Waverly Advisors LLC Buys Shares of 13,019 Valley National Bancorp (NASDAQ:VLY)

Waverly Advisors LLC bought a new stake in shares of Valley National Bancorp (NASDAQ:VLY) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 13,019 shares of the company’s stock, valued at approximately $118,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. R Squared Ltd purchased a new position in Valley National Bancorp during the 4th quarter valued at about $25,000. Point72 Hong Kong Ltd purchased a new position in Valley National Bancorp during the 4th quarter valued at about $39,000. Optiver Holding B.V. grew its stake in Valley National Bancorp by 80.9% during the 4th quarter. Optiver Holding B.V. now owns 5,079 shares of the company’s stock valued at $46,000 after acquiring an additional 2,271 shares in the last quarter. CreativeOne Wealth LLC purchased a new position in Valley National Bancorp during the 4th quarter valued at about $102,000. Finally, Sapient Capital LLC purchased a new position in Valley National Bancorp during the 4th quarter valued at about $103,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on VLY shares. Citigroup lifted their target price on Valley National Bancorp from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Jefferies Financial Group began coverage on Valley National Bancorp in a research note on Wednesday, May 21st. They issued a “hold” rating and a $10.00 price target for the company. Truist Financial began coverage on Valley National Bancorp in a research note on Tuesday, May 13th. They issued a “hold” rating and a $10.00 price target for the company. Wall Street Zen cut Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, May 17th. Finally, Piper Sandler raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 price target for the company in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Valley National Bancorp has a consensus rating of “Hold” and a consensus price target of $10.55.

Valley National Bancorp Stock Up 0.1%

Shares of Valley National Bancorp stock opened at $8.70 on Tuesday. The stock has a market capitalization of $4.87 billion, a P/E ratio of 12.61 and a beta of 1.05. 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 stock has a 50 day moving average price of $8.65 and a two-hundred day moving average price of $9.35. Valley National Bancorp has a 12-month low of $6.47 and a 12-month high of $11.10.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.18 EPS 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 business had revenue of $479.67 million for the quarter, compared to analyst estimates of $483.98 million. During the same quarter last year, the firm earned $0.19 earnings per share. Equities analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.11 per share. The ex-dividend date is Friday, June 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.06%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 63.77%.

Valley National Bancorp Company 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.