Algert Global LLC Takes $738,000 Position in Valley National Bancorp (NASDAQ:VLY)

Algert Global LLC acquired a new stake in Valley National Bancorp (NASDAQ:VLY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 81,492 shares of the company's stock, valued at approximately $738,000.

Other institutional investors also recently bought and sold shares of the company. R Squared Ltd acquired a new position in Valley National Bancorp in the 4th quarter valued at $25,000. Optiver Holding B.V. increased its stake in Valley National Bancorp by 80.9% in the 4th quarter. Optiver Holding B.V. now owns 5,079 shares of the company's stock valued at $46,000 after buying an additional 2,271 shares during the period. Sapient Capital LLC purchased a new stake in shares of Valley National Bancorp during the 4th quarter worth $103,000. CreativeOne Wealth LLC purchased a new stake in shares of Valley National Bancorp during the 4th quarter worth $102,000. Finally, Financial Engines Advisors L.L.C. purchased a new stake in shares of Valley National Bancorp during the 4th quarter worth $104,000. 61.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VLY has been the topic of several research analyst reports. Barclays decreased their target price on shares of Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. boosted their target price on shares of Valley National Bancorp from $10.50 to $11.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Royal Bank of Canada boosted their target price on shares of Valley National Bancorp from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. StockNews.com upgraded shares of Valley National Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, April 26th. Finally, Piper Sandler upgraded shares of Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 target price on the stock in a research report on Monday, March 24th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $10.67.

Valley National Bancorp Price Performance

Valley National Bancorp stock opened at $8.81 on Monday. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. The firm's 50-day simple moving average is $8.62 and its 200 day simple moving average is $9.40. The firm has a market capitalization of $4.93 billion, a PE ratio of 12.77 and a beta of 1.05.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. The business had revenue of $479.67 million during the quarter, compared to analysts' expectations of $483.98 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. On average, equities research analysts predict that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.11 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 4.99%. Valley National Bancorp's dividend payout ratio (DPR) is 63.77%.

Valley National Bancorp 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.

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