MetLife Investment Management LLC Has $4.88 Million Stake in Valley National Bancorp (NASDAQ:VLY)

MetLife Investment Management LLC lifted its holdings in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 18.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 538,071 shares of the company's stock after acquiring an additional 82,976 shares during the quarter. MetLife Investment Management LLC owned approximately 0.11% of Valley National Bancorp worth $4,875,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Valley National Bancorp during the fourth quarter worth approximately $25,000. Sapient Capital LLC bought a new stake in Valley National Bancorp in the 4th quarter valued at $103,000. CreativeOne Wealth LLC bought a new stake in Valley National Bancorp in the 4th quarter valued at $102,000. Financial Engines Advisors L.L.C. acquired a new position in Valley National Bancorp in the 4th quarter valued at $104,000. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position 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 valued at $104,000 after acquiring an additional 1,002 shares during the period. 61.00% of the stock is owned by institutional investors and hedge funds.

Valley National Bancorp Price Performance

NASDAQ:VLY traded down $0.07 on Wednesday, hitting $8.60. The company had a trading volume of 7,052,653 shares, compared to its average volume of 7,120,623. The firm has a 50 day moving average of $8.72 and a two-hundred day moving average of $9.42. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 12.46 and a beta of 1.06. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46.

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 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 firm had revenue of $479.67 million for the quarter, compared to analyst estimates of $483.98 million. During the same period last year, the business earned $0.19 EPS. On average, research analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 5.12%. The ex-dividend date of this dividend was Friday, March 14th. Valley National Bancorp's dividend payout ratio (DPR) is currently 63.77%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on VLY shares. Citigroup lifted their price objective 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. Royal Bank of Canada increased 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. 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 report on Monday, March 24th. Stephens restated an "overweight" rating and issued a $12.50 price target on shares of Valley National Bancorp in a research report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Valley National Bancorp from $10.50 to $11.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus 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.