Aigen Investment Management LP Acquires 12,968 Shares of Valley National Bancorp (NASDAQ:VLY)

Aigen Investment Management LP lifted its stake in Valley National Bancorp (NASDAQ:VLY) by 41.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,972 shares of the company’s stock after purchasing an additional 12,968 shares during the period. Aigen Investment Management LP’s holdings in Valley National Bancorp were worth $398,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in VLY. Harbor Capital Advisors Inc. bought a new stake in Valley National Bancorp in the third quarter valued at approximately $25,000. Innealta Capital LLC bought a new stake in shares of Valley National Bancorp in the 2nd quarter valued at $38,000. EntryPoint Capital LLC acquired a new stake in Valley National Bancorp during the 1st quarter worth $43,000. Blue Trust Inc. lifted its holdings in Valley National Bancorp by 48.2% during the third quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock worth $44,000 after acquiring an additional 1,564 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its stake in Valley National Bancorp by 416.8% in the third quarter. Hexagon Capital Partners LLC now owns 6,201 shares of the company’s stock valued at $56,000 after acquiring an additional 5,001 shares during the period. 61.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on VLY shares. StockNews.com raised Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday. Barclays upgraded shares of Valley National Bancorp from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $9.00 to $10.00 in a report on Thursday, October 31st. Royal Bank of Canada upped their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods raised their price objective on shares of Valley National Bancorp from $8.00 to $8.50 and gave the stock a “market perform” rating in a report on Friday, July 26th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $10.00 price objective on shares of Valley National Bancorp in a research report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $9.88.

Valley National Bancorp Stock Down 0.4 %

Shares of VLY stock opened at $10.14 on Friday. The firm’s fifty day moving average price is $9.12 and its two-hundred day moving average price is $8.10. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.22. The firm has a market capitalization of $5.16 billion, a P/E ratio of 16.35 and a beta of 1.07.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $921.22 million for the quarter, compared to the consensus estimate of $467.87 million. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. During the same quarter in the previous year, the business earned $0.26 earnings per share. On average, equities analysts predict that Valley National Bancorp will post 0.66 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend was Friday, September 13th. Valley National Bancorp’s payout ratio is presently 70.97%.

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.