640,537 Shares in Valley National Bancorp (NASDAQ:VLY) Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC acquired 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. The firm acquired 640,537 shares of the company's stock, valued at approximately $5,803,000. Cubist Systematic Strategies LLC owned 0.13% of Valley National Bancorp at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Meiji Yasuda Asset Management Co Ltd. raised its stake in 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 during the period. Rockefeller Capital Management L.P. raised its stake in Valley National Bancorp by 2.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 44,848 shares of the company's stock worth $406,000 after buying an additional 1,024 shares during the period. United Services Automobile Association raised its stake in shares of Valley National Bancorp by 3.7% in the 4th 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 during the period. PNC Financial Services Group Inc. raised its stake in shares of Valley National Bancorp by 2.2% in the 4th 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 raised its stake in shares of Valley National Bancorp by 12.0% in the 4th quarter. Empowered Funds LLC now owns 12,812 shares of the company's stock valued at $116,000 after purchasing an additional 1,371 shares during the period. Institutional investors and hedge funds own 61.00% of the company's stock.

Valley National Bancorp Stock Performance

NASDAQ:VLY traded down $0.03 on Friday, hitting $8.81. The company's stock had a trading volume of 6,621,013 shares, compared to its average volume of 7,216,785. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.10. The firm has a market capitalization of $4.93 billion, a P/E ratio of 12.77 and a beta of 1.05. The stock has a fifty day moving average of $8.62 and a two-hundred day moving average of $9.40. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $0.18 earnings per share 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 business had revenue of $479.67 million for the quarter, compared to analyst estimates of $483.98 million. During the same period in the previous year, the firm posted $0.19 earnings per share. Research analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 4.99%. The ex-dividend date was Friday, March 14th. Valley National Bancorp's payout ratio is presently 63.77%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on VLY shares. Citigroup lifted their price target on Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Barclays dropped their price target on Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Piper Sandler raised Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price target on the stock in a research note on Monday, March 24th. StockNews.com raised Valley National Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, April 26th. Finally, Royal Bank of Canada lifted their target price on Valley National Bancorp from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Valley National Bancorp currently has an average rating of "Hold" and a consensus price target of $10.67.

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.