Citigroup Inc. Has $10.28 Million Holdings in Valley National Bancorp $VLY

Key Points

• Citigroup Inc. reduced its stake in Valley National Bancorp by 3.1%, owning approximately 1.16 million shares valued at $10.28 million after selling 37,558 shares in the first quarter.
• Analysts hold a mixed outlook on Valley National Bancorp, with five ratings of 'hold' and six ratings of 'buy', resulting in an average rating of "Moderate Buy" and a consensus target price of $10.95.
• The company recently announced a quarterly dividend of $0.11 per share, reflecting a 4.5% dividend yield based on a dividend payout ratio of 56.41% for its investors.

Citigroup Inc. lessened its stake in Valley National Bancorp (NASDAQ:VLY - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,156,560 shares of the company's stock after selling 37,558 shares during the quarter. Citigroup Inc. owned approximately 0.21% of Valley National Bancorp worth $10,282,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Balyasny Asset Management L.P. acquired a new stake in Valley National Bancorp during the 4th quarter valued at $74,558,000. Wedge Capital Management L L P NC acquired a new stake in Valley National Bancorp during the 1st quarter valued at $32,286,000. Soros Fund Management LLC acquired a new stake in Valley National Bancorp during the 4th quarter valued at $27,180,000. Dimensional Fund Advisors LP lifted its holdings in Valley National Bancorp by 10.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 28,663,209 shares of the company's stock valued at $259,692,000 after purchasing an additional 2,810,005 shares during the last quarter. Finally, Ghisallo Capital Management LLC acquired a new stake in Valley National Bancorp during the 4th quarter valued at $11,325,000. Institutional investors and hedge funds own 61.00% of the company's stock.

Valley National Bancorp Price Performance

Shares of NASDAQ VLY traded down $0.0550 during mid-day trading on Wednesday, reaching $9.7050. The company had a trading volume of 2,597,261 shares, compared to its average volume of 9,064,378. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 0.97. Valley National Bancorp has a one year low of $7.48 and a one year high of $11.10. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of 12.44 and a beta of 1.09. The business's 50-day simple moving average is $9.31 and its 200 day simple moving average is $9.10.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.01. Valley National Bancorp had a return on equity of 5.89% and a net margin of 12.87%.The company had revenue of $495.01 million for the quarter, compared to analysts' expectations of $495.79 million. During the same quarter last year, the business earned $0.13 earnings per share. Valley National Bancorp's revenue was up 9.3% on a year-over-year basis. On average, research analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a $0.11 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.5%. Valley National Bancorp's dividend payout ratio (DPR) is presently 56.41%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Royal Bank Of Canada raised their price target on Valley National Bancorp from $10.00 to $11.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Wall Street Zen raised Valley National Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Barclays reaffirmed an "underweight" rating on shares of Valley National Bancorp in a report on Tuesday, July 8th. Jefferies Financial Group initiated coverage on Valley National Bancorp in a report on Wednesday, May 21st. They set a "hold" rating and a $10.00 price target for the company. Finally, Truist Financial upgraded Valley National Bancorp from a "hold" rating to a "buy" rating and set a $11.00 price objective on the stock in a research report on Friday, July 25th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Valley National Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $10.95.

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.