Raymond James Financial Inc. Invests $2.26 Million in Valley National Bancorp (NASDAQ:VLY)

Raymond James Financial Inc. acquired a new stake in Valley National Bancorp (NASDAQ:VLY - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 249,521 shares of the company's stock, valued at approximately $2,261,000.

Other large investors also recently bought and sold shares of the company. Pine Valley Investments Ltd Liability Co purchased a new stake in shares of Valley National Bancorp in the 3rd quarter valued at $154,000. JPMorgan Chase & Co. increased its stake in Valley National Bancorp by 41.7% during the third quarter. JPMorgan Chase & Co. now owns 1,494,390 shares of the company's stock worth $13,539,000 after purchasing an additional 439,831 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in shares of Valley National Bancorp by 17.0% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 35,600 shares of the company's stock worth $323,000 after purchasing an additional 5,181 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Valley National Bancorp by 22.4% in the fourth quarter. SG Americas Securities LLC now owns 56,228 shares of the company's stock valued at $509,000 after purchasing an additional 10,300 shares during the period. Finally, KBC Group NV grew its holdings in shares of Valley National Bancorp by 24.8% in the fourth quarter. KBC Group NV now owns 18,035 shares of the company's stock valued at $163,000 after purchasing an additional 3,585 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.

Analyst Ratings Changes

VLY has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on Valley National Bancorp from $10.50 to $11.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Barclays cut their target price on 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. Citigroup raised their price target on Valley National Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Piper Sandler raised shares of Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 target price 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 report on Saturday, April 26th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Valley National Bancorp has a consensus rating of "Hold" and an average target price of $10.67.

Valley National Bancorp Price Performance

NASDAQ:VLY traded down $0.12 during trading hours on Tuesday, hitting $8.78. The company's stock had a trading volume of 8,479,201 shares, compared to its average volume of 7,154,900. The company has a market capitalization of $4.92 billion, a PE ratio of 12.72 and a beta of 1.05. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.10. The business's 50-day moving average is $8.66 and its two-hundred day moving average is $9.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.98 and a current ratio of 0.98.

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 net margin of 10.62% and a return on equity of 5.14%. The company had revenue of $479.67 million during the quarter, compared to analyst estimates of $483.98 million. During the same quarter last year, the business earned $0.19 EPS. As a group, research analysts anticipate that Valley National Bancorp will post 0.99 EPS for the current fiscal 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 paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 5.01%. The ex-dividend date was Friday, March 14th. Valley National Bancorp's dividend payout ratio (DPR) is 63.77%.

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.