Invesco Ltd. Has $11.79 Million Position in Valley National Bancorp (NASDAQ:VLY)

Invesco Ltd. decreased its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 29.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,301,316 shares of the company’s stock after selling 530,979 shares during the quarter. Invesco Ltd. owned approximately 0.26% of Valley National Bancorp worth $11,790,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VLY. Bank of Montreal Can boosted its holdings in shares of Valley National Bancorp by 24.0% during the 4th quarter. Bank of Montreal Can now owns 50,784 shares of the company’s stock worth $460,000 after buying an additional 9,835 shares during the period. Elizabeth Park Capital Advisors Ltd. boosted its holdings in shares of Valley National Bancorp by 10.8% during the fourth quarter. Elizabeth Park Capital Advisors Ltd. now owns 373,935 shares of the company’s stock worth $3,388,000 after acquiring an additional 36,500 shares during the period. Federated Hermes Inc. grew its position in shares of Valley National Bancorp by 70.2% in the fourth quarter. Federated Hermes Inc. now owns 379,919 shares of the company’s stock valued at $3,442,000 after purchasing an additional 156,734 shares during the last quarter. Ovata Capital Management Ltd bought a new position in shares of Valley National Bancorp during the fourth quarter worth approximately $5,436,000. Finally, Wells Fargo & Company MN boosted its stake in Valley National Bancorp by 28.4% in the 4th quarter. Wells Fargo & Company MN now owns 320,847 shares of the company’s stock valued at $2,907,000 after purchasing an additional 70,967 shares during the period. 61.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Valley National Bancorp

In other 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 transaction of $510,500.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.43% of the company’s stock.

Valley National Bancorp Stock Down 1.3 %

NASDAQ VLY opened at $8.14 on Tuesday. The business has a fifty day moving average price of $8.90 and a two-hundred day moving average price of $9.45. The stock has a market capitalization of $4.56 billion, a PE ratio of 11.80 and a beta of 1.06. Valley National Bancorp has a fifty-two week low of $6.47 and a fifty-two week high of $11.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.98 and a quick ratio of 0.98.

Valley National Bancorp (NASDAQ:VLY) last announced 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 period in the prior year, the company earned $0.22 EPS. Equities analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 5.41%. The ex-dividend date was Friday, March 14th. Valley National Bancorp’s payout ratio is 63.77%.

Analyst Ratings Changes

Several research firms have weighed in on VLY. Piper Sandler upgraded Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 price objective on the stock in a research report on Monday, March 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. JPMorgan Chase & Co. boosted their price objective on shares of Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 24th. StockNews.com cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, April 12th. Finally, Royal Bank of Canada increased 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $10.67.

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.