Mariner LLC Purchases 64,374 Shares of Valley National Bancorp (NASDAQ:VLY)

Mariner LLC raised its position in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 73.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 152,399 shares of the company's stock after buying an additional 64,374 shares during the quarter. Mariner LLC's holdings in Valley National Bancorp were worth $1,381,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. R Squared Ltd acquired a new position in Valley National Bancorp during the 4th quarter valued at approximately $25,000. Sapient Capital LLC bought a new position in Valley National Bancorp in the 4th quarter worth approximately $103,000. Financial Engines Advisors L.L.C. bought a new stake in Valley National Bancorp during the 4th quarter valued at $104,000. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Valley National Bancorp by 9.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company's stock worth $104,000 after purchasing an additional 1,002 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Valley National Bancorp by 12.0% during the fourth quarter. Empowered Funds LLC now owns 12,812 shares of the company's stock valued at $116,000 after purchasing an additional 1,371 shares in the last quarter. Institutional investors own 61.00% of the company's stock.

Valley National Bancorp Price Performance

NASDAQ:VLY traded up $0.12 during mid-day trading on Thursday, reaching $8.72. 1,191,178 shares of the company were exchanged, compared to its average volume of 7,098,158. The company has a fifty day moving average of $8.72 and a 200 day moving average of $9.42. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. The stock has a market cap of $4.88 billion, a PE ratio of 12.67 and a beta of 1.06.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.18 earnings per share (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 company had revenue of $479.67 million for the quarter, compared to the consensus estimate of $483.98 million. During the same quarter last year, the business posted $0.19 EPS. On average, research analysts anticipate that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.11 per share. The ex-dividend date was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.04%. Valley National Bancorp's dividend payout ratio is 63.77%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. 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 note on Monday, January 27th. StockNews.com upgraded shares of Valley National Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, April 26th. Piper Sandler upgraded Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 target price on the stock in a report on Monday, March 24th. JPMorgan Chase & Co. lifted their price target on Valley National Bancorp from $10.50 to $11.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Finally, Royal Bank of Canada raised their target price on shares of Valley National Bancorp from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $10.67.

Valley National Bancorp 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.