Valley National Bancorp (NASDAQ:VLY) Shares Purchased by LSV Asset Management

LSV Asset Management boosted its position in Valley National Bancorp (NASDAQ:VLY) by 98.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,060,631 shares of the company’s stock after purchasing an additional 1,020,815 shares during the period. LSV Asset Management owned about 0.41% of Valley National Bancorp worth $22,378,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in VLY. Xponance Inc. lifted its position in shares of Valley National Bancorp by 2.1% during the 4th quarter. Xponance Inc. now owns 62,924 shares of the company’s stock valued at $683,000 after acquiring an additional 1,286 shares during the period. Retirement Systems of Alabama lifted its position in shares of Valley National Bancorp by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 534,111 shares of the company’s stock valued at $5,800,000 after acquiring an additional 1,686 shares during the period. Arizona State Retirement System lifted its position in shares of Valley National Bancorp by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 122,917 shares of the company’s stock valued at $1,052,000 after acquiring an additional 1,693 shares during the period. Resources Management Corp CT ADV raised its position in shares of Valley National Bancorp by 5.5% during the 3rd quarter. Resources Management Corp CT ADV now owns 36,200 shares of the company’s stock worth $310,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Strs Ohio raised its position in shares of Valley National Bancorp by 5.4% during the 4th quarter. Strs Ohio now owns 38,800 shares of the company’s stock worth $421,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Valley National Bancorp from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. TheStreet cut shares of Valley National Bancorp from a “b-” rating to a “c+” rating in a research note on Tuesday, February 27th. Citigroup lowered their target price on shares of Valley National Bancorp from $11.00 to $8.50 and set a “neutral” rating for the company in a research note on Wednesday, March 13th. Wedbush lowered their price objective on shares of Valley National Bancorp from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Finally, Barclays assumed coverage on shares of Valley National Bancorp in a research note on Friday, March 8th. They set an “underweight” rating and a $8.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $9.33.

Insider Transactions at Valley National Bancorp

In other news, EVP Joseph Chillura sold 49,715 shares of Valley National Bancorp stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $8.18, for a total value of $406,668.70. Following the transaction, the executive vice president now directly owns 545,249 shares of the company’s stock, valued at $4,460,136.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.88% of the stock is owned by insiders.

Valley National Bancorp Price Performance

Shares of NASDAQ:VLY opened at $7.67 on Tuesday. Valley National Bancorp has a 52 week low of $6.39 and a 52 week high of $11.22. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $3.90 billion, a P/E ratio of 9.02 and a beta of 1.10. The firm’s 50 day moving average is $7.71 and its two-hundred day moving average is $8.78.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, April 25th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). Valley National Bancorp had a return on equity of 7.74% and a net margin of 12.88%. The firm had revenue of $890.07 million for the quarter, compared to analyst estimates of $447.38 million. During the same period in the previous year, the firm earned $0.30 earnings per share. Analysts anticipate that Valley National Bancorp will post 0.9 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Thursday, March 14th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date was Wednesday, March 13th. Valley National Bancorp’s payout ratio is 51.76%.

Valley National Bancorp 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.