MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Valley National Bancorp (NASDAQ:VLY - Free Report) by 12.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 266,372 shares of the company's stock after acquiring an additional 30,284 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.05% of Valley National Bancorp worth $2,413,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. R Squared Ltd acquired a new position in shares of Valley National Bancorp in the fourth quarter valued at about $25,000. Optiver Holding B.V. grew its stake in shares of Valley National Bancorp by 80.9% in the fourth quarter. Optiver Holding B.V. now owns 5,079 shares of the company's stock valued at $46,000 after acquiring an additional 2,271 shares in the last quarter. CreativeOne Wealth LLC acquired a new position in shares of Valley National Bancorp in the fourth quarter valued at about $102,000. Sapient Capital LLC acquired a new position in shares of Valley National Bancorp in the fourth quarter valued at about $103,000. Finally, Meiji Yasuda Asset Management Co Ltd. grew its stake in 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 worth $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.
Analysts Set New Price Targets
A number of equities research analysts have issued reports 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. Truist Financial assumed coverage on shares of Valley National Bancorp in a research note on Tuesday, May 13th. They set a "hold" rating and a $10.00 price objective on the stock. Wall Street Zen downgraded shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Piper Sandler upgraded 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. Finally, Citigroup increased their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. One investment 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 presently has a consensus rating of "Hold" and a consensus target price of $10.55.
View Our Latest Stock Analysis on VLY
Valley National Bancorp Price Performance
Shares of VLY traded up $0.22 during mid-day trading on Tuesday, reaching $8.92. The company had a trading volume of 7,665,096 shares, compared to its average volume of 7,461,575. The company's 50 day simple moving average is $8.65 and its 200 day simple moving average is $9.35. Valley National Bancorp has a 1-year low of $6.47 and a 1-year high of $11.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 12.93 and a beta of 1.05.
Valley National Bancorp (NASDAQ:VLY - Get Free Report) last posted 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 net margin of 10.62% and a return on equity of 5.14%. The company had revenue of $479.67 million during the quarter, compared to analyst estimates of $483.98 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. Analysts expect that Valley National Bancorp will post 0.99 EPS for the current year.
Valley National Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.11 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.44 dividend on an annualized basis and a yield of 4.93%. Valley National Bancorp's dividend payout ratio (DPR) is presently 63.77%.
Valley National Bancorp 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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