Wells Fargo & Company MN Grows Holdings in Valley National Bancorp (NASDAQ:VLY)

Wells Fargo & Company MN grew its position in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 28.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 320,847 shares of the company's stock after purchasing an additional 70,967 shares during the period. Wells Fargo & Company MN owned approximately 0.06% of Valley National Bancorp worth $2,907,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in VLY. Norges Bank purchased a new stake in Valley National Bancorp in the 4th quarter worth about $31,490,000. Xponance Inc. lifted its stake in shares of Valley National Bancorp by 13.7% during the 4th quarter. Xponance Inc. now owns 66,588 shares of the company's stock worth $603,000 after acquiring an additional 8,032 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in Valley National Bancorp by 17.0% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 35,600 shares of the company's stock valued at $323,000 after acquiring an additional 5,181 shares during the period. Bank of New York Mellon Corp grew its position 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 valued at $55,278,000 after acquiring an additional 1,327,829 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Valley National Bancorp by 41.7% in the third quarter. JPMorgan Chase & Co. now owns 1,494,390 shares of the company's stock worth $13,539,000 after purchasing an additional 439,831 shares during the period. 61.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Valley National Bancorp

In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total transaction of $510,500.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.43% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on VLY shares. StockNews.com raised shares of Valley National Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday. Piper Sandler upgraded 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, March 24th. Citigroup lifted their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Barclays cut their price objective on shares of Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Finally, Royal Bank of Canada lifted their price target 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. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $10.67.

Valley National Bancorp Price Performance

VLY traded down $0.02 during midday trading on Monday, hitting $8.58. 4,403,404 shares of the company traded hands, compared to its average volume of 7,105,696. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 12.43 and a beta of 1.06. The business has a 50 day simple moving average of $8.79 and a two-hundred day simple 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 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 posted its quarterly earnings results 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 company 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 quarter last year, the company earned $0.19 earnings per share. On average, equities analysts forecast that Valley National Bancorp will post 0.99 earnings per share 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. Shareholders of record on Friday, March 14th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 5.13%. Valley National Bancorp's dividend payout ratio (DPR) is presently 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.