Tidal Investments LLC Grows Position in Valley National Bancorp (NASDAQ:VLY)

Tidal Investments LLC boosted its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 31.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,157 shares of the company’s stock after purchasing an additional 5,329 shares during the period. Tidal Investments LLC’s holdings in Valley National Bancorp were worth $201,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC raised its holdings in Valley National Bancorp by 22.4% during the fourth quarter. SG Americas Securities LLC now owns 56,228 shares of the company’s stock valued at $509,000 after acquiring an additional 10,300 shares during the period. KBC Group NV lifted its holdings in Valley National Bancorp by 24.8% in the 4th quarter. KBC Group NV now owns 18,035 shares of the company’s stock worth $163,000 after purchasing an additional 3,585 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Valley National Bancorp by 8.8% in the 4th quarter. Pacer Advisors Inc. now owns 67,976 shares of the company’s stock worth $616,000 after purchasing an additional 5,503 shares in the last quarter. R Squared Ltd purchased a new position in Valley National Bancorp in the 4th quarter worth approximately $25,000. Finally, Retirement Systems of Alabama lifted its holdings in Valley National Bancorp by 11.1% in the 4th quarter. Retirement Systems of Alabama now owns 577,295 shares of the company’s stock worth $5,230,000 after purchasing an additional 57,684 shares in the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VLY has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on Valley National Bancorp in a report on Wednesday, May 21st. They issued a “hold” rating and a $10.00 price target on the stock. Piper Sandler raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 price target on the stock in a report on Monday, March 24th. Wall Street Zen cut Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, May 17th. Truist Financial assumed coverage on Valley National Bancorp in a report on Tuesday, May 13th. They issued a “hold” rating and a $10.00 price target on the stock. Finally, Barclays reduced their target price on 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.55.

Valley National Bancorp Stock Down 0.2%

Valley National Bancorp stock opened at $8.82 on Friday. The business has a fifty day moving average of $8.64 and a two-hundred day moving average of $9.32. The firm has a market cap of $4.94 billion, a P/E ratio of 12.78 and a beta of 1.05. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, April 24th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $479.67 million during the quarter, compared to analyst estimates of $483.98 million. Valley National Bancorp had a net margin of 10.62% and a return on equity of 5.14%. During the same period in the previous year, the company earned $0.19 earnings per share. On average, analysts forecast that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date is Friday, June 13th. Valley National Bancorp’s dividend payout ratio is presently 63.77%.

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.