Keynote Financial Services LLC Has $149,000 Stock Position in Valley National Bancorp (NASDAQ:VLY)

Keynote Financial Services LLC reduced its position in shares of Valley National Bancorp (NASDAQ:VLY) by 11.9% during the third quarter, Holdings Channel reports. The institutional investor owned 16,433 shares of the company’s stock after selling 2,215 shares during the period. Keynote Financial Services LLC’s holdings in Valley National Bancorp were worth $149,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its stake in shares of Valley National Bancorp by 378.4% in the first quarter. BNP Paribas Financial Markets now owns 612,314 shares of the company’s stock worth $4,874,000 after purchasing an additional 484,332 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in shares of Valley National Bancorp in the first quarter valued at approximately $160,000. Texas Permanent School Fund Corp grew its holdings in shares of Valley National Bancorp by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 373,248 shares of the company’s stock valued at $2,971,000 after acquiring an additional 4,853 shares in the last quarter. Quantbot Technologies LP bought a new position in Valley National Bancorp during the first quarter valued at $2,630,000. Finally, SG Americas Securities LLC bought a new position in Valley National Bancorp during the first quarter valued at $1,021,000. 61.00% of the stock is owned by institutional investors and hedge funds.

Valley National Bancorp Stock Down 4.5 %

VLY opened at $10.05 on Friday. The company has a market cap of $5.12 billion, a P/E ratio of 16.21 and a beta of 1.07. The business’s 50-day moving average price is $8.96 and its 200-day moving average price is $8.02. 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 12 month low of $6.47 and a 12 month high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. The firm 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 expect that Valley National Bancorp will post 0.66 EPS for the current year.

Valley National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.44 annualized dividend and a dividend yield of 4.38%. Valley National Bancorp’s payout ratio is presently 70.97%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on VLY. Keefe, Bruyette & Woods increased their price objective on Valley National Bancorp from $8.00 to $8.50 and gave the company a “market perform” rating in a report on Friday, July 26th. StockNews.com downgraded Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Wedbush reiterated a “neutral” rating and issued a $10.00 price objective on shares of Valley National Bancorp in a research report on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley raised their price target on Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Valley National Bancorp presently has an average rating of “Hold” and an average price target of $9.75.

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.