Price T Rowe Associates Inc. MD increased its position in Valley National Bancorp (NASDAQ:VLY - Free Report) by 18.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 291,418 shares of the company's stock after purchasing an additional 44,663 shares during the period. Price T Rowe Associates Inc. MD owned 0.06% of Valley National Bancorp worth $2,641,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. Pinebridge Investments L.P. grew its stake in shares of Valley National Bancorp by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 261,325 shares of the company's stock worth $2,368,000 after buying an additional 78,175 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of Valley National Bancorp in the fourth quarter worth $145,000. Tower Research Capital LLC TRC increased its holdings in shares of Valley National Bancorp by 241.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 84,374 shares of the company's stock valued at $764,000 after acquiring an additional 59,641 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Valley National Bancorp by 18.2% during the fourth quarter. MetLife Investment Management LLC now owns 538,071 shares of the company's stock valued at $4,875,000 after acquiring an additional 82,976 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Valley National Bancorp by 10.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 28,663,209 shares of the company's stock worth $259,692,000 after purchasing an additional 2,810,005 shares during the last quarter. Institutional investors own 61.00% of the company's stock.
Valley National Bancorp Stock Performance
Shares of NASDAQ:VLY traded up $0.41 during trading on Monday, hitting $9.22. The company's stock had a trading volume of 980,688 shares, compared to its average volume of 7,193,411. The company has a 50-day moving average of $8.62 and a 200-day moving average of $9.40. 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 firm has a market cap of $5.16 billion, a price-to-earnings ratio of 13.32 and a beta of 1.05. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.10.
Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $479.67 million for the quarter, compared to analysts' expectations of $483.98 million. Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. During the same quarter in the prior year, the business earned $0.19 EPS. On average, sell-side analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current year.
Valley National Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend was Friday, March 14th. Valley National Bancorp's payout ratio is 63.77%.
Wall Street Analyst Weigh In
A number of research firms have weighed in on VLY. JPMorgan Chase & Co. raised their price objective on shares of Valley National Bancorp from $10.50 to $11.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Citigroup upped their price objective 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. Barclays reduced their target price on Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Piper Sandler raised Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price target on the stock in a report on Monday, March 24th. Finally, StockNews.com raised Valley National Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, April 26th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $10.67.
Check Out Our Latest Stock Report on VLY
Valley National Bancorp Company Profile
(
Free Report)
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.
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