Stephens Inc. AR purchased a new stake in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 29,973 shares of the company's stock, valued at approximately $266,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of VLY. Farther Finance Advisors LLC grew its position in Valley National Bancorp by 206.6% in the first quarter. Farther Finance Advisors LLC now owns 4,298 shares of the company's stock worth $38,000 after acquiring an additional 2,896 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Valley National Bancorp in the fourth quarter worth approximately $39,000. Brown Lisle Cummings Inc. purchased a new position in shares of Valley National Bancorp during the first quarter worth approximately $39,000. Optiver Holding B.V. boosted its holdings 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 purchasing an additional 2,271 shares during the period. Finally, UMB Bank n.a. grew its stake in Valley National Bancorp by 219.6% in the first quarter. UMB Bank n.a. now owns 5,571 shares of the company's stock worth $50,000 after purchasing an additional 3,828 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company's stock.
Valley National Bancorp Stock Up 0.2%
NASDAQ VLY traded up $0.02 during mid-day trading on Monday, hitting $9.53. The company's stock had a trading volume of 6,303,936 shares, compared to its average volume of 8,041,551. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The company's 50 day simple moving average is $9.03 and its 200 day simple moving average is $9.10. Valley National Bancorp has a twelve month low of $7.18 and a twelve month high of $11.10. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 13.81 and a beta of 1.06.
Valley National Bancorp (NASDAQ:VLY - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). Valley National Bancorp had a return on equity of 5.12% and a net margin of 11.03%. The firm had revenue of $479.67 million for the quarter, compared to analysts' expectations of $483.98 million. During the same quarter last year, the firm posted $0.19 earnings per share. Analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current year.
Valley National Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 4.62%. The ex-dividend date was Friday, June 13th. Valley National Bancorp's dividend payout ratio (DPR) is presently 63.77%.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on VLY shares. Wall Street Zen lowered Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Piper Sandler raised shares of Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 target price on the stock in a research note on Monday, March 24th. Morgan Stanley raised shares of Valley National Bancorp from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $10.00 to $11.00 in a research report on Thursday, July 3rd. Jefferies Financial Group started coverage on shares of Valley National Bancorp in a report on Wednesday, May 21st. They set a "hold" rating and a $10.00 target price on the stock. Finally, Truist Financial assumed coverage on Valley National Bancorp in a research report on Tuesday, May 13th. They set a "hold" rating and a $10.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Valley National Bancorp has a consensus rating of "Hold" and a consensus price target of $10.73.
Read Our Latest Stock Analysis on Valley National Bancorp
About Valley National Bancorp
(
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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