Valley National Bancorp (NASDAQ:VLY) Shares Bought by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC increased its holdings in Valley National Bancorp (NASDAQ:VLY) by 416.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,201 shares of the company’s stock after buying an additional 5,001 shares during the period. Hexagon Capital Partners LLC’s holdings in Valley National Bancorp were worth $56,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Retirement Systems of Alabama increased 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 buying an additional 1,435 shares during the period. Diversified Trust Co increased its holdings 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. GAMMA Investing LLC increased its holdings in shares of Valley National Bancorp by 46.4% during the 3rd quarter. GAMMA Investing LLC now owns 6,791 shares of the company’s stock valued at $62,000 after purchasing an additional 2,151 shares in the last quarter. Ignite Planners LLC increased its holdings in shares of Valley National Bancorp by 3.4% during the 3rd quarter. Ignite Planners LLC now owns 65,107 shares of the company’s stock valued at $590,000 after purchasing an additional 2,170 shares in the last quarter. Finally, State of Michigan Retirement System increased its holdings 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. Institutional investors and hedge funds own 61.00% of the company’s stock.

Valley National Bancorp Trading Up 4.4 %

Shares of VLY opened at $9.25 on Friday. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.22. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average is $8.52 and its two-hundred day moving average is $7.78. The stock has a market cap of $4.71 billion, a PE ratio of 13.03 and a beta of 1.08.

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

Valley National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date was Friday, September 13th. Valley National Bancorp’s payout ratio is 61.97%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Valley National Bancorp from $8.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Morgan Stanley lifted their price target on shares of Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Wedbush lifted their price target on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. StockNews.com cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. 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 note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.88.

About Valley National Bancorp

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.