Valley National Bancorp (NASDAQ:VLY) Shares Sold by Stifel Financial Corp
Stifel Financial Corp reduced its stake in Valley National Bancorp (NASDAQ:VLY) by 42% in Q4, now holding 125,947 shares after selling 91,365 shares. Other hedge funds, including Vanguard and Dimensional Fund Advisors, increased their stakes. Analysts have mixed ratings on VLY, with a consensus rating of "Hold" and an average price target of $10.67. The stock opened at $8.84, with a market cap of $4.95 billion. Valley National Bancorp reported Q1 EPS of $0.18, missing estimates, and had a net margin of 10.62%.
Stifel Financial Corp decreased its holdings in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 42.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 125,947 shares of the company's stock after selling 91,365 shares during the period. Stifel Financial Corp's holdings in Valley National Bancorp were worth $1,141,000 at the end of the most recent quarter.
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A number of other hedge funds also recently added to or reduced their stakes in VLY. Vanguard Group Inc. increased its holdings in Valley National Bancorp by 9.2% in the fourth quarter. Vanguard Group Inc. now owns 50,002,161 shares of the company's stock valued at $453,020,000 after buying an additional 4,204,651 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Valley National Bancorp by 10.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 28,663,209 shares of the company's stock worth $259,692,000 after buying an additional 2,810,005 shares during the last quarter. Wellington Management Group LLP grew its stake in Valley National Bancorp by 90.2% in the 4th quarter. Wellington Management Group LLP now owns 17,059,328 shares of the company's stock valued at $154,558,000 after acquiring an additional 8,088,466 shares during the last quarter. Geode Capital Management LLC raised its position in Valley National Bancorp by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 11,821,134 shares of the company's stock worth $107,122,000 after acquiring an additional 656,200 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Valley National Bancorp by 9.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,612,156 shares of the company's stock valued at $68,966,000 after buying an additional 640,933 shares in the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the company. Piper Sandler upgraded Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price target for the company in a report on Monday, March 24th. Barclays lowered their target price on shares of Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Citigroup lifted their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Royal Bank of Canada increased their target price on Valley National Bancorp from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of Valley National Bancorp from $10.50 to $11.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $10.67.
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View Our Latest Stock Analysis on VLY
Valley National Bancorp Stock Performance
VLY opened at $8.84 on Friday. The stock has a market cap of $4.95 billion, a PE ratio of 12.80 and a beta of 1.05. The company has a current ratio of 0.98, a quick 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. The business's 50 day moving average is $8.63 and its 200-day moving average is $9.40.
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Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.01). The firm had revenue of $479.67 million for the quarter, compared to the consensus estimate 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 business posted $0.19 earnings per share. On average, analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current year.
Valley National Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.98%. Valley National Bancorp's dividend payout ratio (DPR) is presently 63.77%.
About Valley National Bancorp
(Free Report)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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