Thrivent Financial for Lutherans Has $3.02 Million Stock Holdings in Valley National Bancorp (NASDAQ:VLY)

Thrivent Financial for Lutherans trimmed its holdings in Valley National Bancorp (NASDAQ:VLY) by 60.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 333,644 shares of the company’s stock after selling 509,732 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Valley National Bancorp were worth $3,023,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Diversified Trust Co lifted its holdings in Valley National Bancorp by 11.1% in the second quarter. Diversified Trust Co now owns 14,317 shares of the company’s stock valued at $100,000 after buying an additional 1,435 shares during the period. Blue Trust Inc. raised its position in shares of Valley National Bancorp by 48.2% during the 3rd quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock valued at $44,000 after acquiring an additional 1,564 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Valley National Bancorp by 46.4% in the 3rd quarter. GAMMA Investing LLC now owns 6,791 shares of the company’s stock valued at $62,000 after purchasing an additional 2,151 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in shares of Valley National Bancorp by 7.6% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 30,419 shares of the company’s stock worth $276,000 after purchasing an additional 2,154 shares during the last quarter. Finally, Ignite Planners LLC grew its stake in shares of Valley National Bancorp by 3.4% during the third quarter. Ignite Planners LLC now owns 65,107 shares of the company’s stock worth $590,000 after purchasing an additional 2,170 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com cut Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Morgan Stanley increased their target price on shares of Valley National Bancorp from $9.50 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Royal Bank of Canada boosted their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Piper Sandler upped their price objective on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, Wedbush reiterated a “neutral” rating and set a $10.00 target price on shares of Valley National Bancorp in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Valley National Bancorp currently has a consensus rating of “Hold” and an average price target of $9.88.

Valley National Bancorp Trading Down 0.8 %

Shares of NASDAQ VLY opened at $10.69 on Wednesday. The firm has a 50 day moving average price of $9.48 and a two-hundred day moving average price of $8.28. The stock has a market cap of $5.45 billion, a P/E ratio of 17.24 and a beta of 1.07. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.22. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.97 and a current ratio of 0.99.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $921.22 million for the quarter, compared to analyst estimates of $467.87 million. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. During the same quarter in the previous year, the business earned $0.26 earnings per share. As a group, equities analysts forecast that Valley National Bancorp will post 0.66 EPS for the current year.

Valley National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.44 dividend on an annualized basis and a yield of 4.12%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 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.