Dimensional Fund Advisors LP Purchases 2,810,005 Shares of Valley National Bancorp (NASDAQ:VLY)

Dimensional Fund Advisors LP increased its position in Valley National Bancorp (NASDAQ:VLY - Free Report) by 10.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,663,209 shares of the company's stock after buying an additional 2,810,005 shares during the quarter. Dimensional Fund Advisors LP owned 5.63% of Valley National Bancorp worth $259,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in VLY. Vanguard Group Inc. raised its stake in shares of Valley National Bancorp by 9.2% during the fourth quarter. Vanguard Group Inc. now owns 50,002,161 shares of the company's stock valued at $453,020,000 after acquiring an additional 4,204,651 shares during the last quarter. Wellington Management Group LLP raised its position in Valley National Bancorp by 90.2% during the 4th quarter. Wellington Management Group LLP now owns 17,059,328 shares of the company's stock worth $154,558,000 after purchasing an additional 8,088,466 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Valley National Bancorp by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 11,821,134 shares of the company's stock worth $107,122,000 after buying an additional 656,200 shares during the period. Charles Schwab Investment Management Inc. grew its position 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 valued at $68,966,000 after buying an additional 640,933 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Valley National Bancorp by 9.4% in the fourth quarter. Victory Capital Management Inc. now owns 6,211,531 shares of the company's stock valued at $56,276,000 after buying an additional 534,846 shares during the period. Institutional investors own 61.00% of the company's stock.

Insider Buying and Selling at Valley National Bancorp

In other news, EVP Joseph Chillura sold 50,000 shares of Valley National Bancorp stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total transaction of $510,500.00. Following the sale, the executive vice president now directly owns 495,249 shares in the company, valued at $5,056,492.29. The trade was a 9.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.43% of the company's stock.

Analyst Ratings Changes

VLY has been the topic of several analyst reports. StockNews.com cut Valley National Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, April 12th. Royal Bank of Canada increased 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 report on Friday, January 24th. Citigroup upped their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. JPMorgan Chase & Co. lifted their price objective on Valley National Bancorp from $10.50 to $11.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Finally, Piper Sandler raised Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 target price for the company in a research note on Monday, March 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, the stock has an average rating of "Hold" and a consensus target price of $10.67.

Valley National Bancorp Trading Down 1.3 %

NASDAQ:VLY opened at $8.14 on Tuesday. The company has a market cap of $4.56 billion, a PE ratio of 11.80 and a beta of 1.06. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.98 and a quick ratio of 0.98. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.10. The firm has a 50-day moving average of $8.90 and a 200-day moving average of $9.45.

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 return on equity of 5.14% and a net margin of 10.62%. During the same period in the prior year, the company 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date of this dividend was Friday, March 14th. Valley National Bancorp's payout ratio is 63.77%.

About Valley National Bancorp

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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