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

WBI Investments LLC grew its stake in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 62.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 117,911 shares of the company's stock after purchasing an additional 45,256 shares during the quarter. WBI Investments LLC's holdings in Valley National Bancorp were worth $1,068,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Valley National Bancorp by 9.2% during the 4th quarter. Vanguard Group Inc. now owns 50,002,161 shares of the company's stock worth $453,020,000 after purchasing an additional 4,204,651 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of 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 worth $259,692,000 after purchasing an additional 2,810,005 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Valley National Bancorp by 90.2% during the 4th quarter. Wellington Management Group LLP now owns 17,059,328 shares of the company's stock worth $154,558,000 after purchasing an additional 8,088,466 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Valley National Bancorp by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 11,821,134 shares of the company's stock worth $107,122,000 after purchasing an additional 656,200 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Valley National Bancorp during the 4th quarter worth approximately $74,558,000. Institutional investors and hedge funds own 61.00% of the company's stock.

Valley National Bancorp Price Performance

Shares of Valley National Bancorp stock traded up $0.01 during trading on Friday, reaching $8.70. 8,485,060 shares of the company's stock were exchanged, compared to its average volume of 7,441,935. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.98 and a current ratio of 0.98. Valley National Bancorp has a 1-year low of $6.47 and a 1-year high of $11.10. The company has a market cap of $4.87 billion, a P/E ratio of 12.61 and a beta of 1.05. The firm's 50-day moving average price is $8.65 and its 200 day moving average price is $9.37.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.18 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $479.67 million for the quarter, compared to analyst estimates of $483.98 million. During the same period last year, the firm posted $0.19 EPS. As a group, research analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The firm 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 of this dividend is Friday, June 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.06%. Valley National Bancorp's dividend payout ratio (DPR) is currently 63.77%.

Analysts Set New Price Targets

Several research analysts have recently commented on VLY shares. Barclays reduced their target price on Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Piper Sandler upgraded Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 target price for the company in a research note on Monday, March 24th. Truist Financial initiated coverage on Valley National Bancorp in a research note on Tuesday, May 13th. They set a "hold" rating and a $10.00 target price for the company. Wall Street Zen downgraded Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Finally, Royal Bank of Canada boosted their price target on Valley National Bancorp from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $10.55.

About Valley National Bancorp

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.