Tower Research Capital LLC TRC Buys 59,641 Shares of Valley National Bancorp (NASDAQ:VLY)

Tower Research Capital LLC TRC grew its stake in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 241.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,374 shares of the company's stock after acquiring an additional 59,641 shares during the quarter. Tower Research Capital LLC TRC's holdings in Valley National Bancorp were worth $764,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. MetLife Investment Management LLC increased its holdings in shares of Valley National Bancorp by 18.2% in the 4th quarter. MetLife Investment Management LLC now owns 538,071 shares of the company's stock worth $4,875,000 after purchasing an additional 82,976 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Valley National Bancorp by 10.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 28,663,209 shares of the company's stock worth $259,692,000 after buying an additional 2,810,005 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in Valley National Bancorp by 25.1% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 363,882 shares of the company's stock worth $3,289,000 after buying an additional 72,945 shares during the last quarter. Farringdon Capital Ltd. bought a new position in Valley National Bancorp during the 4th quarter valued at about $338,000. Finally, Marshall Wace LLP boosted its holdings in shares of Valley National Bancorp by 135.6% during the 4th quarter. Marshall Wace LLP now owns 111,660 shares of the company's stock valued at $1,012,000 after acquiring an additional 64,260 shares during the last quarter. Institutional investors own 61.00% of the company's stock.

Valley National Bancorp Trading Down 1.6 %

Valley National Bancorp stock opened at $8.59 on Friday. Valley National Bancorp has a 12-month low of $6.47 and a 12-month high of $11.10. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of 12.45 and a beta of 1.06. The firm has a 50 day moving average of $8.79 and a 200 day moving average of $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 (NASDAQ:VLY - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.01). The firm had revenue of $479.67 million during the quarter, compared to analysts' expectations of $483.98 million. Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. As a group, research analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date was Friday, March 14th. Valley National Bancorp's dividend payout ratio (DPR) is 63.77%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citigroup raised their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. StockNews.com raised Valley National Bancorp from a "sell" rating to a "hold" rating in a report on Saturday. Piper Sandler raised Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 target price on the stock in a report on Monday, March 24th. Barclays cut their price target on Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Valley National Bancorp from $10.50 to $11.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Valley National Bancorp presently has an average rating of "Hold" and an average target price of $10.67.

Insider Buying and Selling

In related news, EVP Joseph Chillura sold 50,000 shares of the firm's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $10.21, for a total transaction of $510,500.00. Following the completion of the transaction, the executive vice president now directly owns 495,249 shares of the company's stock, valued at approximately $5,056,492.29. This trade represents a 9.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.43% of the stock is currently owned by company insiders.

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.

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