Point72 Europe London LLP Acquires New Shares in Valley National Bancorp (NASDAQ:VLY)

Point72 Europe London LLP bought a new position in Valley National Bancorp (NASDAQ:VLY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 514,404 shares of the company's stock, valued at approximately $4,660,000. Point72 Europe London LLP owned approximately 0.10% of Valley National Bancorp as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Valley National Bancorp by 9.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company's stock worth $104,000 after buying an additional 1,002 shares during the period. Rockefeller Capital Management L.P. grew its holdings in Valley National Bancorp by 2.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 44,848 shares of the company's stock worth $406,000 after acquiring an additional 1,024 shares during the period. United Services Automobile Association grew its holdings in Valley National Bancorp by 3.7% during the 4th quarter. United Services Automobile Association now owns 28,702 shares of the company's stock worth $260,000 after acquiring an additional 1,029 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Valley National Bancorp by 2.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 48,118 shares of the company's stock worth $436,000 after acquiring an additional 1,046 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of Valley National Bancorp by 12.0% in the 4th 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 during the period. 61.00% of the stock is owned by institutional investors and hedge funds.

Valley National Bancorp Stock Down 0.3%

Shares of NASDAQ:VLY opened at $9.17 on Thursday. The company has a market capitalization of $5.14 billion, a PE ratio of 13.29 and a beta of 1.05. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.10. 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 business has a fifty day moving average price of $8.62 and a two-hundred day moving average price of $9.40.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.18 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $483.98 million. During the same period in the prior year, the firm posted $0.19 EPS. Analysts forecast that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date was Friday, March 14th. Valley National Bancorp's dividend payout ratio is currently 63.77%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on VLY. Truist Financial started coverage on Valley National Bancorp in a report on Tuesday. They issued a "hold" rating and a $10.00 target price for the company. Barclays lowered their price objective on shares of 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. StockNews.com raised shares of Valley National Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, April 26th. Royal Bank of Canada upped their price objective on shares of Valley National Bancorp from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Finally, Citigroup boosted their target price on Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $10.60.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.