Marshall Wace LLP Increases Position in Valley National Bancorp (NASDAQ:VLY)

Marshall Wace LLP raised its stake in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 135.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 111,660 shares of the company's stock after acquiring an additional 64,260 shares during the period. Marshall Wace LLP's holdings in Valley National Bancorp were worth $1,012,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in VLY. R Squared Ltd bought a new stake in Valley National Bancorp during the fourth quarter valued at approximately $25,000. Sapient Capital LLC bought a new stake in shares of Valley National Bancorp during the 4th quarter valued at $103,000. CreativeOne Wealth LLC purchased a new stake in shares of Valley National Bancorp in the 4th quarter worth $102,000. Financial Engines Advisors L.L.C. bought a new position in shares of Valley National Bancorp in the fourth quarter worth about $104,000. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Valley National Bancorp by 9.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company's stock valued at $104,000 after buying an additional 1,002 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company's stock.

Valley National Bancorp Price Performance

Shares of VLY stock traded down $0.12 during trading hours on Tuesday, hitting $8.78. The stock had a trading volume of 8,479,201 shares, compared to its average volume of 7,154,900. 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 market capitalization of $4.92 billion, a price-to-earnings ratio of 12.72 and a beta of 1.05. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.10. The stock's 50-day moving average price is $8.66 and its two-hundred day moving average price is $9.41.

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 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 firm had revenue of $479.67 million during the quarter, compared to the consensus estimate of $483.98 million. During the same period in the previous year, the firm earned $0.19 EPS. Equities analysts forecast that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.11 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 5.01%. Valley National Bancorp's dividend payout ratio is presently 63.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on VLY shares. Citigroup increased their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. Barclays decreased their price objective on shares of Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. StockNews.com upgraded shares of Valley National Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, April 26th. Piper Sandler upgraded Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price target for the company in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Valley National Bancorp from $10.50 to $11.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $10.67.

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.