Two Sigma Investments LP Lowers Holdings in Valley National Bancorp (NASDAQ:VLY)

Two Sigma Investments LP cut its position in Valley National Bancorp (NASDAQ:VLY - Free Report) by 67.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 419,315 shares of the company's stock after selling 871,557 shares during the quarter. Two Sigma Investments LP owned about 0.08% of Valley National Bancorp worth $3,799,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Valley National Bancorp by 9.2% during the fourth quarter. Vanguard Group Inc. now owns 50,002,161 shares of the company's stock worth $453,020,000 after purchasing an additional 4,204,651 shares during the period. Dimensional Fund Advisors LP grew its position in Valley National Bancorp by 10.9% during 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 in the last quarter. Wellington Management Group LLP increased its stake in Valley National Bancorp by 90.2% during the 4th quarter. Wellington Management Group LLP now owns 17,059,328 shares of the company's stock worth $154,558,000 after acquiring an additional 8,088,466 shares during the period. Geode Capital Management LLC increased its stake in Valley National Bancorp by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 11,821,134 shares of the company's stock worth $107,122,000 after acquiring an additional 656,200 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new position in Valley National Bancorp in the 4th quarter valued at $74,558,000. 61.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler raised shares of Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price target for the company in a report on Monday, March 24th. Wall Street Zen cut Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Barclays decreased their price target on 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. Jefferies Financial Group began coverage on Valley National Bancorp in a report on Wednesday, May 21st. They set a "hold" rating and a $10.00 price target for the company. Finally, Truist Financial initiated coverage on Valley National Bancorp in a research note on Tuesday, May 13th. They issued a "hold" rating and a $10.00 price objective on the stock. One equities research 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 has a consensus rating of "Hold" and a consensus target price of $10.55.

Valley National Bancorp Price Performance

NASDAQ:VLY traded down $0.02 during midday trading on Friday, hitting $8.82. The company had a trading volume of 12,346,758 shares, compared to its average volume of 7,497,481. The company has a market capitalization of $4.94 billion, a PE ratio of 12.78 and a beta of 1.05. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.10. The stock's fifty day moving average price is $8.64 and its 200-day moving average price is $9.32.

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). The business had revenue of $479.67 million during the quarter, compared to the consensus estimate of $483.98 million. Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. During the same quarter in the previous year, the firm posted $0.19 earnings per share. As a group, research analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid 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 4.99%. Valley National Bancorp's dividend payout ratio (DPR) is presently 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.