Valley National Bancorp (NASDAQ:VLY) Shares Acquired by Cwm LLC

Cwm LLC lifted its holdings in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 419.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 129,571 shares of the company's stock after acquiring an additional 104,640 shares during the period. Cwm LLC's holdings in Valley National Bancorp were worth $1,152,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Balyasny Asset Management L.P. acquired a new position in Valley National Bancorp during the 4th quarter worth approximately $74,558,000. Wellington Management Group LLP grew its holdings 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 valued at $154,558,000 after buying an additional 8,088,466 shares during the last quarter. Vanguard Group Inc. grew its holdings in Valley National Bancorp by 9.2% during the 4th quarter. Vanguard Group Inc. now owns 50,002,161 shares of the company's stock valued at $453,020,000 after buying an additional 4,204,651 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in Valley National Bancorp during the 1st quarter valued at $32,286,000. Finally, Norges Bank acquired a new stake in shares of Valley National Bancorp during the fourth quarter worth $31,490,000. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on VLY shares. Truist Financial initiated coverage on shares of Valley National Bancorp in a research note on Tuesday, May 13th. They issued a "hold" rating and a $10.00 target price on the stock. Jefferies Financial Group began coverage on Valley National Bancorp in a research report on Wednesday, May 21st. They set a "hold" rating and a $10.00 target price on the stock. Barclays reaffirmed an "underweight" rating on shares of Valley National Bancorp in a research report on Tuesday, July 8th. Morgan Stanley raised Valley National Bancorp from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $10.00 to $11.00 in a report on Thursday, July 3rd. Finally, Wall Street Zen lowered Valley National Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Valley National Bancorp currently has an average rating of "Hold" and a consensus target price of $10.73.

Valley National Bancorp Trading Up 0.5%

Shares of NASDAQ:VLY opened at $9.51 on Monday. The stock has a market capitalization of $5.33 billion, a PE ratio of 13.78 and a beta of 1.06. Valley National Bancorp has a 1 year low of $7.18 and a 1 year high of $11.10. The firm has a fifty day moving average price of $9.03 and a 200 day moving average price of $9.10. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.01). The business had revenue of $479.67 million for the quarter, compared to the consensus estimate of $483.98 million. Valley National Bancorp had a return on equity of 5.12% and a net margin of 11.03%. During the same quarter in the prior year, the business earned $0.19 EPS. Analysts expect that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a dividend of $0.11 per share. The ex-dividend date was Friday, June 13th. This represents a $0.44 annualized dividend and a yield of 4.63%. Valley National Bancorp's dividend payout ratio (DPR) is presently 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.

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