Valley National Bancorp (NASDAQ:VLY) Shares Acquired by Fmr LLC

Fmr LLC increased its position in Valley National Bancorp (NASDAQ:VLY) by 105.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,146 shares of the company’s stock after purchasing an additional 16,529 shares during the quarter. Fmr LLC’s holdings in Valley National Bancorp were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in VLY. Brown Brothers Harriman & Co. purchased a new position in shares of Valley National Bancorp during the 3rd quarter valued at approximately $397,000. Cerity Partners LLC boosted its stake in Valley National Bancorp by 31.5% during the 3rd quarter. Cerity Partners LLC now owns 180,907 shares of the company’s stock valued at $1,639,000 after acquiring an additional 43,364 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Valley National Bancorp by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,971,223 shares of the company’s stock worth $63,159,000 after acquiring an additional 98,574 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Valley National Bancorp by 332.7% in the 3rd quarter. Intech Investment Management LLC now owns 163,478 shares of the company’s stock worth $1,481,000 after purchasing an additional 125,695 shares during the last quarter. Finally, Pathstone Holdings LLC raised its stake in shares of Valley National Bancorp by 44.7% in the 3rd quarter. Pathstone Holdings LLC now owns 231,591 shares of the company’s stock valued at $2,098,000 after purchasing an additional 71,553 shares in the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Valley National Bancorp Trading Up 1.7 %

Shares of NASDAQ:VLY opened at $9.16 on Friday. Valley National Bancorp has a fifty-two week low of $6.47 and a fifty-two week high of $11.18. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.50. The company has a market cap of $4.67 billion, a PE ratio of 14.77 and a beta of 1.09. The company’s 50-day moving average price is $9.94 and its 200 day moving average price is $8.61.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. The company had revenue of $921.22 million during the quarter, compared to analyst estimates of $467.87 million. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. During the same quarter in the previous year, the firm posted $0.26 EPS. Sell-side analysts anticipate that Valley National Bancorp will post 0.65 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 Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.80%. Valley National Bancorp’s dividend payout ratio (DPR) is 70.97%.

Wall Street Analysts Forecast Growth

VLY has been the subject of several research analyst reports. Barclays boosted their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Morgan Stanley boosted their price target on Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Piper Sandler raised their price objective on Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. StockNews.com lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Finally, Wedbush restated a “neutral” rating and issued a $10.00 price target on shares of Valley National Bancorp in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.00.

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.