CANADA LIFE ASSURANCE Co Boosts Position in Valley National Bancorp (NASDAQ:VLY)

CANADA LIFE ASSURANCE Co lifted its position in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 25.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 363,882 shares of the company's stock after acquiring an additional 72,945 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.07% of Valley National Bancorp worth $3,289,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Valley National Bancorp by 9.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company's stock worth $104,000 after acquiring an additional 1,002 shares during the period. Rockefeller Capital Management L.P. boosted its stake in Valley National Bancorp by 2.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 44,848 shares of the company's stock worth $406,000 after purchasing an additional 1,024 shares during the period. United Services Automobile Association boosted its stake in Valley National Bancorp by 3.7% in the 4th quarter. United Services Automobile Association now owns 28,702 shares of the company's stock worth $260,000 after purchasing an additional 1,029 shares during the period. PNC Financial Services Group Inc. boosted its stake in Valley National Bancorp by 2.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 48,118 shares of the company's stock worth $436,000 after purchasing an additional 1,046 shares during the period. Finally, Empowered Funds LLC boosted its stake in Valley National Bancorp by 12.0% in the 4th quarter. Empowered Funds LLC now owns 12,812 shares of the company's stock worth $116,000 after purchasing an additional 1,371 shares during the period. Institutional investors own 61.00% of the company's stock.

Valley National Bancorp Price Performance

Shares of NASDAQ VLY traded up $0.04 during trading hours on Tuesday, reaching $8.67. 6,826,247 shares of the stock traded hands, compared to its average volume of 7,114,513. The company has a market capitalization of $4.86 billion, a P/E ratio of 12.57 and a beta of 1.06. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.10. The company's 50-day simple moving average is $8.76 and its two-hundred day simple moving average is $9.44.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $483.98 million. Valley National Bancorp had a net margin of 10.62% and a return on equity of 5.14%. During the same period in the prior year, the business posted $0.19 earnings per share. Equities research analysts forecast that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders 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 yield of 5.07%. Valley National Bancorp's dividend payout ratio (DPR) is currently 63.77%.

Wall Street Analyst Weigh In

VLY has been the subject of several analyst reports. Citigroup raised their target price on Valley National Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Barclays cut their target price 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. StockNews.com upgraded Valley National Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday. Stephens restated an "overweight" rating and issued a $12.50 target price on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada raised 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. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $10.67.

Insiders Place Their Bets

In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of Valley National Bancorp stock in a transaction that occurred on 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 $5,056,492.29. The trade was a 9.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.43% of the company's stock.

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.