Valley National Bancorp (NASDAQ:VLY) Shares Bought by Corebridge Financial Inc.

Corebridge Financial Inc. increased its holdings in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 766,535 shares of the company's stock after buying an additional 33,125 shares during the quarter. Corebridge Financial Inc. owned about 0.15% of Valley National Bancorp worth $6,945,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in VLY. United Services Automobile Association lifted its holdings in shares of Valley National Bancorp by 3.7% during the 4th quarter. United Services Automobile Association now owns 28,702 shares of the company's stock worth $260,000 after acquiring an additional 1,029 shares during the period. Vanguard Group Inc. increased its position in Valley National Bancorp by 9.2% during the fourth quarter. Vanguard Group Inc. now owns 50,002,161 shares of the company's stock worth $453,020,000 after purchasing an additional 4,204,651 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Valley National Bancorp during the fourth quarter worth approximately $784,000. AXQ Capital LP acquired a new position in shares of Valley National Bancorp in the 4th quarter valued at $191,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Valley National Bancorp by 11.2% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 104,857 shares of the company's stock valued at $950,000 after buying an additional 10,567 shares during the period. 61.00% of the stock is owned by institutional investors and hedge funds.

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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 stock was 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.88% of the stock is currently owned by corporate insiders.

Valley National Bancorp Stock Up 0.5 %

VLY stock traded up $0.05 during trading on Wednesday, reaching $8.94. The stock had a trading volume of 2,556,378 shares, compared to its average volume of 6,618,733. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $9.53 and a 200 day moving average price of $9.53. The company has a market capitalization of $5.01 billion, a P/E ratio of 12.95 and a beta of 1.11. Valley National Bancorp has a 1-year low of $6.47 and a 1-year high of $11.10.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings data 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 net margin of 10.62% and a return on equity of 5.14%. During the same period last year, the business posted $0.22 EPS. On average, equities analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.11 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.92%. Valley National Bancorp's dividend payout ratio (DPR) is presently 63.77%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. 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. Barclays boosted their target price on Valley National Bancorp from $10.00 to $11.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Citigroup raised their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Royal Bank of Canada boosted their price objective on shares of Valley National Bancorp from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. Finally, Piper Sandler raised shares of Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 target price on the stock in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $10.78.

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.