Valley National Bancorp (NASDAQ:VLY) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its position in Valley National Bancorp (NASDAQ:VLY - Free Report) by 10.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,663,209 shares of the company's stock after acquiring an additional 2,810,005 shares during the quarter. Dimensional Fund Advisors LP owned 5.63% of Valley National Bancorp worth $259,692,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in VLY. Meiji Yasuda Asset Management Co Ltd. increased its stake in Valley National Bancorp by 9.5% in 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. increased its stake in Valley National Bancorp by 2.3% in 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 increased its stake in Valley National Bancorp by 3.7% in the 4th quarter. United Services Automobile Association now owns 28,702 shares of the company's stock worth $260,000 after buying an additional 1,029 shares during the period. PNC Financial Services Group Inc. increased its stake in 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 worth $436,000 after buying an additional 1,046 shares during the period. Finally, Empowered Funds LLC increased its stake in Valley National Bancorp by 12.0% in the 4th quarter. Empowered Funds LLC now owns 12,812 shares of the company's stock worth $116,000 after buying an additional 1,371 shares during the period. Institutional investors own 61.00% of the company's stock.

Valley National Bancorp Stock Down 1.6 %

Shares of VLY traded down $0.14 during midday trading on Friday, hitting $8.59. 7,483,777 shares of the company's stock traded hands, compared to its average volume of 7,116,235. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.10. The firm's fifty day moving average is $8.79 and its 200-day moving average is $9.44. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 12.45 and a beta of 1.06.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued 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 net margin of 10.62% and a return on equity of 5.14%. The business had revenue of $479.67 million for the quarter, compared to analysts' expectations of $483.98 million. As a group, sell-side analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current 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 issued a dividend of $0.11 per share. The ex-dividend date was Friday, March 14th. This represents a $0.44 annualized dividend and a dividend yield of 5.12%. Valley National Bancorp's dividend payout ratio is presently 63.77%.

Insider Activity

In related news, EVP Joseph Chillura sold 50,000 shares of the company's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total value of $510,500.00. Following the transaction, the executive vice president now directly owns 495,249 shares of the company's stock, valued at $5,056,492.29. This represents a 9.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.43% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on VLY. JPMorgan Chase & Co. raised their price target on shares of Valley National Bancorp from $10.50 to $11.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Citigroup raised their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Stephens reissued an "overweight" rating and set a $12.50 target price on shares of Valley National Bancorp in a research report on Thursday, January 2nd. StockNews.com raised shares of Valley National Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Barclays cut their price objective on shares of 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. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Valley National Bancorp currently has a consensus rating of "Hold" and an average price target of $10.67.

About Valley National Bancorp

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.