Valley National Bancorp (NASDAQ:VLY) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. lifted its position in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 70.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 379,919 shares of the company's stock after buying an additional 156,734 shares during the period. Federated Hermes Inc. owned 0.07% of Valley National Bancorp worth $3,442,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Ovata Capital Management Ltd acquired a new stake in shares of Valley National Bancorp in the fourth quarter worth approximately $5,436,000. Wells Fargo & Company MN raised its position in shares of Valley National Bancorp by 28.4% in the 4th quarter. Wells Fargo & Company MN now owns 320,847 shares of the company's stock worth $2,907,000 after buying an additional 70,967 shares during the period. Private Portfolio Partners LLC boosted its holdings in Valley National Bancorp by 15.7% in the fourth quarter. Private Portfolio Partners LLC now owns 14,459 shares of the company's stock valued at $131,000 after acquiring an additional 1,959 shares during the last quarter. Trexquant Investment LP grew its position in Valley National Bancorp by 17.5% during the fourth quarter. Trexquant Investment LP now owns 657,448 shares of the company's stock valued at $5,956,000 after acquiring an additional 97,921 shares during the period. Finally, Geode Capital Management LLC increased its stake in Valley National Bancorp by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 11,821,134 shares of the company's stock worth $107,122,000 after acquiring an additional 656,200 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.

Valley National Bancorp Stock Performance

VLY traded up $0.03 during trading on Friday, reaching $8.25. 6,777,023 shares of the company were exchanged, compared to its average volume of 7,080,304. The stock has a market cap of $4.62 billion, a P/E ratio of 11.96 and a beta of 1.06. The firm has a 50 day moving average of $8.98 and a 200 day moving average of $9.45. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.10. 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 (NASDAQ:VLY - Get Free Report) last announced its earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share 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 period in the prior year, the company posted $0.22 EPS. On average, sell-side analysts forecast that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 annualized dividend and a yield of 5.33%. Valley National Bancorp's payout ratio is 63.77%.

Insider Buying and Selling at Valley National Bancorp

In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of the company's stock in a transaction dated Wednesday, January 29th. The shares were 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 approximately $5,056,492.29. This represents a 9.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.88% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on VLY shares. StockNews.com lowered shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, April 12th. JPMorgan Chase & Co. boosted their price target 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. Piper Sandler upgraded shares of Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price objective on the stock in a research note on Monday, March 24th. Stephens reaffirmed an "overweight" rating and set a $12.50 price target on shares of Valley National Bancorp in a report on Thursday, January 2nd. Finally, Barclays dropped their target price on Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $10.67.

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.