GSA Capital Partners LLP Sells 105,820 Shares of Valley National Bancorp (NASDAQ:VLY)

GSA Capital Partners LLP reduced its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 64.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 58,953 shares of the company’s stock after selling 105,820 shares during the period. GSA Capital Partners LLP’s holdings in Valley National Bancorp were worth $534,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its position in Valley National Bancorp by 74.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 248,318 shares of the company’s stock valued at $1,977,000 after purchasing an additional 106,290 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in Valley National Bancorp by 144.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 30,004 shares of the company’s stock valued at $239,000 after purchasing an additional 17,726 shares in the last quarter. Seven Eight Capital LP bought a new stake in Valley National Bancorp during the 1st quarter valued at $219,000. Bessemer Group Inc. raised its position in Valley National Bancorp by 27.3% during the 1st quarter. Bessemer Group Inc. now owns 16,766 shares of the company’s stock valued at $134,000 after purchasing an additional 3,593 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Valley National Bancorp during the 1st quarter valued at $43,000. 61.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on VLY shares. StockNews.com lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday. Barclays upgraded Valley National Bancorp from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $9.00 to $10.00 in a report on Thursday, October 31st. JPMorgan Chase & Co. upgraded Valley National Bancorp from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $10.50 to $11.00 in a report on Monday, November 11th. Wedbush reiterated a “neutral” rating and issued a $10.00 price target on shares of Valley National Bancorp in a report on Friday, October 25th. Finally, Morgan Stanley lifted their price target on Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.88.

Valley National Bancorp Stock Performance

NASDAQ VLY opened at $10.19 on Wednesday. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 16.44 and a beta of 1.07. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.22. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average of $9.28 and a 200 day moving average of $8.18.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly 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 during the quarter, compared to analyst estimates 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 period in the prior year, the business earned $0.26 earnings per share. Sell-side analysts anticipate that Valley National Bancorp will post 0.66 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, December 13th. This represents a $0.44 annualized dividend and a dividend yield of 4.32%. Valley National Bancorp’s dividend payout ratio is currently 70.97%.

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.