Cambridge Investment Research Advisors Inc. Sells 2,337 Shares of Valley National Bancorp (NASDAQ:VLY)

Cambridge Investment Research Advisors Inc. lessened its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 9.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,138 shares of the company’s stock after selling 2,337 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Valley National Bancorp were worth $308,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brandywine Global Investment Management LLC boosted its position in Valley National Bancorp by 7.3% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 766,973 shares of the company’s stock valued at $10,300,000 after acquiring an additional 52,171 shares in the last quarter. Northern Trust Corp boosted its position in Valley National Bancorp by 0.8% during the 2nd quarter. Northern Trust Corp now owns 6,705,029 shares of the company’s stock valued at $90,048,000 after acquiring an additional 52,933 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Valley National Bancorp by 56.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,039,365 shares of the company’s stock valued at $27,389,000 after acquiring an additional 734,439 shares in the last quarter. Advisory Services Network LLC bought a new stake in Valley National Bancorp during the 2nd quarter valued at $71,000. Finally, Citigroup Inc. boosted its position in Valley National Bancorp by 13.6% during the 2nd quarter. Citigroup Inc. now owns 326,449 shares of the company’s stock valued at $4,384,000 after acquiring an additional 39,179 shares in the last quarter. 63.19% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently commented on the company. Zacks Investment Research upgraded Valley National Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Saturday, January 8th. Stephens increased their price objective on Valley National Bancorp from $15.00 to $15.50 and gave the company an “overweight” rating in a report on Monday, October 4th. Hovde Group upgraded Valley National Bancorp from a “market perform” rating to an “outperform” rating in a report on Friday, September 17th. Finally, Citigroup upgraded Valley National Bancorp from a “sell” rating to a “neutral” rating and increased their price objective for the company from $12.00 to $14.00 in a report on Friday, September 24th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $15.19.

Shares of VLY stock opened at $15.02 on Friday. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of 13.53 and a beta of 1.18. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.98. The business has a fifty day moving average of $14.10 and a 200 day moving average of $13.48. Valley National Bancorp has a 1 year low of $10.02 and a 1 year high of $15.04.

Valley National Bancorp (NASDAQ:VLY) last issued its earnings results on Wednesday, October 27th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.30. The company had revenue of $343.46 million during the quarter, compared to analyst estimates of $339.41 million. Valley National Bancorp had a return on equity of 10.63% and a net margin of 31.10%. During the same quarter last year, the business posted $0.25 EPS. As a group, equities research analysts expect that Valley National Bancorp will post 1.18 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 3rd. Shareholders of record on Wednesday, December 15th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, December 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.93%. Valley National Bancorp’s payout ratio is currently 39.64%.

Valley National Bancorp Company Profile

Valley National Bancorp is a bank holding company, which engages in the provision of retail and commercial banking services. It operates through the following segments: Consumer Lending; Commercial Lending; Investment Management; and Corporate and Other Adjustments. The Consumer Lending segment consists of residential mortgage loans, automobile loans and home equity loans, as well as wealth management and insurance services.

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Institutional Ownership by Quarter for Valley National Bancorp (NASDAQ:VLY)

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