49,978 Shares in Valley National Bancorp (NASDAQ:VLY) Acquired by AlphaQuest LLC

AlphaQuest LLC bought a new stake in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 49,978 shares of the company's stock, valued at approximately $453,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Valley National Bancorp by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,164,934 shares of the company's stock valued at $101,170,000 after buying an additional 300,385 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Valley National Bancorp by 384.2% during the third quarter. Wellington Management Group LLP now owns 8,970,862 shares of the company's stock worth $81,276,000 after acquiring an additional 7,118,044 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Valley National Bancorp by 9.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,612,156 shares of the company's stock worth $68,966,000 after acquiring an additional 640,933 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Valley National Bancorp by 9.4% in the 4th quarter. Victory Capital Management Inc. now owns 6,211,531 shares of the company's stock valued at $56,276,000 after purchasing an additional 534,846 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Valley National Bancorp by 27.8% during the 4th quarter. Bank of New York Mellon Corp now owns 6,101,280 shares of the company's stock valued at $55,278,000 after purchasing an additional 1,327,829 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company's stock.

Valley National Bancorp Stock Down 1.5 %

Shares of Valley National Bancorp stock opened at $8.56 on Friday. 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 12-month low of $6.47 and a 12-month high of $11.10. The company has a market cap of $4.80 billion, a P/E ratio of 12.41 and a beta of 1.11. The company's fifty day simple moving average is $9.60 and its two-hundred day simple moving average is $9.47.

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Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its quarterly earnings results 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 net margin of 10.62% and a return on equity of 5.14%. During the same quarter in the previous year, the firm posted $0.22 EPS. Research analysts anticipate that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date of this dividend is Friday, March 14th. Valley National Bancorp's payout ratio is presently 63.77%.

Wall Street Analyst Weigh In

Several research firms have weighed in on VLY. StockNews.com downgraded shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Tuesday, November 19th. Royal Bank of Canada increased their target price on Valley National Bancorp from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, January 24th. JPMorgan Chase & Co. lifted their price target on Valley National Bancorp from $10.50 to $11.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Citigroup boosted their price objective 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. Finally, Stephens restated an "overweight" rating and issued a $12.50 target price on shares of Valley National Bancorp in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $10.67.

Insider Activity at Valley National Bancorp

In related news, EVP Joseph Chillura sold 50,000 shares of the business's stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $10.21, for a total transaction of $510,500.00. Following the sale, the executive vice president now owns 495,249 shares of the company's stock, valued at $5,056,492.29. The trade was a 9.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.88% of the stock is currently owned by corporate insiders.

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.

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