Valley National Bancorp (NASDAQ:VLY) Holdings Raised by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC boosted its stake in Valley National Bancorp (NASDAQ:VLY) by 40.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 153,395 shares of the company’s stock after acquiring an additional 44,385 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Valley National Bancorp were worth $1,666,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP lifted its position in Valley National Bancorp by 198.1% in the 1st quarter. Quarry LP now owns 3,070 shares of the company’s stock worth $28,000 after buying an additional 2,040 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Valley National Bancorp by 46.3% during the 4th quarter. Advisors Asset Management Inc. now owns 5,152 shares of the company’s stock valued at $58,000 after purchasing an additional 1,631 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of Valley National Bancorp by 24.4% during the 1st quarter. Advisory Services Network LLC now owns 8,665 shares of the company’s stock valued at $80,000 after purchasing an additional 1,700 shares in the last quarter. Covestor Ltd raised its holdings in shares of Valley National Bancorp by 73.0% during the 1st quarter. Covestor Ltd now owns 6,213 shares of the company’s stock valued at $81,000 after purchasing an additional 2,622 shares in the last quarter. Finally, Stratos Wealth Partners LTD. bought a new position in shares of Valley National Bancorp during the 3rd quarter valued at $93,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Friday, February 16th. Morgan Stanley raised their price target on shares of Valley National Bancorp from $8.50 to $9.00 and gave the company an “underweight” rating in a report on Wednesday, February 7th. TheStreet lowered shares of Valley National Bancorp from a “b-” rating to a “c+” rating in a research note on Tuesday, February 27th. Barclays initiated coverage on shares of Valley National Bancorp in a research note on Friday, March 8th. They issued an “underweight” rating and a $8.00 target price on the stock. Finally, Royal Bank of Canada lowered their target price on shares of Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 9th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.67.

Valley National Bancorp Stock Performance

NASDAQ VLY opened at $7.38 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 7.77 and a beta of 1.09. The company’s fifty day moving average is $7.99 and its two-hundred day moving average is $8.87. Valley National Bancorp has a 52-week low of $6.39 and a 52-week high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings results on Thursday, January 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.03). The company had revenue of $449.97 million during the quarter, compared to analyst estimates of $467.49 million. Valley National Bancorp had a return on equity of 8.67% and a net margin of 14.82%. During the same quarter in the prior year, the business earned $0.35 earnings per share. Equities research analysts forecast that Valley National Bancorp will post 0.93 EPS for the current year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 14th were given a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.44 annualized dividend and a yield of 5.96%. Valley National Bancorp’s dividend payout ratio is 46.32%.

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.