Bank of America Corp DE decreased its stake in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 28.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,024,070 shares of the company's stock after selling 791,108 shares during the quarter. Bank of America Corp DE owned about 0.40% of Valley National Bancorp worth $18,338,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in Valley National Bancorp during the fourth quarter worth approximately $25,000. Optiver Holding B.V. raised its position 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 period. CreativeOne Wealth LLC purchased a new stake in Valley National Bancorp in the fourth quarter valued at $102,000. Sapient Capital LLC purchased a new stake in Valley National Bancorp in the fourth quarter valued at $103,000. Finally, Meiji Yasuda Asset Management Co Ltd. raised its position in Valley National Bancorp by 9.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company's stock valued at $104,000 after purchasing an additional 1,002 shares during the period. Hedge funds and other institutional investors own 61.00% of the company's stock.
Valley National Bancorp Stock Up 0.1%
NASDAQ VLY traded up $0.01 during trading hours on Friday, hitting $8.70. 8,485,060 shares of the company were exchanged, compared to its average volume of 7,441,935. The company has a 50 day moving average of $8.65 and a two-hundred day moving average of $9.37. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.10. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 12.61 and a beta of 1.05.
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 for the quarter, missing the consensus estimate of $0.19 by ($0.01). Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. The company had revenue of $479.67 million for the quarter, compared to analysts' expectations of $483.98 million. During the same quarter last year, the company earned $0.19 EPS. Equities research analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current year.
Valley National Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.44 annualized dividend and a yield of 5.06%. Valley National Bancorp's dividend payout ratio (DPR) is 63.77%.
Analysts Set New Price Targets
A number of equities research analysts have commented on VLY shares. Royal Bank of Canada lifted their target price on Valley National Bancorp from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. Jefferies Financial Group started coverage on Valley National Bancorp in a research report on Wednesday. They issued a "hold" rating and a $10.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Valley National Bancorp from $10.50 to $11.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. 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 report on Monday, March 24th. Finally, Citigroup boosted their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $10.55.
View Our Latest Analysis on Valley National Bancorp
Valley National Bancorp Profile
(
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.
Further Reading
Before you consider Valley National Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Valley National Bancorp wasn't on the list.
While Valley National Bancorp currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
