Focus Partners Wealth Acquires New Position in Valley National Bancorp (NASDAQ:VLY)

Focus Partners Wealth purchased a new stake in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 45,107 shares of the company's stock, valued at approximately $409,000.

A number of other institutional investors and hedge funds have also bought and sold shares of VLY. Meiji Yasuda Asset Management Co Ltd. raised its holdings in 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 buying an additional 1,002 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Valley National Bancorp by 2.3% during the fourth 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 boosted its holdings in shares of Valley National Bancorp by 3.7% during the fourth 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 during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Valley National Bancorp by 2.2% during the fourth 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 during the period. Finally, Empowered Funds LLC grew its stake in shares of Valley National Bancorp by 12.0% in the fourth quarter. Empowered Funds LLC now owns 12,812 shares of the company's stock worth $116,000 after purchasing an additional 1,371 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on VLY shares. Citigroup upped their price target on Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Royal Bank of Canada boosted their target price on Valley National Bancorp from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Jefferies Financial Group began coverage on Valley National Bancorp in a research note on Wednesday. They issued a "hold" rating and a $10.00 price target for the company. Barclays cut their price target on shares of 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. Finally, Wall Street Zen lowered shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. One 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. According to MarketBeat.com, Valley National Bancorp currently has an average rating of "Hold" and an average price target of $10.55.

Valley National Bancorp Stock Up 0.1%

Shares of NASDAQ:VLY traded up $0.01 during midday trading on Friday, reaching $8.70. The company's stock had a trading volume of 8,485,060 shares, compared to its average volume of 7,441,948. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $8.66 and a 200-day moving average of $9.38. The firm has a market capitalization of $4.87 billion, a P/E 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.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last posted its quarterly earnings data 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 return on equity of 5.14% and a net margin of 10.62%. The business had revenue of $479.67 million for the quarter, compared to the consensus estimate of $483.98 million. During the same period in the previous year, the firm earned $0.19 EPS. On average, research analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

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