Voloridge Investment Management LLC increased its holdings in Valley National Bancorp (NASDAQ:VLY - Free Report) by 10.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,300,292 shares of the company's stock after purchasing an additional 322,446 shares during the quarter. Voloridge Investment Management LLC owned 0.65% of Valley National Bancorp worth $29,901,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. R Squared Ltd acquired a new stake in shares of Valley National Bancorp in the fourth quarter valued at about $25,000. Point72 Hong Kong Ltd purchased a new position in Valley National Bancorp in the 4th quarter valued at about $39,000. Optiver Holding B.V. lifted its stake 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 valued at $46,000 after buying an additional 2,271 shares in the last quarter. Sapient Capital LLC acquired a new stake in Valley National Bancorp in the 4th quarter worth about $103,000. Finally, CreativeOne Wealth LLC purchased a new stake in Valley National Bancorp during the 4th quarter worth approximately $102,000. Hedge funds and other institutional investors own 61.00% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on VLY shares. Citigroup raised their target price on Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Wall Street Zen downgraded Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. 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. Truist Financial started coverage on shares of Valley National Bancorp in a report on Tuesday, May 13th. They set a "hold" rating and a $10.00 target price for the company. Finally, Barclays reduced their target price on shares of Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Valley National Bancorp currently has a consensus rating of "Hold" and a consensus price target of $10.55.
Get Our Latest Stock Report on VLY
Valley National Bancorp Trading Up 1.4%
Shares of NASDAQ VLY traded up $0.13 during trading on Tuesday, hitting $8.83. 2,061,890 shares of the company were exchanged, compared to its average volume of 7,440,247. The company has a fifty day moving average price of $8.65 and a 200-day moving average price of $9.35. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $4.94 billion, a PE ratio of 12.78 and a beta of 1.05. Valley National Bancorp has a 12-month low of $6.47 and a 12-month high of $11.10.
Valley National Bancorp (NASDAQ:VLY - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $0.18 earnings per share (EPS) 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 firm had revenue of $479.67 million for the quarter, compared to analyst estimates of $483.98 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. As a group, equities research analysts expect 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. Stockholders of record on Friday, June 13th will be issued a dividend of $0.11 per share. 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 dividend payout ratio is currently 63.77%.
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.
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