72,624 Shares in Valley National Bancorp $VLY Bought by MQS Management LLC

MQS Management LLC bought a new position in shares of Valley National Bancorp (NASDAQ:VLY) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 72,624 shares of the company’s stock, valued at approximately $770,000.

Several other large investors also recently bought and sold shares of the company. Atlantic Union Bankshares Corp purchased a new position in shares of Valley National Bancorp in the second quarter valued at $39,000. Smartleaf Asset Management LLC grew its stake in Valley National Bancorp by 77.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 4,574 shares of the company’s stock valued at $48,000 after acquiring an additional 1,996 shares during the last quarter. Hantz Financial Services Inc. grew its stake in Valley National Bancorp by 11,831.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 5,369 shares of the company’s stock valued at $48,000 after acquiring an additional 5,324 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Valley National Bancorp by 244.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,884 shares of the company’s stock valued at $53,000 after acquiring an additional 4,177 shares in the last quarter. Finally, Blue Trust Inc. raised its position in Valley National Bancorp by 199.4% during the third quarter. Blue Trust Inc. now owns 9,632 shares of the company’s stock worth $102,000 after acquiring an additional 6,415 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VLY. Hovde Group upped their price target on shares of Valley National Bancorp from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Barclays lifted their price objective on Valley National Bancorp from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Weiss Ratings upgraded Valley National Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. National Bankshares set a $16.00 price target on Valley National Bancorp in a research report on Friday, January 30th. Finally, Janney Montgomery Scott raised Valley National Bancorp to a “strong-buy” rating in a report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.20.

Valley National Bancorp Stock Down 0.6%

Shares of NASDAQ VLY opened at $13.62 on Wednesday. The firm has a market cap of $7.60 billion, a P/E ratio of 13.49 and a beta of 1.10. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.97 and a current ratio of 0.97. Valley National Bancorp has a 1 year low of $7.48 and a 1 year high of $13.79. The firm’s 50 day moving average price is $12.13 and its 200 day moving average price is $11.06.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. Valley National Bancorp had a return on equity of 7.92% and a net margin of 17.11%.The company had revenue of $541.25 million during the quarter, compared to the consensus estimate of $524.31 million. During the same period in the previous year, the firm posted $0.13 EPS. Valley National Bancorp’s revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current year.

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.