Hudson Capital Management LLC Acquires Shares of 30,093 Valley National Bancorp (VLY)

Hudson Capital Management LLC acquired a new position in Valley National Bancorp (NYSE:VLY) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 30,093 shares of the financial services provider’s stock, valued at approximately $338,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Valley National Bancorp by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 21,880,605 shares of the financial services provider’s stock worth $258,410,000 after buying an additional 448,524 shares during the last quarter. Chicago Equity Partners LLC boosted its position in shares of Valley National Bancorp by 22.0% during the third quarter. Chicago Equity Partners LLC now owns 637,215 shares of the financial services provider’s stock valued at $7,678,000 after purchasing an additional 114,780 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Valley National Bancorp by 61.8% during the third quarter. Nordea Investment Management AB now owns 594,300 shares of the financial services provider’s stock valued at $7,161,000 after purchasing an additional 227,100 shares in the last quarter. First Republic Investment Management Inc. boosted its position in shares of Valley National Bancorp by 87.3% during the third quarter. First Republic Investment Management Inc. now owns 28,213 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 13,149 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Valley National Bancorp by 185.6% during the third quarter. Principal Financial Group Inc. now owns 3,230,525 shares of the financial services provider’s stock valued at $38,928,000 after purchasing an additional 2,099,452 shares in the last quarter. Hedge funds and other institutional investors own 63.79% of the company’s stock.

Several equities research analysts recently weighed in on VLY shares. Zacks Investment Research upgraded Valley National Bancorp from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Saturday, January 13th. Keefe, Bruyette & Woods restated a “buy” rating and set a $15.00 price target on shares of Valley National Bancorp in a research report on Friday, December 22nd. Royal Bank of Canada started coverage on Valley National Bancorp in a research report on Thursday, December 21st. They set an “outperform” rating and a $14.00 price target on the stock. Finally, Piper Jaffray Companies upgraded Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $13.50 price target on the stock in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $13.21.

Valley National Bancorp (VLY) opened at $12.26 on Wednesday. The stock has a market capitalization of $3,240.00, a price-to-earnings ratio of 18.03 and a beta of 0.89. Valley National Bancorp has a one year low of $10.61 and a one year high of $12.82. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.97 and a current ratio of 0.98.

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

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Friday, December 22nd were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Thursday, December 21st. Valley National Bancorp’s payout ratio is 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.

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

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