Mariner LLC Has $1.38 Million Stock Position in Valley National Bancorp (NASDAQ:VLY)

Mariner LLC lifted its position in Valley National Bancorp (NASDAQ:VLY) by 73.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,399 shares of the company’s stock after buying an additional 64,374 shares during the quarter. Mariner LLC’s holdings in Valley National Bancorp were worth $1,381,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted 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 purchasing an additional 8,088,466 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of 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 during the last quarter. Norges Bank bought a new position in shares of Valley National Bancorp during the 4th quarter worth approximately $31,490,000. Burkehill Global Management LP acquired a new stake in Valley National Bancorp during the 4th quarter valued at $20,838,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Valley National Bancorp by 27.8% during the 4th quarter. Bank of New York Mellon Corp now owns 6,101,280 shares of the company’s stock worth $55,278,000 after buying an additional 1,327,829 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Valley National Bancorp Stock Performance

NASDAQ:VLY opened at $8.59 on Friday. The company has a market capitalization of $4.81 billion, a PE ratio of 12.45 and a beta of 1.06. Valley National Bancorp has a fifty-two week low of $6.47 and a fifty-two week high of $11.10. 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 company has a 50 day simple moving average of $8.79 and a two-hundred day simple moving average of $9.43.

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 business 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%. Research analysts anticipate 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 was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.11 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.44 annualized dividend and a dividend yield of 5.12%. Valley National Bancorp’s dividend payout ratio is presently 63.77%.

Insider Activity

In other news, EVP Joseph Chillura sold 50,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total value of $510,500.00. Following the completion of the sale, the executive vice president now directly owns 495,249 shares of the company’s stock, valued at $5,056,492.29. This represents a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.43% of the company’s stock.

Wall Street Analyst Weigh In

VLY has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Citigroup increased their target price on Valley National Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Piper Sandler upgraded shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 price objective for the company in a research report on Monday, March 24th. StockNews.com cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, April 12th. Finally, Barclays dropped their price target on Valley National Bancorp from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.67.

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.