LSV Asset Management Has $22.38 Million Stock Position in Valley National Bancorp (NASDAQ:VLY)

LSV Asset Management grew its stake in Valley National Bancorp (NASDAQ:VLY - Free Report) by 98.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,060,631 shares of the company's stock after purchasing an additional 1,020,815 shares during the period. LSV Asset Management owned approximately 0.41% of Valley National Bancorp worth $22,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Valley National Bancorp by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 45,427,144 shares of the company's stock worth $388,856,000 after buying an additional 356,880 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Valley National Bancorp by 7.6% during the 3rd quarter. American Century Companies Inc. now owns 13,025,530 shares of the company's stock worth $111,499,000 after purchasing an additional 920,140 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Valley National Bancorp by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,034,997 shares of the company's stock valued at $51,660,000 after buying an additional 282,188 shares during the period. Victory Capital Management Inc. lifted its position in Valley National Bancorp by 3.3% in the fourth quarter. Victory Capital Management Inc. now owns 5,093,370 shares of the company's stock valued at $55,314,000 after buying an additional 161,121 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Valley National Bancorp by 107.4% during the third quarter. Wellington Management Group LLP now owns 4,443,543 shares of the company's stock worth $38,037,000 after buying an additional 2,301,128 shares during the period. Institutional investors and hedge funds own 61.00% of the company's stock.

Wall Street Analysts Forecast Growth

VLY has been the topic of a number of recent research reports. Barclays initiated coverage on shares of Valley National Bancorp in a research note on Friday, March 8th. They set an "underweight" rating and a $8.00 price target on the stock. TheStreet cut shares of Valley National Bancorp from a "b-" rating to a "c+" rating in a research report on Tuesday, February 27th. Royal Bank of Canada cut their price objective on Valley National Bancorp from $12.00 to $10.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 9th. Wedbush decreased their target price on Valley National Bancorp from $9.00 to $8.00 and set a "neutral" rating for the company in a report on Friday, April 26th. Finally, Keefe, Bruyette & Woods cut their price target on Valley National Bancorp from $13.00 to $12.00 and set an "outperform" rating on the stock in a report on Friday, January 26th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Valley National Bancorp has an average rating of "Hold" and an average price target of $9.33.

Insider Activity

In other Valley National Bancorp news, EVP Joseph Chillura sold 49,715 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $8.18, for a total transaction of $406,668.70. Following the completion of the sale, the executive vice president now directly owns 545,249 shares of the company's stock, valued at approximately $4,460,136.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.88% of the company's stock.

Valley National Bancorp Stock Performance

VLY traded down $0.04 on Tuesday, reaching $7.63. The company had a trading volume of 3,927,056 shares, compared to its average volume of 6,197,235. The stock has a 50-day moving average price of $7.70 and a 200-day moving average price of $8.78. The stock has a market capitalization of $3.88 billion, a PE ratio of 8.98 and a beta of 1.10. Valley National Bancorp has a 1 year low of $6.39 and a 1 year high of $11.22. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.51.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). The firm had revenue of $890.07 million during the quarter, compared to analysts' expectations of $447.38 million. Valley National Bancorp had a net margin of 12.88% and a return on equity of 7.74%. During the same quarter in the prior year, the firm posted $0.30 EPS. As a group, research analysts forecast that Valley National Bancorp will post 0.9 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 2nd. Shareholders of record on Thursday, March 14th were paid a $0.11 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.44 dividend on an annualized basis and a yield of 5.77%. Valley National Bancorp's dividend payout ratio is presently 51.76%.

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.