Mariner LLC Boosts Stake in Valley National Bancorp (NASDAQ:VLY)

Mariner LLC raised its stake in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 73.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 152,399 shares of the company's stock after buying an additional 64,374 shares during the period. Mariner LLC's holdings in Valley National Bancorp were worth $1,381,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Investment Advisors Inc. increased its holdings in Valley National Bancorp by 10.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 145,192 shares of the company's stock valued at $1,315,000 after buying an additional 13,715 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Valley National Bancorp by 2.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 44,848 shares of the company's stock worth $406,000 after purchasing an additional 1,024 shares in the last quarter. Sterling Capital Management LLC raised its holdings in Valley National Bancorp by 912.6% in the 4th quarter. Sterling Capital Management LLC now owns 15,037 shares of the company's stock worth $136,000 after purchasing an additional 13,552 shares during the period. Raymond James Financial Inc. purchased a new position in Valley National Bancorp during the fourth quarter valued at $2,261,000. Finally, Martingale Asset Management L P lifted its position in Valley National Bancorp by 63.0% during the fourth quarter. Martingale Asset Management L P now owns 30,021 shares of the company's stock valued at $272,000 after purchasing an additional 11,604 shares in the last quarter. 61.00% of the stock is owned by institutional investors.

Valley National Bancorp Price Performance

Shares of NASDAQ:VLY traded up $0.04 during mid-day trading on Tuesday, reaching $8.67. The stock had a trading volume of 6,826,247 shares, compared to its average volume of 7,114,513. The company has a market cap of $4.86 billion, a P/E ratio of 12.57 and a beta of 1.06. The business's 50 day moving average price is $8.76 and its 200 day moving average price is $9.44. 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 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 posted its earnings results on Thursday, April 24th. The company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.01). The business had revenue of $479.67 million during the quarter, compared to analysts' expectations of $483.98 million. 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 $0.19 earnings per share. Research analysts expect that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 5.07%. The ex-dividend date was Friday, March 14th. Valley National Bancorp's dividend payout ratio is 63.77%.

Insider Activity at Valley National Bancorp

In other news, EVP Joseph Chillura sold 50,000 shares of Valley National Bancorp stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 495,249 shares in the company, valued at approximately $5,056,492.29. The trade was a 9.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.43% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. StockNews.com raised Valley National Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday. JPMorgan Chase & Co. lifted their price target on shares of Valley National Bancorp from $10.50 to $11.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Barclays dropped their price target on shares of Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Stephens restated an "overweight" rating and set a $12.50 target price on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Finally, Piper Sandler raised Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price target on the stock in a report on Monday, March 24th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target 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.