69,120 Shares in Valley National Bancorp $VLY Bought by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC purchased a new position in Valley National Bancorp (NASDAQ:VLY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 69,120 shares of the company’s stock, valued at approximately $1,013,000.

A number of other institutional investors and hedge funds have also bought and sold shares of VLY. Los Angeles Capital Management LLC purchased a new position in shares of Valley National Bancorp in the fourth quarter valued at about $26,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Valley National Bancorp during the first quarter worth about $26,000. Assetmark Inc. raised its stake in Valley National Bancorp by 123.7% during the 1st quarter. Assetmark Inc. now owns 2,150 shares of the company’s stock valued at $26,000 after purchasing an additional 1,189 shares during the period. First Horizon Corp raised its stake in Valley National Bancorp by 52.5% during the 4th quarter. First Horizon Corp now owns 3,219 shares of the company’s stock valued at $38,000 after purchasing an additional 1,108 shares during the period. Finally, Geneos Wealth Management Inc. bought a new position in Valley National Bancorp in the 4th quarter worth approximately $39,000. 61.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on VLY. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Valley National Bancorp in a report on Monday, July 6th. TD Cowen restated a “buy” rating on shares of Valley National Bancorp in a research report on Wednesday, June 17th. Keefe, Bruyette & Woods raised their target price on shares of Valley National Bancorp from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Barclays lifted their price target on shares of Valley National Bancorp from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. Finally, Royal Bank Of Canada boosted their price target on shares of Valley National Bancorp from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Valley National Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $16.03.

Valley National Bancorp Price Performance

VLY stock opened at $14.65 on Tuesday. Valley National Bancorp has a 52 week low of $9.26 and a 52 week high of $15.20. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $14.44 and a two-hundred day simple moving average of $13.44. The firm has a market capitalization of $8.10 billion, a P/E ratio of 12.42 and a beta of 1.04.

Valley National Bancorp (NASDAQ:VLY) last posted its earnings results on Thursday, July 23rd. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). The business had revenue of $560.74 million during the quarter, compared to the consensus estimate of $557.16 million. Valley National Bancorp had a return on equity of 9.13% and a net margin of 19.49%.The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 earnings per share. Analysts anticipate that Valley National Bancorp will post 1.28 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a $0.11 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.44 annualized dividend and a yield of 3.0%. Valley National Bancorp’s dividend payout ratio (DPR) is currently 37.29%.

Insiders Place Their Bets

In other Valley National Bancorp news, CAO Mitchell L. Crandell sold 25,495 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $14.63, for a total transaction of $372,991.85. Following the sale, the chief accounting officer directly owned 76,116 shares of the company’s stock, valued at $1,113,577.08. The trade was a 25.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.06% of the stock is owned by insiders.

Valley National Bancorp 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.