Victory Capital Management Inc. Has $56.28 Million Stock Holdings in Valley National Bancorp (NASDAQ:VLY)

Victory Capital Management Inc. increased its stake in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 9.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,211,531 shares of the company's stock after acquiring an additional 534,846 shares during the period. Victory Capital Management Inc. owned about 1.22% of Valley National Bancorp worth $56,276,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Valley National Bancorp by 9.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,612,156 shares of the company's stock valued at $68,966,000 after purchasing an additional 640,933 shares during the period. State of Michigan Retirement System increased its holdings in shares of Valley National Bancorp by 10.7% in the fourth quarter. State of Michigan Retirement System now owns 112,481 shares of the company's stock valued at $1,019,000 after purchasing an additional 10,900 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in Valley National Bancorp by 8.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 250,799 shares of the company's stock valued at $2,272,000 after acquiring an additional 19,622 shares during the period. Versor Investments LP acquired a new stake in Valley National Bancorp during the fourth quarter worth approximately $895,000. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Valley National Bancorp by 11.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 96,643 shares of the company's stock worth $876,000 after acquiring an additional 10,000 shares during the period. 61.00% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

VLY has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on Valley National Bancorp from $10.50 to $11.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Royal Bank of Canada boosted their target price on shares of Valley National Bancorp from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. Stephens reaffirmed an "overweight" rating and set a $12.50 price target on shares of Valley National Bancorp in a research report on Thursday, January 2nd. StockNews.com downgraded shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, November 19th. Finally, Barclays raised their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Valley National Bancorp has an average rating of "Hold" and an average price target of $10.67.

Valley National Bancorp Price Performance

NASDAQ VLY traded down $0.18 on Monday, hitting $8.81. 568,383 shares of the company's stock were exchanged, compared to its average volume of 8,501,731. The stock has a 50-day moving average of $9.63 and a 200-day moving average of $9.48. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 12.78 and a beta of 1.11. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.10. 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 released 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 net margin of 10.62% and a return on equity of 5.14%. During the same period last year, the business earned $0.22 earnings per share. Analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.11 per share. The ex-dividend date is Friday, March 14th. This represents a $0.44 annualized dividend and a dividend yield of 5.00%. Valley National Bancorp's dividend payout ratio (DPR) is presently 63.77%.

Insider Activity

In related news, EVP Joseph Chillura sold 50,000 shares of Valley National Bancorp stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.88% of the stock is owned by corporate 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.