Deutsche Bank AG Grows Holdings in Valley National Bancorp (NASDAQ:VLY)

Deutsche Bank AG raised its position in Valley National Bancorp (NASDAQ:VLY - Free Report) by 51.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 430,420 shares of the company's stock after purchasing an additional 147,001 shares during the period. Deutsche Bank AG owned about 0.08% of Valley National Bancorp worth $3,900,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of 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 valued at $104,000 after acquiring an additional 1,002 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of 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 valued at $406,000 after acquiring an additional 1,024 shares during the last quarter. United Services Automobile Association increased its position in Valley National Bancorp by 3.7% during the 4th quarter. United Services Automobile Association now owns 28,702 shares of the company's stock worth $260,000 after purchasing an additional 1,029 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Valley National Bancorp by 2.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 48,118 shares of the company's stock worth $436,000 after purchasing an additional 1,046 shares in the last quarter. Finally, Empowered Funds LLC increased its position in Valley National Bancorp by 12.0% during the 4th quarter. Empowered Funds LLC now owns 12,812 shares of the company's stock worth $116,000 after purchasing an additional 1,371 shares in the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on VLY. Citigroup increased their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Royal Bank of Canada increased their price objective on shares of Valley National Bancorp from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. Truist Financial began 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 for the company. Barclays lowered their price objective on shares of Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Valley National Bancorp presently has a consensus rating of "Hold" and an average price target of $10.60.

Valley National Bancorp Stock Performance

Valley National Bancorp stock opened at $9.05 on Tuesday. The stock has a market cap of $5.07 billion, a P/E ratio of 13.12 and a beta of 1.05. 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 50 day moving average of $8.65 and a 200-day moving average of $9.39. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.10.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last released its earnings results 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. During the same quarter last year, the company posted $0.19 earnings per share. On average, analysts expect that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend was Friday, March 14th. Valley National Bancorp's dividend payout ratio (DPR) is presently 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.

Want to see what other hedge funds are holding VLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valley National Bancorp (NASDAQ:VLY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.