WBI Investments LLC Has $1.07 Million Stake in Valley National Bancorp (NASDAQ:VLY)

WBI Investments LLC boosted its position in Valley National Bancorp (NASDAQ:VLY - Free Report) by 62.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 117,911 shares of the company's stock after buying an additional 45,256 shares during the quarter. WBI Investments LLC's holdings in Valley National Bancorp were worth $1,068,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. R Squared Ltd acquired a new position in shares of Valley National Bancorp during the 4th quarter worth approximately $25,000. Point72 Hong Kong Ltd bought a new position in shares of Valley National Bancorp in the fourth quarter valued at $39,000. Optiver Holding B.V. increased its holdings in Valley National Bancorp by 80.9% during the fourth quarter. Optiver Holding B.V. now owns 5,079 shares of the company's stock worth $46,000 after buying an additional 2,271 shares during the last quarter. Sapient Capital LLC bought a new stake in Valley National Bancorp during the fourth quarter worth $103,000. Finally, CreativeOne Wealth LLC acquired a new stake in Valley National Bancorp in the fourth quarter valued at $102,000. Institutional investors own 61.00% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on VLY. Royal Bank of Canada boosted their price target on Valley National Bancorp from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. Citigroup raised their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. JPMorgan Chase & Co. increased their price target on shares of Valley National Bancorp from $10.50 to $11.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Barclays lowered their target price on Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, Truist Financial started coverage on Valley National Bancorp in a report on Tuesday, May 13th. They issued a "hold" rating and a $10.00 price objective on the stock. 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. According to data from MarketBeat, Valley National Bancorp presently has a consensus rating of "Hold" and a consensus target price of $10.55.

Valley National Bancorp Price Performance

NASDAQ:VLY traded up $0.02 during mid-day trading on Friday, reaching $8.71. The stock had a trading volume of 7,508,044 shares, compared to its average volume of 7,423,283. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.10. The stock has a market capitalization of $4.88 billion, a PE ratio of 12.62 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a 50-day simple moving average of $8.66 and a two-hundred day simple moving average of $9.38.

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 (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). Valley National Bancorp had a net margin of 10.62% and a return on equity of 5.14%. The business had revenue of $479.67 million during the quarter, compared to the consensus estimate of $483.98 million. During the same quarter in the previous year, the business posted $0.19 EPS. On average, equities analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued 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 5.05%. Valley National Bancorp's dividend payout ratio (DPR) is currently 63.77%.

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.