Vise Technologies Inc. Buys 8,828 Shares of Valley National Bancorp (NASDAQ:VLY)

Vise Technologies Inc. raised its stake in Valley National Bancorp (NASDAQ:VLY) by 75.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,535 shares of the company’s stock after acquiring an additional 8,828 shares during the period. Vise Technologies Inc.’s holdings in Valley National Bancorp were worth $186,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Valley National Bancorp in the 4th quarter valued at $31,490,000. Xponance Inc. increased its holdings in Valley National Bancorp by 13.7% in the 4th quarter. Xponance Inc. now owns 66,588 shares of the company’s stock valued at $603,000 after acquiring an additional 8,032 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Valley National Bancorp by 27.8% in the 4th quarter. Bank of New York Mellon Corp now owns 6,101,280 shares of the company’s stock valued at $55,278,000 after acquiring an additional 1,327,829 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings 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 acquiring an additional 640,933 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Valley National Bancorp by 9.8% in the 4th quarter. Principal Financial Group Inc. now owns 1,089,896 shares of the company’s stock valued at $9,874,000 after acquiring an additional 96,866 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Wall Street Zen downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, May 17th. Truist Financial initiated coverage on shares of Valley National Bancorp in a research note on Tuesday, May 13th. They issued a “hold” rating and a $10.00 price objective for the company. Piper Sandler raised 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 note on Monday, March 24th. Jefferies Financial Group initiated coverage on shares of Valley National Bancorp in a research note on Wednesday, May 21st. They issued a “hold” rating and a $10.00 price objective for the company. Finally, Barclays dropped their price objective on shares of 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 research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Valley National Bancorp currently has an average rating of “Hold” and an average price target of $10.55.

Valley National Bancorp Price Performance

VLY stock opened at $8.84 on Friday. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $8.64 and a 200 day moving average price of $9.33. The stock has a market cap of $4.95 billion, a PE ratio of 12.81 and a beta of 1.05.

Valley National Bancorp (NASDAQ:VLY) last released 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 firm had revenue of $479.67 million for the quarter, compared to analysts’ expectations of $483.98 million. During the same period in the prior year, the firm posted $0.19 earnings per share. Equities research analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.11 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.44 annualized dividend and a yield of 4.98%. Valley National Bancorp’s dividend payout ratio (DPR) is 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.