Valley National Bancorp (NASDAQ:VLY) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its position in Valley National Bancorp (NASDAQ:VLY - Free Report) by 20.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 165,093 shares of the company's stock after selling 41,402 shares during the quarter. Hsbc Holdings PLC's holdings in Valley National Bancorp were worth $1,501,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in VLY. Tower Research Capital LLC TRC grew its holdings in shares of Valley National Bancorp by 241.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 84,374 shares of the company's stock valued at $764,000 after purchasing an additional 59,641 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Valley National Bancorp by 18.2% in the fourth quarter. MetLife Investment Management LLC now owns 538,071 shares of the company's stock worth $4,875,000 after acquiring an additional 82,976 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Valley National Bancorp by 10.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 28,663,209 shares of the company's stock worth $259,692,000 after acquiring an additional 2,810,005 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Valley National Bancorp by 25.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 363,882 shares of the company's stock worth $3,289,000 after acquiring an additional 72,945 shares during the period. Finally, Farringdon Capital Ltd. acquired a new stake in shares of Valley National Bancorp in the fourth quarter valued at $338,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

VLY has been the topic of a number of recent research reports. StockNews.com upgraded shares of Valley National Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, April 26th. Barclays decreased 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 report on Tuesday, April 8th. JPMorgan Chase & Co. raised their price target on Valley National Bancorp from $10.50 to $11.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Royal Bank of Canada lifted their price target on Valley National Bancorp from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. Finally, Citigroup increased their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $10.67.

Valley National Bancorp Stock Performance

NASDAQ:VLY traded down $0.04 during mid-day trading on Wednesday, reaching $8.75. 3,718,921 shares of the stock were exchanged, compared to its average volume of 7,142,378. The stock has a market capitalization of $4.90 billion, a P/E ratio of 12.67 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 50 day simple moving average of $8.66 and a 200-day simple moving average of $9.41. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.18 earnings per share (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 business had revenue of $479.67 million for the quarter, compared to analysts' expectations of $483.98 million. During the same period in the previous year, the business posted $0.19 earnings per share. Analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The business also recently disclosed 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. This represents a $0.44 annualized dividend and a yield of 5.03%. The ex-dividend date was Friday, March 14th. Valley National Bancorp's dividend payout ratio is presently 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.