First Eagle Investment Management LLC Has $8.84 Million Stock Position in Valley National Bancorp (NASDAQ:VLY)

First Eagle Investment Management LLC raised its position in Valley National Bancorp (NASDAQ:VLY - Free Report) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 976,000 shares of the company's stock after purchasing an additional 92,500 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.19% of Valley National Bancorp worth $8,843,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VLY. R Squared Ltd acquired a new stake in shares of Valley National Bancorp in the fourth quarter worth about $25,000. Sapient Capital LLC acquired a new stake in shares of Valley National Bancorp in the fourth quarter worth about $103,000. Empowered Funds LLC lifted its position in shares of Valley National Bancorp by 12.0% in the fourth quarter. Empowered Funds LLC now owns 12,812 shares of the company's stock worth $116,000 after buying an additional 1,371 shares during the last quarter. Townsquare Capital LLC lifted its position in shares of Valley National Bancorp by 11.8% in the third quarter. Townsquare Capital LLC now owns 14,365 shares of the company's stock worth $130,000 after buying an additional 1,521 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Valley National Bancorp by 26.7% in the third quarter. KBC Group NV now owns 14,450 shares of the company's stock worth $131,000 after buying an additional 3,041 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company's stock.

Valley National Bancorp Price Performance

NASDAQ VLY traded up $0.05 during trading hours on Wednesday, reaching $8.93. 6,308,794 shares of the company's stock were exchanged, compared to its average volume of 6,350,957. The stock has a market cap of $5.00 billion, a PE ratio of 12.94 and a beta of 1.11. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.10. The firm has a fifty day moving average of $9.59 and a 200-day moving average of $9.48. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46.

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Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.13 EPS 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 in the prior year, the business earned $0.22 earnings per share. On average, equities research analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 4.93%. Valley National Bancorp's payout ratio is 63.77%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on VLY shares. Royal Bank of Canada boosted their price objective 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. Citigroup boosted their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. StockNews.com cut Valley National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. boosted 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, Barclays boosted their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $10.67.

Insider Buying and Selling at Valley National Bancorp

In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of the stock in a transaction 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 in the company, valued at approximately $5,056,492.29. This trade represents a 9.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.88% 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.