American Century Companies Inc. Lowers Holdings in Valley National Bancorp (NASDAQ:VLY)

American Century Companies Inc. decreased its stake in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 9.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,998,464 shares of the company's stock after selling 694,692 shares during the quarter. American Century Companies Inc. owned approximately 1.37% of Valley National Bancorp worth $63,406,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in VLY. Geode Capital Management LLC lifted its holdings in shares of Valley National Bancorp by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 11,164,934 shares of the company's stock worth $101,170,000 after buying an additional 300,385 shares during the period. Wellington Management Group LLP raised its holdings in shares of Valley National Bancorp by 384.2% in the third quarter. Wellington Management Group LLP now owns 8,970,862 shares of the company's stock valued at $81,276,000 after acquiring an additional 7,118,044 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Valley National Bancorp by 9.2% in the fourth 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 period. Victory Capital Management Inc. grew its holdings 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 in the last quarter. Finally, Bank of New York Mellon Corp increased its position in 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 period. 61.00% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Valley National Bancorp

In other news, EVP Joseph Chillura sold 50,000 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total value of $510,500.00. Following the transaction, the executive vice president now directly owns 495,249 shares of the company's stock, valued at approximately $5,056,492.29. This represents a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.88% of the company's stock.

Valley National Bancorp Stock Down 2.2 %

VLY stock traded down $0.20 on Friday, hitting $8.78. 5,418,074 shares of the company's stock were exchanged, compared to its average volume of 6,612,370. The firm has a 50 day moving average price of $9.56 and a two-hundred day moving average price of $9.51. Valley National Bancorp has a 12-month low of $6.47 and a 12-month high of $11.10. The stock has a market cap of $4.92 billion, a P/E ratio of 12.72 and a beta of 1.11. 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 (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates 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 business posted $0.22 EPS. As a group, equities research analysts expect that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.11 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.01%. Valley National Bancorp's dividend payout ratio is currently 63.77%.

Analysts Set New Price Targets

VLY has been the subject of several research reports. Stephens reaffirmed an "overweight" rating and issued a $12.50 price target on shares of Valley National Bancorp in a research report on Thursday, January 2nd. Piper Sandler upgraded Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 target price for the company in a report on Monday, March 24th. Barclays increased their target price on Valley National Bancorp from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. Royal Bank of Canada boosted their price target on Valley National Bancorp from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. upped their price objective 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $10.78.

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.