122,811 Shares in Valley National Bancorp $VLY Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new stake in shares of Valley National Bancorp (NASDAQ:VLY) during the 2nd quarter, Holdings Channel reports. The fund acquired 122,811 shares of the company’s stock, valued at approximately $1,799,000.

A number of other large investors also recently modified their holdings of VLY. Cedar Mountain Advisors LLC purchased a new position in Valley National Bancorp in the 1st quarter worth approximately $26,000. Assetmark Inc. grew its holdings 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 buying an additional 1,189 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Valley National Bancorp during the 4th quarter valued at approximately $26,000. Compass Financial Management LLC bought a new stake in shares of Valley National Bancorp during the second quarter valued at approximately $28,000. Finally, Root Financial Partners LLC raised its position in shares of Valley National Bancorp by 127.3% during the first quarter. Root Financial Partners LLC now owns 3,976 shares of the company’s stock valued at $49,000 after buying an additional 2,227 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Insider Buying and Selling at Valley National Bancorp

In related news, CAO Mitchell L. Crandell sold 25,495 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $14.63, for a total value of $372,991.85. Following the completion of the transaction, the chief accounting officer owned 76,116 shares of the company’s stock, valued at approximately $1,113,577.08. This trade represents a 25.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.06% of the stock is currently owned by company insiders.

Valley National Bancorp Stock Down 0.1%

NASDAQ VLY opened at $14.02 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $7.75 billion, a P/E ratio of 11.88 and a beta of 1.03. Valley National Bancorp has a one year low of $9.64 and a one year high of $15.20. The stock has a 50 day moving average price of $14.48 and a 200-day moving average price of $13.62.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate 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 company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 EPS. As a group, equities analysts predict that Valley National Bancorp will post 1.27 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 15th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 37.29%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VLY. Keefe, Bruyette & Woods upped their target price on shares of Valley National Bancorp from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Piper Sandler lifted their price target on shares of Valley National Bancorp from $16.00 to $16.50 and gave the company an “overweight” rating in a report on Friday, June 26th. TD Cowen reiterated a “buy” rating on shares of Valley National Bancorp in a research note on Wednesday, June 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Valley National Bancorp in a research note on Monday, July 6th. Finally, Cantor Fitzgerald increased their price objective on shares of Valley National Bancorp from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.10.

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.