Focus Partners Wealth purchased a new position in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 45,107 shares of the company's stock, valued at approximately $409,000.
Other hedge funds have also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in Valley National Bancorp during the 4th quarter valued at about $25,000. Optiver Holding B.V. boosted its stake 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 purchasing an additional 2,271 shares during the period. CreativeOne Wealth LLC bought a new position in shares of Valley National Bancorp in the fourth quarter worth approximately $102,000. Sapient Capital LLC purchased a new position in shares of Valley National Bancorp in the fourth quarter worth $103,000. Finally, 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. 61.00% of the stock is currently owned by institutional investors.
Valley National Bancorp Stock Up 0.1%
Valley National Bancorp stock traded up $0.01 on Monday, hitting $8.70. 8,485,060 shares of the stock traded hands, compared to its average volume of 7,460,757. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.10. The firm has a market cap of $4.87 billion, a P/E ratio of 12.61 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 business's fifty day simple moving average is $8.65 and its 200 day simple moving average is $9.35.
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 (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 during the quarter, compared to the consensus estimate of $483.98 million. During the same quarter in the previous year, the business earned $0.19 earnings per share. As a group, sell-side analysts forecast that Valley National Bancorp will post 0.99 earnings per share 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. Stockholders of record on Friday, June 13th will be issued a dividend of $0.11 per share. 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 presently 63.77%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on VLY shares. 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. 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. 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. Wall Street Zen lowered Valley National Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, May 17th. Finally, Jefferies Financial Group began coverage on Valley National Bancorp in a research note on Wednesday, May 21st. They set a "hold" rating and a $10.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $10.55.
Check Out Our Latest Report on Valley National Bancorp
Valley National Bancorp Company Profile
(
Free Report)
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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