BNP Paribas Financial Markets Cuts Stake in Valley National Bancorp (NASDAQ:VLY)

BNP Paribas Financial Markets reduced its holdings in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 55.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 137,300 shares of the company's stock after selling 168,295 shares during the period. BNP Paribas Financial Markets' holdings in Valley National Bancorp were worth $1,244,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in VLY. Hennion & Walsh Asset Management Inc. increased its stake in Valley National Bancorp by 17.0% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 35,600 shares of the company's stock worth $323,000 after buying an additional 5,181 shares during the period. SG Americas Securities LLC increased its stake in Valley National Bancorp by 22.4% during the 4th quarter. SG Americas Securities LLC now owns 56,228 shares of the company's stock worth $509,000 after buying an additional 10,300 shares during the period. KBC Group NV increased its position in shares of Valley National Bancorp by 24.8% in the 4th quarter. KBC Group NV now owns 18,035 shares of the company's stock valued at $163,000 after purchasing an additional 3,585 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Valley National Bancorp by 8.8% in the 4th quarter. Pacer Advisors Inc. now owns 67,976 shares of the company's stock valued at $616,000 after purchasing an additional 5,503 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Valley National Bancorp in the 4th quarter valued at approximately $25,000. 61.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VLY has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday. JPMorgan Chase & Co. increased their price objective on shares of Valley National Bancorp from $10.50 to $11.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. 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 research report on Monday, March 24th. Truist Financial initiated coverage on shares of Valley National Bancorp in a research report on Tuesday, May 13th. They issued a "hold" rating and a $10.00 price objective on the stock. Finally, Citigroup increased their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Valley National Bancorp has a consensus rating of "Hold" and an average target price of $10.60.

Valley National Bancorp Trading Down 1.2%

NASDAQ VLY opened at $9.05 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.98 and a quick ratio of 0.98. The firm's fifty day moving average price is $8.65 and its 200 day moving average price is $9.39. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 13.12 and a beta of 1.05. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.10.

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). The business had revenue of $479.67 million for the quarter, compared to analyst estimates of $483.98 million. Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. During the same quarter in the prior year, the company earned $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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date of this dividend was Friday, March 14th. Valley National Bancorp's dividend payout ratio is currently 63.77%.

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.

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