Bayesian Capital Management LP purchased a new position in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 52,700 shares of the company's stock, valued at approximately $477,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Valley National Bancorp by 9.2% in the fourth quarter. Vanguard Group Inc. now owns 50,002,161 shares of the company's stock valued at $453,020,000 after purchasing an additional 4,204,651 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Valley National Bancorp by 10.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 28,663,209 shares of the company's stock worth $259,692,000 after buying an additional 2,810,005 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Valley National Bancorp by 90.2% during the fourth quarter. Wellington Management Group LLP now owns 17,059,328 shares of the company's stock worth $154,558,000 after buying an additional 8,088,466 shares in the last quarter. Geode Capital Management LLC boosted its stake in Valley National Bancorp by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 11,821,134 shares of the company's stock worth $107,122,000 after purchasing an additional 656,200 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Valley National Bancorp by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,612,156 shares of the company's stock valued at $68,966,000 after buying an additional 640,933 shares during the period. Institutional investors and hedge funds own 61.00% of the company's stock.
Valley National Bancorp Trading Up 4.3%
Shares of VLY traded up $0.38 during trading hours on Monday, reaching $9.19. The stock had a trading volume of 2,287,597 shares, compared to its average volume of 7,199,478. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.10. The firm has a 50-day moving average of $8.62 and a 200 day moving average of $9.40. The company has a market cap of $5.14 billion, a P/E ratio of 13.31 and a beta of 1.05.
Valley National Bancorp (NASDAQ:VLY - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $483.98 million. During the same quarter last year, the company posted $0.19 EPS. On average, sell-side analysts expect 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 disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.11 per share. The ex-dividend date was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.79%. Valley National Bancorp's dividend payout ratio is 63.77%.
Analysts Set New Price Targets
A number of brokerages have issued reports on VLY. Citigroup lifted their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. StockNews.com raised Valley National Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, April 26th. Barclays decreased their price objective on Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Piper Sandler raised Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 target price on the stock in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. boosted their price objective 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. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $10.67.
Read Our Latest Analysis on VLY
About Valley National Bancorp
(
Free Report)
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.
Featured Stories
Before you consider Valley National Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Valley National Bancorp wasn't on the list.
While Valley National Bancorp currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
