LSV Asset Management Sells 383,400 Shares of Valley National Bancorp (NASDAQ:VLY)

LSV Asset Management lowered its position in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 19.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,596,290 shares of the company's stock after selling 383,400 shares during the quarter. LSV Asset Management owned about 0.31% of Valley National Bancorp worth $14,462,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in VLY. Vanguard Group Inc. lifted its position in Valley National Bancorp by 9.2% in the 4th quarter. Vanguard Group Inc. now owns 50,002,161 shares of the company's stock valued at $453,020,000 after purchasing an additional 4,204,651 shares during the last quarter. Wellington Management Group LLP grew its holdings 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 buying an additional 8,088,466 shares in the last quarter. Geode Capital Management LLC increased its position in Valley National Bancorp by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 11,821,134 shares of the company's stock valued at $107,122,000 after acquiring an additional 656,200 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Valley National Bancorp by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,612,156 shares of the company's stock valued at $68,966,000 after acquiring an additional 640,933 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in Valley National Bancorp by 9.4% during the 4th quarter. Victory Capital Management Inc. now owns 6,211,531 shares of the company's stock worth $56,276,000 after acquiring an additional 534,846 shares during the period. Institutional investors and hedge funds own 61.00% of the company's stock.

Valley National Bancorp Trading Up 0.4 %

NASDAQ VLY traded up $0.03 on Friday, hitting $8.25. 6,777,023 shares of the stock were exchanged, compared to its average volume of 7,080,304. The company's 50-day moving average price is $8.98 and its two-hundred day moving average price is $9.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.98 and a quick ratio of 0.98. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.10. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 11.96 and a beta of 1.06.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. During the same period in the previous year, the company earned $0.22 earnings per share. Research 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. Stockholders of record on Friday, March 14th were issued 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 dividend yield of 5.33%. Valley National Bancorp's dividend payout ratio is currently 63.77%.

Insiders Place Their Bets

In other news, EVP Joseph Chillura sold 50,000 shares of the business's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $10.21, for a total value of $510,500.00. Following the completion of the sale, the executive vice president now directly owns 495,249 shares in the company, valued at approximately $5,056,492.29. The trade was a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Piper Sandler upgraded shares of Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price target on the stock in a research report on Monday, March 24th. Barclays decreased their price target on Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating for the company in a research note 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 company an "outperform" rating in a research note on Friday, January 24th. Citigroup boosted their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Finally, Stephens reiterated an "overweight" rating and issued a $12.50 target price on shares of Valley National Bancorp in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus 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.