Vanguard Group Inc. Has $441.36 Million Stock Position in Valley National Bancorp (NASDAQ:VLY)

Vanguard Group Inc. lowered its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 0.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,646,278 shares of the company’s stock after selling 355,883 shares during the period. Vanguard Group Inc. owned 8.86% of Valley National Bancorp worth $441,355,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in VLY. Farther Finance Advisors LLC boosted its stake in Valley National Bancorp by 206.6% in the first quarter. Farther Finance Advisors LLC now owns 4,298 shares of the company’s stock valued at $38,000 after buying an additional 2,896 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Valley National Bancorp in the fourth quarter valued at approximately $39,000. Brown Lisle Cummings Inc. purchased a new position in shares of Valley National Bancorp during the first quarter valued at approximately $39,000. Optiver Holding B.V. boosted its position in shares of Valley National Bancorp by 80.9% during the fourth quarter. Optiver Holding B.V. now owns 5,079 shares of the company’s stock valued at $46,000 after buying an additional 2,271 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in Valley National Bancorp by 219.6% in the first quarter. UMB Bank n.a. now owns 5,571 shares of the company’s stock worth $50,000 after purchasing an additional 3,828 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Trading Down 2.4%

Shares of NASDAQ VLY opened at $9.82 on Friday. The business’s 50 day moving average is $9.28 and its two-hundred day moving average is $9.11. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.97 and a quick ratio of 0.97. Valley National Bancorp has a 1-year low of $7.48 and a 1-year high of $11.10. The stock has a market capitalization of $5.50 billion, a P/E ratio of 12.59 and a beta of 1.09.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, July 24th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The firm had revenue of $495.01 million for the quarter, compared to analysts’ expectations of $495.79 million. Valley National Bancorp had a return on equity of 5.89% and a net margin of 12.87%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.13 earnings per share. As a group, research analysts expect that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, September 15th. This represents a $0.44 dividend on an annualized basis and a yield of 4.5%. Valley National Bancorp’s dividend payout ratio is currently 56.41%.

Analyst Ratings Changes

A number of research firms recently issued reports on VLY. Barclays reiterated an “underweight” rating on shares of Valley National Bancorp in a research note on Tuesday, July 8th. Truist Financial upgraded Valley National Bancorp from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Friday, July 25th. Jefferies Financial Group started coverage on Valley National Bancorp in a research report on Wednesday, May 21st. They set a “hold” rating and a $10.00 price objective for the company. Morgan Stanley raised Valley National Bancorp from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $10.00 to $11.00 in a report on Thursday, July 3rd. Finally, Royal Bank Of Canada lifted their target price on Valley National Bancorp from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Valley National Bancorp has an average rating of “Moderate Buy” and a consensus target price of $10.95.

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.