Over 29,000 Shares Of Valley National Bancorp Were Acquired By Drive Wealth Management

A prominent investment management firm, Drive Wealth Management LLC, has announced the purchase of 29,257 shares of Valley National Bancorp (NASDAQ:VLY), a financial institution that has a market capitalization of $4.29 billion, a highly reputable financial institution. There is a current market value for these newly acquired shares of these companies of approximately $334,000. The latest Form 13F filing with the Securities & Exchange Commission revealed this.

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In light of this recent development in the financial industry, equity analysts have been able to share their thoughts about how VLY's performance has been faring. It was on Thursday that Raymond James, one of the key players within the industry, lowered its price target for the company from $13.00 to $12.00 and assigned it the strong-buy rating. Accordingly, JP Morgan Chase & Co. followed up by dropping its price target for shares from $11.50 to $9.00.

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Other notable players in the industry, such as Keefe, Bruyette & Woods, who had predicted Valley National Bancorp's share price to drop from $15.50 to $14.50 during the past few months, have also cut their price estimates for that stock from $15.50 to $14.50. They have also recommended that stock be rated as outperform.

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In a report published on Wednesday, Morgan Stanley, who read the report and gave an equal weight rating to VLY stock in a report dated January 16, lowered their price target from $13.00 to $9.00 and lowered their price target from $13.00 to $9.00.

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In an analysis conducted by Trade Algo, the average rating of Valley National Bancorp is "Moderate Buy" and the average target price is $12.21 according to six of the equities research analysts who provided information on Valley National Bancorp.

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NASDAQ VLY opened on Friday at $8.45 with a beta value of 1.08 and a P/E ratio of 7.48 despite experiencing some minor hiccups recently. In addition to offering stable returns over time, it has a moderately attractive P/E ratio for investors looking for short-term returns or speculative opportunities that carry high risks.

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As compared to its competitors in the industry, its debt-to-equity ratio remains low at 0.26, which is considered to be a sign of the company's financial stability and ability to continue operations in the future. Its current ratio is 0.97 and its quick ratio is 0.97 which also contribute towards its financial stability.

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This stock has a 50-day moving average price of $10.80 and a 200-day moving average price of $11.34, making it an attractive investment for value investors looking for long-term investments. In one year, Valley National Bancorp recorded a low of $8.26 and a high of $13.07 and recorded a one-year high of $13.07.

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It is safe to say that Valley National Bancorp represents an attractive investment opportunity. Several eminent firms, including &Drive Wealth Management LLC, have been interested in investing in Valley National Bancorp, and several analysts have made positive recommendations. It has demonstrated strong sustainable growth potential ripe for optimal returns on investment over time, as evidenced by substantial data evidence.

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Despite a decline in institutional investors, Valley National Bancorp has seen an increase in personal investments from its directors

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It is no secret that institutional investors have been changing their holdings of Valley National Bancorp, the financial services holding company. For example, Wellington Management Group LLP has increased its stake in Valley National Bancorp by 153.8%, and the company now owns nearly 9 million shares worth $115 million in the company. As well as this, State Street Corp has increased its shareholdings by over 11% to now own 20.6 million shares that are valued at $270 million. As a result of the purchase, the Vanguard Group now owns over 41 million shares of the company, valued at around $542 million. Capital World Investors and Macquarie Group Ltd also purchased shares, but their investments in the company were smaller, but still worth millions of dollars.

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A number of years ago, a director of Valley National Bancorp, Marc J Lenner, used his personal funds to purchase shares of the company. The amount he spent for acquiring 5,000 shares of the company was over $54k, which meant that he acquired 5,000 shares at an average price of $10.93 per share. He now owns more than 93 thousand shares of the company worth over a million dollars.

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As reported on January 26th this year, Valley National Bancorp missed a one cent EPS target for the first quarter but experts expect the company to earn approximately $1.35 per share for the entire year ending December 31st 2017, despite the fact that the company missed the target by one cent.

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A number of expert analysts have given their opinions on the stock values of VLY recently, including Raymond James who rated it a "strong buy", Keefe Bruyette & Woods who rated it as "outperform" and Morgan Stanley who rated it an "equal weight". It has been observed that Trade Algo data averaging these ratings describes VLY's rating slightly positively, indicating a moderate potential to become a good buyer.

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Also recently, Valley National Bancorp released their dividend plans for its shareholders. They plan to pay out approximately $44 million in dividends per year to shareholders by distributing a quarterly dividend of $0.11 per share. It was set for March 14th that the dividend would be payable, and it was paid out in cash on April 3rd. Due to greater optimism about future earnings, investors are positioning themselves for future increases in the value of the stock because the DPR at the moment stands at 38.94%, which indicates that investors anticipate future increases.

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In light of all of these news, stakeholders have plenty of opportunities to get involved with Valley National Bancorp and to take advantage of potential upsides as the company's popularity among institutional investors continues to grow over time, especially as its institutional popularity continues to grow in the current market.