Tower Research Capital LLC TRC Has $764,000 Holdings in Valley National Bancorp (NASDAQ:VLY)

Tower Research Capital LLC TRC lifted its holdings in Valley National Bancorp (NASDAQ:VLY - Free Report) by 241.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 84,374 shares of the company's stock after buying an additional 59,641 shares during the quarter. Tower Research Capital LLC TRC's holdings in Valley National Bancorp were worth $764,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. R Squared Ltd bought a new stake in Valley National Bancorp in the fourth quarter worth about $25,000. CreativeOne Wealth LLC purchased a new position in Valley National Bancorp in the 4th quarter worth about $102,000. Sapient Capital LLC acquired a new stake in Valley National Bancorp during the 4th quarter worth about $103,000. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Valley National Bancorp by 9.5% during the 4th 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. Finally, Financial Engines Advisors L.L.C. purchased a new stake in Valley National Bancorp during the fourth quarter valued at about $104,000. Institutional investors own 61.00% of the company's stock.

Valley National Bancorp Stock Up 1.2 %

NASDAQ VLY traded up $0.11 during trading on Friday, hitting $8.82. 3,256,543 shares of the company traded hands, compared to its average volume of 9,142,949. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.10. The business has a fifty day simple moving average of $8.71 and a 200 day simple moving average of $9.42. The company has a market capitalization of $4.94 billion, a P/E ratio of 12.78 and a beta of 1.06. 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 announced its earnings results on Thursday, April 24th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $479.67 million during the quarter, compared to the consensus estimate 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 last year, the business earned $0.19 EPS. As a group, sell-side analysts predict that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.11 per share. The ex-dividend date was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 4.99%. Valley National Bancorp's dividend payout ratio is currently 63.77%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on VLY. Barclays reduced their price target on shares of Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada raised their target price 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. Citigroup upped their price target 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. StockNews.com raised Valley National Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, April 26th. Finally, JPMorgan Chase & Co. increased their price target on shares of Valley National Bancorp from $10.50 to $11.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $10.67.

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.