Fiduciary Trust Co Takes Position in Valley National Bancorp (NASDAQ:VLY)

Fiduciary Trust Co purchased a new position in Valley National Bancorp (NASDAQ:VLY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 27,622 shares of the company's stock, valued at approximately $250,000.

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

Valley National Bancorp Stock Performance

Valley National Bancorp stock remained flat at $9.16 during midday trading on Friday. The company had a trading volume of 8,668,195 shares, compared to its average volume of 7,283,422. The business's 50 day moving average is $8.63 and its two-hundred day moving average is $9.40. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.10. The company has a market capitalization of $5.13 billion, a PE ratio of 13.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.98 and a current ratio of 0.98.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its quarterly 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 net margin of 10.62% and a return on equity of 5.14%. The firm had revenue of $479.67 million during the quarter, compared to the consensus estimate of $483.98 million. During the same quarter last year, the firm posted $0.19 earnings per share. On average, equities analysts anticipate that Valley National Bancorp will post 0.99 EPS 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. Shareholders 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 dividend on an annualized basis and a dividend yield of 4.80%. Valley National Bancorp's dividend payout ratio (DPR) is 63.77%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on VLY shares. Truist Financial assumed coverage on shares of Valley National Bancorp in a research note on Tuesday. They issued a "hold" rating and a $10.00 target price for the company. Piper Sandler upgraded 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. JPMorgan Chase & Co. raised their target price on Valley National Bancorp from $10.50 to $11.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Royal Bank of Canada boosted their price target on Valley National Bancorp from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. Finally, StockNews.com raised Valley National Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, April 26th. Seven investment 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, Valley National Bancorp has an average rating of "Hold" and a consensus price target of $10.60.

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.