D. E. Shaw & Co. Inc. Has $3.97 Million Holdings in Valley National Bancorp (NASDAQ:VLY)

D. E. Shaw & Co. Inc. trimmed its stake in Valley National Bancorp (NASDAQ:VLY - Free Report) by 39.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 438,164 shares of the company's stock after selling 291,027 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.09% of Valley National Bancorp worth $3,970,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of VLY. R Squared Ltd acquired a new position in shares of Valley National Bancorp in the 4th quarter worth $25,000. Optiver Holding B.V. grew its holdings in shares of Valley National Bancorp by 80.9% during the fourth quarter. Optiver Holding B.V. now owns 5,079 shares of the company's stock valued at $46,000 after buying an additional 2,271 shares in the last quarter. CreativeOne Wealth LLC purchased a new position in shares of Valley National Bancorp during the fourth quarter valued at $102,000. Sapient Capital LLC purchased a new position in shares of Valley National Bancorp during the fourth quarter valued at $103,000. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Valley National Bancorp by 9.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company's stock valued at $104,000 after buying an additional 1,002 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Valley National Bancorp from $10.50 to $11.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Barclays lowered their price target 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. Wall Street Zen downgraded Valley National Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Piper Sandler upgraded Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price target on the stock in a report on Monday, March 24th. Finally, Truist Financial initiated coverage on Valley National Bancorp in a report on Tuesday, May 13th. They set a "hold" rating and a $10.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $10.55.

Valley National Bancorp Stock Up 0.1%

VLY traded up $0.01 during trading on Friday, reaching $8.70. 8,485,060 shares of the stock traded hands, compared to its average volume of 7,441,935. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 12.61 and a beta of 1.05. Valley National Bancorp has a fifty-two week low of $6.47 and a fifty-two week high of $11.10. 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 stock's 50-day simple moving average is $8.65 and its two-hundred day simple moving average is $9.37.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced 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 return on equity of 5.14% and a net margin of 10.62%. The company had revenue of $479.67 million during the quarter, compared to analyst estimates of $483.98 million. During the same period in the prior year, the firm earned $0.19 EPS. As a group, equities research analysts expect that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.06%. Valley National Bancorp's dividend payout ratio is currently 63.77%.

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.