving average price of $9.08 and a 200 day moving average price of $9.12. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 0.97.

Valley National Bancorp (NASDAQ:VLY) last issued its earnings results on Thursday, July 24th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. Valley National Bancorp had a return on equity of 5.89% and a net margin of 12.87%. The business had revenue of $495.01 million during the quarter, compared to analysts’ expectations of $495.79 million. During the same period in the prior year, the business earned $0.13 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Sell-side analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.62%. The ex-dividend date is Monday, September 15th. Valley National Bancorp’s payout ratio is 56.41%.

Analysts Set New Price Targets

Several research firms have commented on VLY. Jefferies Financial Group started coverage on shares of Valley National Bancorp in a research note on Wednesday, May 21st. They set a “hold” rating and a $10.00 price objective for the company. Barclays restated an “underweight” rating on shares of Valley National Bancorp in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a report on Saturday. Truist Financial raised shares of Valley National Bancorp from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Friday. Finally, Royal Bank Of Canada upped their target price on Valley National Bancorp from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.95.

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.