Deutsche Bank AG Has $3.90 Million Stock Holdings in Valley National Bancorp (NASDAQ:VLY)

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

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Valley National Bancorp during the 4th quarter worth approximately $31,490,000. Xponance Inc. grew its holdings in Valley National Bancorp by 13.7% during the 4th quarter. Xponance Inc. now owns 66,588 shares of the company's stock worth $603,000 after acquiring an additional 8,032 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings 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 acquiring an additional 5,181 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Valley National Bancorp by 27.8% during the 4th quarter. Bank of New York Mellon Corp now owns 6,101,280 shares of the company's stock worth $55,278,000 after acquiring an additional 1,327,829 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Valley National Bancorp by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,612,156 shares of the company's stock worth $68,966,000 after acquiring an additional 640,933 shares during the last quarter. 61.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VLY. Jefferies Financial Group initiated coverage on shares of Valley National Bancorp in a report on Wednesday. They set a "hold" rating and a $10.00 target price on the stock. Barclays reduced 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 research note on Tuesday, April 8th. Citigroup upped 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 note on Monday, January 27th. Truist Financial initiated coverage on shares of Valley National Bancorp in a research note on Tuesday, May 13th. They issued a "hold" rating and a $10.00 price objective on the stock. Finally, 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 note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Valley National Bancorp has an average rating of "Hold" and a consensus target price of $10.55.

Valley National Bancorp Stock Up 0.1%

NASDAQ VLY traded up $0.01 on Friday, hitting $8.70. 8,485,060 shares of the company were exchanged, compared to its average volume of 7,460,757. The company has a market cap of $4.87 billion, a PE ratio of 12.61 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. The stock has a fifty day moving average of $8.65 and a 200-day moving average of $9.36. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). The company had revenue of $479.67 million for the quarter, compared to the consensus estimate 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 period in the prior year, the company earned $0.19 earnings per share. As a group, analysts forecast that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 5.06%. The ex-dividend date is Friday, June 13th. Valley National Bancorp's dividend payout ratio is presently 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.