Valley National Bancorp (NASDAQ:VLY) Shares Sold by Stifel Financial Corp

Stifel Financial Corp lessened its holdings in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 42.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 125,947 shares of the company's stock after selling 91,365 shares during the period. Stifel Financial Corp's holdings in Valley National Bancorp were worth $1,141,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. R Squared Ltd acquired a new stake in Valley National Bancorp in the fourth quarter valued at $25,000. CreativeOne Wealth LLC acquired a new stake in Valley National Bancorp in the fourth quarter valued at $102,000. Sapient Capital LLC acquired a new stake in Valley National Bancorp in the fourth quarter valued at $103,000. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Valley National Bancorp by 9.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company's stock valued at $104,000 after purchasing an additional 1,002 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. acquired a new stake in Valley National Bancorp in the fourth quarter valued at $104,000. Institutional investors and hedge funds own 61.00% of the company's stock.

Valley National Bancorp Stock Up 4.4%

Shares of VLY stock traded up $0.39 during trading hours on Monday, reaching $9.20. The company had a trading volume of 10,121,970 shares, compared to its average volume of 7,228,406. 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 has a twelve month low of $6.47 and a twelve month high of $11.10. The company has a market capitalization of $5.15 billion, a P/E ratio of 13.33 and a beta of 1.05. The stock's fifty day simple moving average is $8.62 and its 200 day simple moving average is $9.40.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 posted $0.19 EPS. As a group, sell-side analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.78%. Valley National Bancorp's dividend payout ratio (DPR) is currently 63.77%.

Analysts Set New Price Targets

VLY has been the topic of a number of analyst reports. Royal Bank of Canada increased their price objective 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. Piper Sandler raised Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price objective on the stock in a research note on Monday, March 24th. StockNews.com raised Valley National Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, April 26th. JPMorgan Chase & Co. increased their price objective 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. 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 research note on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Valley National Bancorp currently has an average rating of "Hold" and a consensus price target 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.