Aigen Investment Management LP Has $398,000 Holdings in Valley National Bancorp (NASDAQ:VLY)

Aigen Investment Management LP lifted its position in Valley National Bancorp (NASDAQ:VLY) by 41.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,972 shares of the company’s stock after purchasing an additional 12,968 shares during the quarter. Aigen Investment Management LP’s holdings in Valley National Bancorp were worth $398,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Valley National Bancorp during the first quarter worth about $1,021,000. Inspire Investing LLC lifted its position in shares of Valley National Bancorp by 27.0% during the 1st quarter. Inspire Investing LLC now owns 44,803 shares of the company’s stock worth $357,000 after buying an additional 9,532 shares during the period. ProShare Advisors LLC boosted its stake in Valley National Bancorp by 4.8% in the 1st quarter. ProShare Advisors LLC now owns 98,432 shares of the company’s stock valued at $784,000 after buying an additional 4,482 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Valley National Bancorp by 74.8% in 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 buying an additional 106,290 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its position in Valley National Bancorp by 37.4% in the first quarter. First Eagle Investment Management LLC now owns 547,300 shares of the company’s stock valued at $4,357,000 after acquiring an additional 149,000 shares during the period. 61.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

VLY has been the subject of a number of analyst reports. Barclays raised Valley National Bancorp from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $9.00 to $10.00 in a report on Thursday, October 31st. StockNews.com raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday. Royal Bank of Canada upped their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods lifted their target price 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. Finally, Piper Sandler boosted their target price on Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Valley National Bancorp has an average rating of “Hold” and an average target price of $9.88.

Valley National Bancorp Stock Performance

Shares of Valley National Bancorp stock opened at $10.14 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.97. The firm has a 50 day simple moving average of $9.12 and a 200 day simple moving average of $8.10. Valley National Bancorp has a fifty-two week low of $6.47 and a fifty-two week high of $11.22. The firm has a market cap of $5.16 billion, a P/E ratio of 16.35 and a beta of 1.07.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, October 24th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. The company had revenue of $921.22 million during the quarter, compared to analysts’ expectations of $467.87 million. During the same period last year, the firm earned $0.26 EPS. Sell-side analysts predict that Valley National Bancorp will post 0.66 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, September 13th. This represents a $0.44 annualized dividend and a yield of 4.34%. Valley National Bancorp’s dividend payout ratio is currently 70.97%.

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.