Ameriprise Financial Inc. Grows Stock Holdings in Valley National Bancorp (NASDAQ:VLY)

Ameriprise Financial Inc. grew its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 2.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 684,453 shares of the company’s stock after buying an additional 18,372 shares during the period. Ameriprise Financial Inc. owned 0.13% of Valley National Bancorp worth $6,207,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in VLY. SG Americas Securities LLC grew its stake in shares of Valley National Bancorp by 22.4% during the 4th quarter. SG Americas Securities LLC now owns 56,228 shares of the company’s stock valued at $509,000 after buying an additional 10,300 shares during the period. KBC Group NV grew its stake in shares of Valley National Bancorp by 24.8% during the 4th quarter. KBC Group NV now owns 18,035 shares of the company’s stock valued at $163,000 after buying an additional 3,585 shares during the period. Pacer Advisors Inc. grew its stake in shares of Valley National Bancorp by 8.8% during the 4th quarter. Pacer Advisors Inc. now owns 67,976 shares of the company’s stock valued at $616,000 after buying an additional 5,503 shares during the period. R Squared Ltd purchased a new stake in shares of Valley National Bancorp during the 4th quarter valued at $25,000. Finally, Retirement Systems of Alabama grew its stake in shares of Valley National Bancorp by 11.1% during the 4th quarter. Retirement Systems of Alabama now owns 577,295 shares of the company’s stock valued at $5,230,000 after buying an additional 57,684 shares during the period. 61.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VLY has been the topic of several recent research reports. Royal Bank of Canada lifted their target price on shares of Valley National Bancorp from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, January 24th. JPMorgan Chase & Co. lifted their target price 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. Barclays reduced their target price on shares of Valley National Bancorp from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Jefferies Financial Group initiated coverage on shares of Valley National Bancorp in a report on Wednesday. They set a “hold” rating and a $10.00 target price on the stock. Finally, Wall Street Zen lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, May 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Valley National Bancorp currently has an average rating of “Hold” and an average target price of $10.55.

Valley National Bancorp Stock Performance

Shares of VLY stock opened at $8.70 on Friday. Valley National Bancorp has a 12 month low of $6.47 and a 12 month 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. The firm has a market capitalization of $4.87 billion, a P/E ratio of 12.61 and a beta of 1.05. The company’s fifty day moving average price is $8.65 and its two-hundred day moving average price is $9.37.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. The firm had revenue of $479.67 million during the quarter, compared to analyst estimates of $483.98 million. During the same quarter in the prior year, the firm earned $0.19 EPS. On average, research analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.06%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 63.77%.

About Valley National Bancorp

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.