By otakuyassine3@gmail.com 
Charles Schwab Investment Management Inc. increased its holdings in Valley National Bancorp (NASDAQ:VLY – Free Report) by 9.2% in the 4th quarter, Holdings Channel reports. The fund owned 7,612,156 shares of the company’s stock after buying an additional 640,933 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Valley National Bancorp were worth $68,966,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of VLY. Atria Investments Inc increased its stake in shares of Valley National Bancorp by 36.7% in the 3rd quarter. Atria Investments Inc now owns 40,198 shares of the company’s stock worth $364,000 after acquiring an additional 10,785 shares in the last quarter. Aigen Investment Management LP increased its stake in shares of Valley National Bancorp by 41.8% in the 3rd quarter. Aigen Investment Management LP now owns 43,972 shares of the company’s stock worth $398,000 after acquiring an additional 12,968 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Valley National Bancorp by 1,501.7% in the 3rd quarter. Victory Capital Management Inc. now owns 5,676,685 shares of the company’s stock worth $51,431,000 after acquiring an additional 5,322,278 shares in the last quarter. KBC Group NV increased its stake in shares of Valley National Bancorp by 26.7% in the 3rd quarter. KBC Group NV now owns 14,450 shares of the company’s stock worth $131,000 after acquiring an additional 3,041 shares in the last quarter. Finally, LMR Partners LLP bought a new position in shares of Valley National Bancorp in the 3rd quarter worth about $1,448,000. 61.00% of the stock is currently owned by institutional investors.
Valley National Bancorp Stock Performance
Shares of NASDAQ VLY opened at $8.58 on Wednesday. The firm’s 50-day moving average price is $9.62 and its 200-day moving average price is $9.48. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. The company has a market cap of $4.81 billion, a PE ratio of 12.43 and a beta of 1.11. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.10.
Valley National Bancorp (NASDAQ:VLY – Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. During the same quarter in the previous year, the company posted $0.22 earnings per share. As a group, analysts anticipate that Valley National Bancorp will post 0.99 EPS for the current year.
Valley National Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date is Friday, March 14th. Valley National Bancorp’s payout ratio is 63.77%.
Insider Buying and Selling
In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of Valley National Bancorp stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $10.21, for a total transaction of $510,500.00. Following the transaction, the executive vice president now owns 495,249 shares of the company’s stock, valued at $5,056,492.29. The trade was a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.88% of the stock is currently owned by insiders.
Analyst Ratings Changes
VLY has been the subject of a number of analyst reports. Barclays raised their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Stephens restated an “overweight” rating and set a $12.50 price objective on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Royal Bank of Canada raised their price objective on shares of Valley National Bancorp from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. raised their price objective on shares of Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Citigroup raised their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.67.
Read Our Latest Stock Report on VLY
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.
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