73,303 Shares in Valley National Bancorp (NASDAQ:VLY) Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas acquired a new position in Valley National Bancorp (NASDAQ:VLY - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 73,303 shares of the company's stock, valued at approximately $652,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VLY. Vanguard Group Inc. grew its stake in shares of Valley National Bancorp by 9.2% in the fourth quarter. Vanguard Group Inc. now owns 50,002,161 shares of the company's stock worth $453,020,000 after acquiring an additional 4,204,651 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Valley National Bancorp by 10.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 28,663,209 shares of the company's stock worth $259,692,000 after buying an additional 2,810,005 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Valley National Bancorp by 90.2% in the fourth quarter. Wellington Management Group LLP now owns 17,059,328 shares of the company's stock worth $154,558,000 after buying an additional 8,088,466 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Valley National Bancorp by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 11,821,134 shares of the company's stock valued at $107,122,000 after buying an additional 656,200 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Valley National Bancorp during the fourth quarter valued at approximately $74,558,000. 61.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays reiterated an "underweight" rating on shares of Valley National Bancorp in a research report on Tuesday, July 8th. Truist Financial began coverage on shares of Valley National Bancorp in a report on Tuesday, May 13th. They set a "hold" rating and a $10.00 target price for the company. Wall Street Zen downgraded shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, May 17th. Jefferies Financial Group started coverage on shares of Valley National Bancorp in a research report on Wednesday, May 21st. They set 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 target price for the company in a report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $10.73.

Valley National Bancorp Stock Up 0.5%

Shares of NASDAQ VLY traded up $0.05 during trading hours on Friday, hitting $9.51. 6,547,803 shares of the stock were exchanged, compared to its average volume of 8,040,164. Valley National Bancorp has a 12 month low of $7.18 and a 12 month high of $11.10. The company has a market cap of $5.33 billion, a PE ratio of 13.78 and a beta of 1.06. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.41. The firm has a fifty day moving average price of $9.03 and a 200-day moving average price of $9.09.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its quarterly earnings data 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 11.03% and a return on equity of 5.12%. The firm had revenue of $479.67 million during the quarter, compared to analyst estimates of $483.98 million. During the same period in the prior year, the company posted $0.19 earnings per share. On average, sell-side analysts expect that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a dividend of $0.11 per share. The ex-dividend date was Friday, June 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.63%. Valley National Bancorp's payout ratio is 63.77%.

Valley National Bancorp 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.