Two Sigma Investments LP Sells 871,557 Shares of Valley National Bancorp (NASDAQ:VLY)

Two Sigma Investments LP lessened its holdings in Valley National Bancorp (NASDAQ:VLY - Free Report) by 67.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 419,315 shares of the company's stock after selling 871,557 shares during the period. Two Sigma Investments LP owned approximately 0.08% of Valley National Bancorp worth $3,799,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. R Squared Ltd purchased a new position in Valley National Bancorp in the fourth quarter valued at approximately $25,000. Point72 Hong Kong Ltd purchased a new position in Valley National Bancorp in the fourth quarter valued at approximately $39,000. Optiver Holding B.V. lifted its stake in 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 last quarter. CreativeOne Wealth LLC purchased a new position in Valley National Bancorp in the fourth quarter valued at approximately $102,000. Finally, Sapient Capital LLC purchased a new position in Valley National Bancorp in the fourth quarter valued at approximately $103,000. Hedge funds and other institutional investors own 61.00% of the company's stock.

Analysts Set New Price Targets

VLY has been the topic of several research analyst reports. 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. Barclays dropped their price objective 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 initiated coverage on Valley National Bancorp in a research note on Wednesday, May 21st. They issued a "hold" rating and a $10.00 price objective on the stock. Piper Sandler upgraded 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, Wall Street Zen downgraded Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Valley National Bancorp presently has an average rating of "Hold" and a consensus price target of $10.55.

Valley National Bancorp Stock Performance

Shares of NASDAQ:VLY traded down $0.14 during trading on Monday, hitting $8.64. 9,841,112 shares of the company were exchanged, compared to its average volume of 7,505,983. The company has a market cap of $4.84 billion, a PE ratio of 12.52 and a beta of 1.05. The stock has a 50 day moving average of $8.63 and a 200 day moving average of $9.30. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.98 and a quick ratio of 0.98.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last posted its 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). The company had revenue of $479.67 million for the quarter, compared to analysts' expectations 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 prior year, the company earned $0.19 EPS. As a group, equities research analysts predict that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Dividend Announcement

The company 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 $0.11 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.44 annualized dividend and a dividend yield of 5.09%. Valley National Bancorp's payout ratio is currently 63.77%.

About Valley National Bancorp

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.