Invesco Ltd. lowered its stake in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 29.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,301,316 shares of the company's stock after selling 530,979 shares during the quarter. Invesco Ltd. owned about 0.26% of Valley National Bancorp worth $11,790,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. R Squared Ltd acquired a new stake in shares of Valley National Bancorp in the fourth quarter valued at approximately $25,000. Sapient Capital LLC purchased a new stake in shares of Valley National Bancorp during the fourth quarter worth $103,000. Meiji Yasuda Asset Management Co Ltd. grew its stake in 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 purchasing an additional 1,002 shares in the last quarter. Financial Engines Advisors L.L.C. purchased a new position in Valley National Bancorp in the fourth quarter worth approximately $104,000. Finally, Empowered Funds LLC increased its holdings in Valley National Bancorp by 12.0% in the fourth quarter. Empowered Funds LLC now owns 12,812 shares of the company's stock valued at $116,000 after buying an additional 1,371 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company's stock.
Valley National Bancorp Stock Up 1.2 %
VLY traded up $0.10 during trading on Thursday, reaching $8.73. 9,119,506 shares of the stock were exchanged, compared to its average volume of 7,132,277. The stock's 50 day moving average price is $8.85 and its two-hundred day moving average price is $9.43. The stock has a market cap of $4.89 billion, a P/E ratio of 12.65 and a beta of 1.06. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.98 and a current ratio of 0.98. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10.
Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. Equities analysts expect that Valley National Bancorp will post 0.99 EPS for the current year.
Valley National Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 5.04%. The ex-dividend date of this dividend was Friday, March 14th. Valley National Bancorp's payout ratio is presently 63.77%.
Analysts Set New Price Targets
Several research firms have recently weighed in on VLY. Royal Bank of Canada increased their price objective on Valley National Bancorp from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, January 24th. StockNews.com cut Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, April 12th. Citigroup boosted their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a research report 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 on the stock in a research note on Tuesday, April 8th. Finally, Piper Sandler upgraded Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price objective for the company in a report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $10.67.
Check Out Our Latest Stock Report on Valley National Bancorp
Insider Buying and Selling
In related news, EVP Joseph Chillura sold 50,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 495,249 shares of the company's stock, valued at $5,056,492.29. This trade represents a 9.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.43% of the stock is owned by corporate insiders.
Valley National Bancorp Company Profile
(
Free Report)
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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