Segall Bryant & Hamill LLC Invests $12.85 Million in Valley National Bancorp (VLY)

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Segall Bryant & Hamill LLC acquired a new stake in shares of Valley National Bancorp (NYSE:VLY) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,057,030 shares of the financial services provider’s stock, valued at approximately $12,853,000. Segall Bryant & Hamill LLC owned about 0.32% of Valley National Bancorp at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Mcrae Capital Management Inc. increased its position in shares of Valley National Bancorp by 29.6% during the 2nd quarter. Mcrae Capital Management Inc. now owns 19,281 shares of the financial services provider’s stock valued at $234,000 after purchasing an additional 4,400 shares during the last quarter. Condor Capital Management increased its position in shares of Valley National Bancorp by 14.5% during the 2nd quarter. Condor Capital Management now owns 36,105 shares of the financial services provider’s stock valued at $439,000 after purchasing an additional 4,572 shares during the last quarter. Arizona State Retirement System increased its position in shares of Valley National Bancorp by 2.8% during the 2nd quarter. Arizona State Retirement System now owns 183,990 shares of the financial services provider’s stock valued at $2,237,000 after purchasing an additional 4,926 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Valley National Bancorp by 0.9% during the 1st quarter. California Public Employees Retirement System now owns 661,091 shares of the financial services provider’s stock valued at $8,237,000 after purchasing an additional 6,155 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Valley National Bancorp by 46.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,573 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 6,527 shares during the last quarter. Hedge funds and other institutional investors own 54.52% of the company’s stock.

VLY opened at $11.95 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.96 and a current ratio of 0.96. Valley National Bancorp has a 1 year low of $10.61 and a 1 year high of $13.38. The company has a market cap of $3.87 billion, a P/E ratio of 17.32 and a beta of 0.86.

Valley National Bancorp (NYSE:VLY) last posted its quarterly earnings results on Thursday, July 26th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. Valley National Bancorp had a return on equity of 8.56% and a net margin of 16.35%. The business had revenue of $248.82 million for the quarter, compared to analyst estimates of $245.72 million. During the same period last year, the company earned $0.18 EPS. research analysts forecast that Valley National Bancorp will post 0.86 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 2nd. Investors of record on Friday, September 14th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.44 annualized dividend and a yield of 3.68%. Valley National Bancorp’s payout ratio is 63.77%.

In related news, Director Gerald H. Lipkin sold 260,065 shares of the firm’s stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $12.81, for a total transaction of $3,331,432.65. Following the transaction, the director now directly owns 889 shares in the company, valued at approximately $11,388.09. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ronald H. Janis purchased 10,000 shares of Valley National Bancorp stock in a transaction that occurred on Tuesday, July 31st. The shares were bought at an average price of $11.64 per share, for a total transaction of $116,400.00. Following the completion of the transaction, the executive vice president now owns 37,878 shares in the company, valued at $440,899.92. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 341,065 shares of company stock worth $4,401,743. 3.45% of the stock is owned by corporate insiders.

Several equities analysts have recently commented on VLY shares. Sandler O’Neill upgraded Valley National Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, April 26th. Morgan Stanley increased their price objective on Valley National Bancorp from $13.50 to $14.00 and gave the company an “equal weight” rating in a research report on Monday, April 30th. ValuEngine lowered Valley National Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Citigroup started coverage on Valley National Bancorp in a research report on Monday, June 18th. They set a “neutral” rating and a $14.00 price objective on the stock. Finally, Zacks Investment Research upgraded Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, July 15th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Valley National Bancorp currently has a consensus rating of “Buy” and an average target price of $13.97.

Valley National Bancorp Company Profile

Valley National Bancorp operates as the holding company for the Valley National Bank that provides commercial, retail, trust, and investment services. The company operates through Commercial Lending, Consumer Lending, and Investment Management segments. Its deposit products include non-interest bearing, savings, NOW, and money market deposits, as well as certificates of deposit.

Read More: Average Daily Trade Volume – What It Means In Stock Trading

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

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