Valley National Bancorp $VLY Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has decreased its stake in Valley National Bancorp to 8.86%, owning approximately $441.36 million worth of shares after selling 355,883 shares during the first quarter.
• Valley National Bancorp has announced a quarterly dividend of $0.11 per share, yielding 4.5% annually, to be paid on October 1st.
• The stock is currently trading at $9.82, with a 1-year low of $7.48 and a high of $11.10, while analysts maintain a consensus target price of $10.95.

Vanguard Group Inc. decreased its position in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,646,278 shares of the company's stock after selling 355,883 shares during the quarter. Vanguard Group Inc. owned approximately 8.86% of Valley National Bancorp worth $441,355,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its position in shares of Valley National Bancorp by 206.6% in the 1st quarter. Farther Finance Advisors LLC now owns 4,298 shares of the company's stock valued at $38,000 after buying an additional 2,896 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Valley National Bancorp in the 4th quarter valued at $39,000. Brown Lisle Cummings Inc. bought a new stake in shares of Valley National Bancorp in the 1st quarter valued at $39,000. Optiver Holding B.V. increased its position in shares of Valley National Bancorp by 80.9% in the 4th quarter. Optiver Holding B.V. now owns 5,079 shares of the company's stock valued at $46,000 after buying an additional 2,271 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of Valley National Bancorp by 219.6% in the 1st quarter. UMB Bank n.a. now owns 5,571 shares of the company's stock valued at $50,000 after buying an additional 3,828 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on VLY shares. Barclays reiterated an "underweight" rating on shares of Valley National Bancorp in a report on Tuesday, July 8th. Royal Bank Of Canada raised their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Truist Financial upgraded Valley National Bancorp from a "hold" rating to a "buy" rating and set a $11.00 price objective for the company in a report on Friday, July 25th. Jefferies Financial Group started coverage on Valley National Bancorp in a report on Wednesday, May 21st. They issued a "hold" rating and a $10.00 price objective for the company. Finally, Morgan Stanley upgraded Valley National Bancorp from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $10.00 to $11.00 in a report on Thursday, July 3rd. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Valley National Bancorp presently has an average rating of "Moderate Buy" and a consensus price target of $10.95.

Valley National Bancorp Stock Down 0.4%

Shares of NASDAQ:VLY traded down $0.0350 during trading on Tuesday, reaching $9.7750. The stock had a trading volume of 3,176,772 shares, compared to its average volume of 9,086,074. Valley National Bancorp has a one year low of $7.48 and a one year high of $11.10. The company has a market capitalization of $5.47 billion, a P/E ratio of 12.53 and a beta of 1.09. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The firm's 50-day simple moving average is $9.29 and its 200 day simple moving average is $9.09.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.22 by $0.01. Valley National Bancorp had a net margin of 12.87% and a return on equity of 5.89%. The business had revenue of $495.01 million during the quarter, compared to the consensus estimate of $495.79 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, research analysts expect that Valley National Bancorp will post 0.99 EPS 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. Stockholders of record on Monday, September 15th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Monday, September 15th. Valley National Bancorp's payout ratio is currently 56.41%.

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.