Geode Capital Management LLC Has $107.12 Million Stock Holdings in Valley National Bancorp (NASDAQ:VLY)

Geode Capital Management LLC increased its stake in Valley National Bancorp (NASDAQ:VLY - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,821,134 shares of the company's stock after purchasing an additional 656,200 shares during the quarter. Geode Capital Management LLC owned approximately 2.32% of Valley National Bancorp worth $107,122,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Valley National Bancorp by 9.5% in the fourth 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 during the period. United Services Automobile Association increased its position in Valley National Bancorp by 3.7% in the 4th quarter. United Services Automobile Association now owns 28,702 shares of the company's stock worth $260,000 after buying an additional 1,029 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Valley National Bancorp by 2.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 48,118 shares of the company's stock worth $436,000 after buying an additional 1,046 shares during the last quarter. Empowered Funds LLC boosted its position 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 acquiring an additional 1,371 shares during the period. Finally, New York State Teachers Retirement System grew its stake in shares of Valley National Bancorp by 0.6% in the fourth quarter. New York State Teachers Retirement System now owns 283,222 shares of the company's stock worth $2,566,000 after acquiring an additional 1,683 shares during the last quarter. Institutional investors own 61.00% of the company's stock.

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Insiders Place Their Bets

In related news, EVP Joseph Chillura sold 50,000 shares of Valley National Bancorp 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 of the company's stock, valued at $5,056,492.29. The trade was a 9.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.88% of the company's stock.

Analyst Upgrades and Downgrades

VLY has been the subject of a number of research reports. Stephens reissued an "overweight" rating and issued a $12.50 price target on shares of Valley National Bancorp in a report on Thursday, January 2nd. Royal Bank of Canada lifted their target price on Valley National Bancorp from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. JPMorgan Chase & Co. raised their price objective on Valley National Bancorp from $10.50 to $11.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. 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. Finally, StockNews.com cut shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, five have given 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 target price of $10.67.

Valley National Bancorp Price Performance

Shares of VLY traded up $0.18 during trading hours on Tuesday, hitting $8.23. The stock had a trading volume of 1,399,284 shares, compared to its average volume of 7,012,357. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 11.95 and a beta of 1.06. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.98 and a quick ratio of 0.98. The company's fifty day moving average is $9.10 and its two-hundred day moving average is $9.47. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.10.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm earned $0.22 EPS. On average, analysts anticipate that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.11 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 annualized dividend and a yield of 5.34%. Valley National Bancorp's payout ratio is 63.77%.

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.