UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 20.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,189,774 shares of the company's stock after purchasing an additional 199,097 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.23% of Valley National Bancorp worth $10,779,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of Valley National Bancorp during the 4th quarter valued at about $25,000. Point72 Hong Kong Ltd purchased a new stake in Valley National Bancorp in the fourth quarter worth about $39,000. Optiver Holding B.V. boosted its position in Valley National Bancorp by 80.9% during the 4th quarter. Optiver Holding B.V. now owns 5,079 shares of the company's stock valued at $46,000 after acquiring an additional 2,271 shares in the last quarter. CreativeOne Wealth LLC purchased a new position in shares of Valley National Bancorp during the 4th quarter worth approximately $102,000. Finally, Sapient Capital LLC bought a new position in shares of Valley National Bancorp in the 4th quarter worth approximately $103,000. 61.00% of the stock is currently owned by institutional investors.
Valley National Bancorp Price Performance
Shares of NASDAQ VLY traded up $0.15 during midday trading on Tuesday, reaching $8.79. The stock had a trading volume of 6,201,599 shares, compared to its average volume of 7,502,771. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 12.74 and a beta of 1.05. Valley National Bancorp has a 12-month low of $6.47 and a 12-month high of $11.10. The stock has a 50-day moving average of $8.63 and a 200-day moving average of $9.30. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.98 and a current ratio of 0.98.
Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.18 earnings per share (EPS) 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 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 posted $0.19 EPS. As a group, research analysts anticipate that Valley National Bancorp will post 0.99 EPS for the current fiscal year.
Valley National Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 5.01%. The ex-dividend date is Friday, June 13th. Valley National Bancorp's dividend payout ratio (DPR) is presently 63.77%.
Analyst Ratings Changes
Several brokerages recently weighed in on VLY. Barclays reduced 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. Truist Financial began coverage on shares of Valley National Bancorp in a research note on Tuesday, May 13th. They set a "hold" rating and a $10.00 price objective for the company. Wall Street Zen cut 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 price objective for the company in a report on Monday, March 24th. Finally, Jefferies Financial Group assumed coverage on Valley National Bancorp in a report on Wednesday, May 21st. They issued a "hold" rating and a $10.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $10.55.
Read Our Latest Research Report on VLY
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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