Hsbc Holdings PLC Has $1.50 Million Stock Holdings in Valley National Bancorp (NASDAQ:VLY)

Hsbc Holdings PLC reduced its holdings in Valley National Bancorp (NASDAQ:VLY - Free Report) by 20.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,093 shares of the company's stock after selling 41,402 shares during the period. Hsbc Holdings PLC's holdings in Valley National Bancorp were worth $1,501,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its position in Valley National Bancorp by 90.2% in the 4th quarter. Wellington Management Group LLP now owns 17,059,328 shares of the company's stock worth $154,558,000 after purchasing an additional 8,088,466 shares during the last quarter. Vanguard Group Inc. raised its position in Valley National Bancorp by 9.2% during the fourth quarter. Vanguard Group Inc. now owns 50,002,161 shares of the company's stock valued at $453,020,000 after acquiring an additional 4,204,651 shares in the last quarter. Norges Bank acquired a new stake in Valley National Bancorp in the fourth quarter valued at approximately $31,490,000. Dimensional Fund Advisors LP grew its position in 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. Finally, Burkehill Global Management LP bought a new stake in Valley National Bancorp in the fourth quarter worth approximately $20,838,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Valley National Bancorp Trading Up 1.0 %

Shares of NASDAQ:VLY traded up $0.09 during trading on Thursday, hitting $8.77. 1,493,237 shares of the company's stock were exchanged, compared to its average volume of 7,146,083. The firm has a 50-day moving average price of $8.64 and a two-hundred day moving average price of $9.41. The firm has a market cap of $4.91 billion, a P/E ratio of 12.71 and a beta of 1.05. 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 has a 1-year low of $6.47 and a 1-year high of $11.10.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.01). The firm had revenue of $479.67 million for 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 period in the prior year, the business earned $0.19 earnings per share. Equities analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current 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 issued a $0.11 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.02%. Valley National Bancorp's dividend payout ratio (DPR) is 63.77%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VLY. Piper Sandler upgraded shares of Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price objective for the company in a report on Monday, March 24th. Barclays cut their price objective on Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada increased their price target on Valley National Bancorp from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, January 24th. StockNews.com upgraded shares of Valley National Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, April 26th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Valley National Bancorp from $10.50 to $11.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $10.67.

Valley National Bancorp Company 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.