Quantbot Technologies LP Lowers Position in Valley National Bancorp (NASDAQ:VLY)

Quantbot Technologies LP cut its position in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 50.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 174,170 shares of the company's stock after selling 176,790 shares during the period. Quantbot Technologies LP's holdings in Valley National Bancorp were worth $1,578,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its position in Valley National Bancorp by 2.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 48,118 shares of the company's stock valued at $436,000 after buying an additional 1,046 shares during the period. Empowered Funds LLC boosted its holdings 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 valued at $116,000 after purchasing an additional 1,371 shares during the period. Townsquare Capital LLC grew its stake in 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 purchasing an additional 1,521 shares in the last quarter. New York State Teachers Retirement System increased its holdings in Valley National Bancorp by 0.6% during the 4th quarter. New York State Teachers Retirement System now owns 283,222 shares of the company's stock worth $2,566,000 after purchasing an additional 1,683 shares during the period. Finally, HighTower Advisors LLC raised its position in Valley National Bancorp by 6.0% during the 3rd quarter. HighTower Advisors LLC now owns 31,831 shares of the company's stock valued at $291,000 after purchasing an additional 1,806 shares in the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other news, EVP Joseph Chillura sold 50,000 shares of the firm's stock in a transaction dated 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 directly owns 495,249 shares in the company, valued at $5,056,492.29. This trade represents a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.88% of the company's stock.

Valley National Bancorp Stock Down 0.6 %

VLY stock traded down $0.05 on Thursday, hitting $8.98. 5,358,525 shares of the company's stock were exchanged, compared to its average volume of 6,430,155. The firm has a 50 day moving average price of $9.58 and a two-hundred day moving average price of $9.50. Valley National Bancorp has a 12-month low of $6.47 and a 12-month high of $11.10. The stock has a market cap of $5.03 billion, a P/E ratio of 13.01 and a beta of 1.11. 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 (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.02). Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. During the same period in the previous year, the business posted $0.22 EPS. As a group, equities research analysts expect that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

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 issued 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 dividend yield of 4.90%. Valley National Bancorp's dividend payout ratio is currently 63.77%.

Wall Street Analyst Weigh In

VLY has been the topic of several research reports. Barclays raised their price target on Valley National Bancorp from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. boosted 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. Citigroup increased their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Piper Sandler raised shares of Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price objective for the company in a research note on Monday. Finally, Stephens restated an "overweight" rating and set a $12.50 target price on shares of Valley National Bancorp in a report on Thursday, January 2nd. 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 $10.78.

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.