Yousif Capital Management LLC Has $1.44 Million Position in Valley National Bancorp (NASDAQ:VLY)

Yousif Capital Management LLC reduced its holdings in Valley National Bancorp (NASDAQ:VLY) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 162,143 shares of the company’s stock after selling 3,037 shares during the period. Yousif Capital Management LLC’s holdings in Valley National Bancorp were worth $1,441,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Meiji Yasuda Asset Management Co Ltd. increased its stake in Valley National Bancorp by 9.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company’s stock valued at $104,000 after buying an additional 1,002 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Valley National Bancorp by 2.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 44,848 shares of the company’s stock worth $406,000 after purchasing an additional 1,024 shares during the last quarter. United Services Automobile Association increased its stake in shares of Valley National Bancorp by 3.7% during the 4th quarter. United Services Automobile Association now owns 28,702 shares of the company’s stock worth $260,000 after purchasing an additional 1,029 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Valley National Bancorp by 2.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 48,118 shares of the company’s stock worth $436,000 after purchasing an additional 1,046 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Valley National Bancorp by 12.0% during the 4th quarter. Empowered Funds LLC now owns 12,812 shares of the company’s stock worth $116,000 after purchasing an additional 1,371 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Valley National Bancorp Trading Up 1.2%

NASDAQ:VLY opened at $8.63 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $4.83 billion, a P/E ratio of 12.51 and a beta of 1.06. The firm’s fifty day moving average is $8.69 and its 200-day moving average is $9.18. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.10.

Valley National Bancorp (NASDAQ:VLY) last announced its earnings results on Thursday, April 24th. The company reported $0.18 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 analysts’ expectations 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 quarter in the prior year, the company earned $0.19 EPS. Equities analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.44 annualized dividend and a dividend yield of 5.10%. Valley National Bancorp’s dividend payout ratio is currently 63.77%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on VLY shares. Wall Street Zen lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, May 17th. Truist Financial initiated coverage on shares of Valley National Bancorp in a report on Tuesday, May 13th. They set a “hold” rating and a $10.00 target price for the company. Piper Sandler raised shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 target price on the stock in a report on Monday, March 24th. Jefferies Financial Group assumed coverage on shares of Valley National Bancorp in a report on Wednesday, May 21st. They set a “hold” rating and a $10.00 price target for the company. Finally, Barclays lowered their price objective on shares of Valley National Bancorp from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $10.55.

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.