PL Capital Advisors LLC Acquires 806,000 Shares of Valley National Bancorp (NASDAQ:VLY)

PL Capital Advisors LLC raised its holdings in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 806.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 906,000 shares of the company's stock after acquiring an additional 806,000 shares during the quarter. Valley National Bancorp makes up 0.1% of PL Capital Advisors LLC's investment portfolio, making the stock its 26th largest holding. PL Capital Advisors LLC owned 0.18% of Valley National Bancorp worth $8,208,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in shares of Valley National Bancorp by 384.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,970,862 shares of the company's stock valued at $81,276,000 after buying an additional 7,118,044 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Valley National Bancorp by 1,501.7% in the 3rd quarter. Victory Capital Management Inc. now owns 5,676,685 shares of the company's stock worth $51,431,000 after purchasing an additional 5,322,278 shares during the last quarter. Basswood Capital Management L.L.C. acquired a new stake in Valley National Bancorp in the 3rd quarter worth approximately $19,399,000. Bank of New York Mellon Corp lifted its holdings in Valley National Bancorp by 27.8% in the 4th quarter. Bank of New York Mellon Corp now owns 6,101,280 shares of the company's stock worth $55,278,000 after purchasing an additional 1,327,829 shares during the last quarter. Finally, Verition Fund Management LLC lifted its holdings in Valley National Bancorp by 416.7% in the 3rd quarter. Verition Fund Management LLC now owns 852,884 shares of the company's stock worth $7,727,000 after purchasing an additional 687,813 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company's stock.

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Valley National Bancorp Stock Performance

Shares of VLY traded up $0.25 on Friday, reaching $9.84. 9,504,243 shares of the stock traded hands, compared to its average volume of 8,677,403. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 14.27 and a beta of 1.12. 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 12 month low of $6.47 and a 12 month high of $11.10. The stock's 50-day moving average price is $9.63 and its 200-day moving average price is $9.42.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.13 earnings per share (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 firm earned $0.22 EPS. Equities analysts forecast that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The business also recently declared 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. This represents a $0.44 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is Friday, March 14th. Valley National Bancorp's dividend payout ratio (DPR) is 63.77%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on VLY shares. Royal Bank of Canada upped their price target on Valley National Bancorp from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. Stephens reiterated an "overweight" rating and set a $12.50 price target on shares of Valley National Bancorp in a report on Thursday, January 2nd. Citigroup upped their price target on Valley National Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. Barclays upped their price target on Valley National Bancorp from $10.00 to $11.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. upped their price target on Valley National Bancorp from $10.50 to $11.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Valley National Bancorp presently has a consensus rating of "Hold" and an average 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 company's 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 sale, the executive vice president now directly owns 495,249 shares in the company, valued at $5,056,492.29. This represents a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company 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.