Nuveen Asset Management LLC Buys 68,740 Shares of Valley National Bancorp (NASDAQ:VLY)

Nuveen Asset Management LLC grew its stake in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,481,711 shares of the company's stock after buying an additional 68,740 shares during the quarter. Nuveen Asset Management LLC owned 0.29% of Valley National Bancorp worth $13,424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in VLY. R Squared Ltd bought a new position in shares of Valley National Bancorp during the 4th quarter valued at $25,000. Optiver Holding B.V. grew its holdings in Valley National Bancorp by 80.9% in the 4th quarter. Optiver Holding B.V. now owns 5,079 shares of the company's stock worth $46,000 after acquiring an additional 2,271 shares during the last quarter. Sapient Capital LLC purchased a new position in shares of Valley National Bancorp in the fourth quarter valued at about $103,000. CreativeOne Wealth LLC purchased a new position in shares of Valley National Bancorp in the fourth quarter valued at about $102,000. Finally, Financial Engines Advisors L.L.C. purchased a new position in shares of Valley National Bancorp in the fourth quarter valued at about $104,000. Hedge funds and other institutional investors own 61.00% of the company's stock.

Valley National Bancorp Stock Performance

NASDAQ VLY traded down $0.02 during trading hours on Friday, hitting $8.82. 12,346,758 shares of the company's stock traded hands, compared to its average volume of 7,496,615. The business's fifty day moving average price is $8.64 and its two-hundred day moving average price is $9.32. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $4.94 billion, a P/E ratio of 12.78 and a beta of 1.05. 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 analysts' consensus estimates of $0.19 by ($0.01). The firm 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 company earned $0.19 earnings per share. 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. Shareholders of record on Friday, June 13th will be given a $0.11 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.99%. Valley National Bancorp's payout ratio is currently 63.77%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a research report 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 target for the company in a research report on Monday, March 24th. Jefferies Financial Group began coverage on shares of Valley National Bancorp in a report on Wednesday, May 21st. They issued a "hold" rating and a $10.00 target price for the company. Truist Financial initiated coverage on shares of Valley National Bancorp in a report on Tuesday, May 13th. They issued a "hold" rating and a $10.00 target price for the company. Finally, Barclays decreased their price objective on shares of Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $10.55.

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.