Versor Investments LP Makes New $895,000 Investment in Valley National Bancorp (NASDAQ:VLY)

Versor Investments LP acquired a new position in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 98,800 shares of the company's stock, valued at approximately $895,000.

Several other institutional investors and hedge funds also recently made changes to their positions in VLY. Wellington Management Group LLP raised its position in shares of Valley National Bancorp by 384.2% in 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 in the last quarter. Victory Capital Management Inc. raised its position in Valley National Bancorp by 1,501.7% during the third quarter. Victory Capital Management Inc. now owns 5,676,685 shares of the company's stock valued at $51,431,000 after purchasing an additional 5,322,278 shares in the last quarter. Basswood Capital Management L.L.C. bought a new stake in Valley National Bancorp during the third quarter worth $19,399,000. Bank of New York Mellon Corp boosted its holdings in shares of 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 purchasing an additional 1,327,829 shares in the last quarter. Finally, PL Capital Advisors LLC increased its stake in shares of Valley National Bancorp by 806.0% in the 4th quarter. PL Capital Advisors LLC now owns 906,000 shares of the company's stock valued at $8,208,000 after purchasing an additional 806,000 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.

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Valley National Bancorp Trading Down 2.4 %

Shares of VLY stock traded down $0.24 during trading hours on Monday, hitting $9.60. 10,303,182 shares of the company's stock traded hands, compared to its average volume of 8,670,208. The stock has a market cap of $4.89 billion, a PE ratio of 13.91 and a beta of 1.12. The stock's 50 day simple moving average is $9.63 and its 200 day simple moving average is $9.44. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.10.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share (EPS) 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 period in the prior year, the business earned $0.22 EPS. On average, sell-side analysts anticipate that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend is Friday, March 14th. Valley National Bancorp's dividend payout ratio is currently 63.77%.

Insider Activity at Valley National Bancorp

In related news, EVP Joseph Chillura sold 50,000 shares of Valley National Bancorp 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 owns 495,249 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 1.88% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on VLY. Stephens restated an "overweight" rating and set a $12.50 price objective on shares of Valley National Bancorp in a research report on Thursday, January 2nd. Royal Bank of Canada increased their target price on shares of Valley National Bancorp from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. JPMorgan Chase & Co. upped 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 report on Friday, January 24th. Citigroup raised their target price on shares of 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 downgraded shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Valley National Bancorp has a consensus rating of "Hold" and an average target price of $10.67.

Valley National Bancorp Company 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.