Allianz Asset Management GmbH Increases Holdings in Valley National Bancorp (VLY)

Allianz Asset Management GmbH lifted its position in Valley National Bancorp (NYSE:VLY) by 113.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,408 shares of the financial services provider’s stock after purchasing an additional 53,796 shares during the period. Allianz Asset Management GmbH’s holdings in Valley National Bancorp were worth $1,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Engineers Gate Manager LP boosted its position in shares of Valley National Bancorp by 11.5% during the third quarter. Engineers Gate Manager LP now owns 153,614 shares of the financial services provider’s stock worth $1,851,000 after acquiring an additional 15,855 shares during the last quarter. Stifel Financial Corp lifted its position in Valley National Bancorp by 44.9% during the third quarter. Stifel Financial Corp now owns 27,875 shares of the financial services provider’s stock valued at $337,000 after purchasing an additional 8,638 shares during the last quarter. KBC Group NV bought a new position in Valley National Bancorp during the third quarter valued at $850,000. Dimensional Fund Advisors LP lifted its position in Valley National Bancorp by 1.5% during the third quarter. Dimensional Fund Advisors LP now owns 13,160,052 shares of the financial services provider’s stock valued at $158,578,000 after purchasing an additional 196,944 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in Valley National Bancorp by 5.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,590,724 shares of the financial services provider’s stock valued at $19,169,000 after purchasing an additional 78,778 shares during the last quarter. 63.83% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on VLY shares. Piper Jaffray Companies upgraded shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $13.50 target price for the company in a report on Friday, January 5th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $13.00 price target on shares of Valley National Bancorp in a research note on Friday, September 29th. Zacks Investment Research raised shares of Valley National Bancorp from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Wednesday, September 27th. Finally, Royal Bank of Canada began coverage on shares of Valley National Bancorp in a research note on Thursday, December 21st. They issued an “outperform” rating and a $14.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $13.21.

Shares of Valley National Bancorp (NYSE VLY) opened at $12.03 on Friday. Valley National Bancorp has a 1-year low of $10.61 and a 1-year high of $12.82. The firm has a market cap of $3,180.00, a PE ratio of 17.69 and a beta of 0.89. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.98 and a quick ratio of 0.97.

Valley National Bancorp (NYSE:VLY) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Valley National Bancorp had a net margin of 19.91% and a return on equity of 8.27%. The firm had revenue of $193.00 million during the quarter, compared to the consensus estimate of $195.03 million. During the same quarter in the prior year, the business posted $0.16 earnings per share. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. sell-side analysts predict that Valley National Bancorp will post 0.68 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Friday, December 22nd were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Thursday, December 21st. Valley National Bancorp’s dividend payout ratio (DPR) is presently 64.71%.

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About Valley National Bancorp

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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