Aquatic Capital Management LLC Makes New $2.31 Million Investment in Valley National Bancorp (NASDAQ:VLY)

Aquatic Capital Management LLC purchased a new stake in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 255,406 shares of the company's stock, valued at approximately $2,314,000. Aquatic Capital Management LLC owned about 0.05% of Valley National Bancorp at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Valley National Bancorp by 9.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company's stock worth $104,000 after buying an additional 1,002 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in Valley National Bancorp by 2.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 44,848 shares of the company's stock worth $406,000 after acquiring an additional 1,024 shares in the last quarter. United Services Automobile Association increased its stake in Valley National Bancorp by 3.7% in the fourth quarter. United Services Automobile Association now owns 28,702 shares of the company's stock valued at $260,000 after purchasing an additional 1,029 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Valley National Bancorp by 2.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 48,118 shares of the company's stock valued at $436,000 after purchasing an additional 1,046 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of Valley National Bancorp by 12.0% during the 4th quarter. Empowered Funds LLC now owns 12,812 shares of the company's stock worth $116,000 after purchasing an additional 1,371 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Valley National Bancorp Stock Up 2.2 %

Valley National Bancorp stock traded up $0.19 during mid-day trading on Friday, reaching $8.90. 9,332,264 shares of the company were exchanged, compared to its average volume of 7,136,088. The business has a fifty day moving average of $8.69 and a 200 day moving average of $9.42. Valley National Bancorp has a 12-month low of $6.47 and a 12-month high of $11.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $4.98 billion, a P/E ratio of 12.90 and a beta of 1.06.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.18 earnings per share (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 firm had revenue of $479.67 million during the quarter, compared to analysts' expectations of $483.98 million. During the same quarter in the previous year, the business earned $0.19 earnings per share. Research analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend was Friday, March 14th. Valley National Bancorp's dividend payout ratio (DPR) is 63.77%.

Wall Street Analysts Forecast Growth

VLY has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price target on Valley National Bancorp from $10.50 to $11.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Citigroup upped their target price on Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Piper Sandler raised shares of Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price objective on the stock in a report on Monday, March 24th. Barclays reduced their price target on Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, StockNews.com upgraded shares of Valley National Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, April 26th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $10.67.

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.