Universal Beteiligungs und Servicegesellschaft mbH Makes New $3.28 Million Investment in Valley National Bancorp (NASDAQ:VLY)

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 361,757 shares of the company's stock, valued at approximately $3,278,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.07% of Valley National Bancorp at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. bought a new stake in Valley National Bancorp during the 4th quarter worth $74,558,000. Wellington Management Group LLP raised 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 purchasing an additional 8,088,466 shares during the last quarter. Vanguard Group Inc. grew its holdings 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 valued at $453,020,000 after acquiring an additional 4,204,651 shares in the last quarter. Norges Bank purchased a new stake in shares of Valley National Bancorp during the fourth quarter valued at approximately $31,490,000. Finally, Soros Fund Management LLC purchased a new stake in shares of Valley National Bancorp during the fourth quarter valued at approximately $27,180,000. 61.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on VLY shares. Piper Sandler raised Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price objective for the company in a research note on Monday, March 24th. Wall Street Zen downgraded Valley National Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Truist Financial began coverage on Valley National Bancorp in a report on Tuesday, May 13th. They set a "hold" rating and a $10.00 target price on the stock. 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 target price on the stock. Finally, Barclays reduced their target price on Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $10.55.

Valley National Bancorp Stock Up 2.9%

Shares of Valley National Bancorp stock traded up $0.25 during midday trading on Friday, hitting $8.90. The company had a trading volume of 9,552,569 shares, compared to its average volume of 7,585,821. 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 stock has a market capitalization of $4.98 billion, a P/E ratio of 12.90 and a beta of 1.06. The company has a 50 day moving average of $8.62 and a 200 day moving average of $9.27. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.10.

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 the consensus estimate of $0.19 by ($0.01). The company had revenue of $479.67 million during 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 previous year, the company earned $0.19 EPS. On average, equities analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current fiscal 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 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 4.94%. Valley National Bancorp's payout ratio is 63.77%.

Valley National Bancorp Company 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.