Stifel Financial Corp Boosts Position in Valley National Bancorp (VLY)

Stifel Financial Corp increased its position in shares of Valley National Bancorp (NYSE:VLY) by 44.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,875 shares of the financial services provider’s stock after buying an additional 8,638 shares during the quarter. Stifel Financial Corp’s holdings in Valley National Bancorp were worth $337,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Valley National Bancorp by 9.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,128 shares of the financial services provider’s stock worth $108,000 after buying an additional 817 shares during the period. Advisor Group Inc. raised its stake in Valley National Bancorp by 26.2% during the 2nd quarter. Advisor Group Inc. now owns 9,795 shares of the financial services provider’s stock worth $115,000 after buying an additional 2,031 shares during the period. Ffcm LLC raised its stake in Valley National Bancorp by 222.4% during the 2nd quarter. Ffcm LLC now owns 10,262 shares of the financial services provider’s stock worth $124,000 after buying an additional 7,079 shares during the period. CIBC Asset Management Inc acquired a new position in Valley National Bancorp during the 3rd quarter worth approximately $126,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Valley National Bancorp during the 3rd quarter worth approximately $272,000. 63.83% of the stock is currently owned by institutional investors and hedge funds.

VLY has been the topic of a number of research reports. Royal Bank of Canada started coverage on Valley National Bancorp in a research note on Thursday, December 21st. They set an “outperform” rating and a $14.00 price target on the stock. Zacks Investment Research downgraded Valley National Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $15.00 price objective on shares of Valley National Bancorp in a research note on Friday, December 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $13.14.

Shares of Valley National Bancorp (VLY) opened at $11.22 on Tuesday. The company has a market capitalization of $3,000.00, a P/E ratio of 16.50 and a beta of 0.89. Valley National Bancorp has a 52 week low of $10.61 and a 52 week high of $12.82. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.97.

Valley National Bancorp (NYSE:VLY) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $193.00 million during the quarter, compared to analysts’ expectations of $195.03 million. Valley National Bancorp had a return on equity of 8.27% and a net margin of 19.91%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $0.16 earnings per share. equities research analysts predict that Valley National Bancorp will post 0.68 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Friday, December 22nd will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Thursday, December 21st. Valley National Bancorp’s dividend payout ratio (DPR) is presently 64.71%.

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Valley National Bancorp Profile

Valley National Bancorp is the bank holding company for Valley National Bank (the Bank). The Bank provides a range of commercial, retail, insurance and wealth management financial services products. The Company’s segments include Consumer Lending, Commercial Lending, Investment Management, and Corporate and Other Adjustments.

Institutional Ownership by Quarter for Valley National Bancorp (NYSE:VLY)

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