52,700 Shares in Valley National Bancorp (NASDAQ:VLY) Acquired by Bayesian Capital Management LP

Bayesian Capital Management LP purchased a new stake in Valley National Bancorp (NASDAQ:VLY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 52,700 shares of the company’s stock, valued at approximately $477,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP lifted its position in shares of 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 in the last quarter. Vanguard Group Inc. raised its position in Valley National Bancorp by 9.2% during 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 period. Norges Bank purchased a new stake in Valley National Bancorp in the 4th quarter worth about $31,490,000. Soros Fund Management LLC acquired a new stake in Valley National Bancorp during the 4th quarter worth about $27,180,000. Finally, Dimensional Fund Advisors LP grew its stake in 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 valued at $259,692,000 after acquiring an additional 2,810,005 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Valley National Bancorp Stock Down 1.3 %

Shares of VLY stock opened at $8.78 on Wednesday. The stock’s 50 day simple moving average is $8.66 and its 200 day simple moving average is $9.41. Valley National Bancorp has a twelve month low of $6.47 and a twelve month 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 market capitalization of $4.92 billion, a price-to-earnings ratio of 12.72 and a beta of 1.05.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. The firm had revenue of $479.67 million during the quarter, compared to analyst estimates of $483.98 million. During the same quarter in the previous year, the firm posted $0.19 earnings per share. As a group, research analysts predict that Valley National Bancorp will post 0.99 EPS 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 paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 annualized dividend and a dividend yield of 5.01%. Valley National Bancorp’s payout ratio is 63.77%.

Analyst Ratings Changes

VLY has been the subject of several research reports. Barclays decreased their price target 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 boosted 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. StockNews.com upgraded Valley National Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 26th. Piper Sandler upgraded Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 target price on the stock in a research note on Monday, March 24th. Finally, Royal Bank of Canada raised their price target on Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Valley National Bancorp currently has an average rating of “Hold” and an average 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.