Quantbot Technologies LP Purchases 304,962 Shares of Valley National Bancorp (NASDAQ:VLY)

Quantbot Technologies LP boosted its position in Valley National Bancorp (NASDAQ:VLY) by 92.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 635,384 shares of the company’s stock after acquiring an additional 304,962 shares during the period. Quantbot Technologies LP owned 0.12% of Valley National Bancorp worth $4,435,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Retirement Systems of Alabama grew its holdings in Valley National Bancorp by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 535,546 shares of the company’s stock worth $4,263,000 after acquiring an additional 1,435 shares during the last quarter. Diversified Trust Co boosted its stake in shares of Valley National Bancorp by 11.1% during the 2nd quarter. Diversified Trust Co now owns 14,317 shares of the company’s stock valued at $100,000 after purchasing an additional 1,435 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of Valley National Bancorp by 2.4% during the 1st quarter. State of Michigan Retirement System now owns 104,781 shares of the company’s stock valued at $834,000 after purchasing an additional 2,500 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Valley National Bancorp by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 121,095 shares of the company’s stock valued at $845,000 after purchasing an additional 2,500 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Valley National Bancorp by 22.6% during the 2nd quarter. CIBC Asset Management Inc now owns 13,708 shares of the company’s stock valued at $96,000 after purchasing an additional 2,529 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Stock Up 2.3 %

Shares of Valley National Bancorp stock opened at $8.72 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $4.44 billion, a PE ratio of 10.26 and a beta of 1.08. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.22. The company has a 50-day simple moving average of $8.11 and a two-hundred day simple moving average of $7.64.

Valley National Bancorp (NASDAQ:VLY) last issued its earnings results on Thursday, July 25th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.07). The firm had revenue of $884.68 million during the quarter, compared to analysts’ expectations of $458.67 million. Valley National Bancorp had a return on equity of 6.53% and a net margin of 10.79%. During the same period last year, the firm posted $0.28 earnings per share. On average, analysts anticipate that Valley National Bancorp will post 0.7 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.11 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.44 annualized dividend and a yield of 5.05%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 51.76%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on VLY. Wedbush reaffirmed a “neutral” rating and set a $8.00 target price on shares of Valley National Bancorp in a research note on Wednesday, May 22nd. Barclays cut their target price on shares of Valley National Bancorp from $8.00 to $7.00 and set an “underweight” rating on the stock in a research note on Monday, June 24th. StockNews.com lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. lowered their price target on shares of Valley National Bancorp from $8.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Valley National Bancorp from $8.00 to $8.50 and gave the company a “market perform” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Valley National Bancorp currently has a consensus rating of “Hold” and an average price target of $8.31.

Valley National Bancorp Company 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.