Foundry Partners LLC Has $5.31 Million Stock Position in Valley National Bancorp (NASDAQ:VLY)

Foundry Partners LLC increased its position in Valley National Bancorp (NASDAQ:VLYFree Report) by 19.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 620,214 shares of the company’s stock after purchasing an additional 102,854 shares during the quarter. Foundry Partners LLC owned approximately 0.12% of Valley National Bancorp worth $5,309,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in Valley National Bancorp by 153.8% in the 1st quarter. Wellington Management Group LLP now owns 8,869,091 shares of the company’s stock valued at $115,476,000 after buying an additional 5,374,624 shares during the last quarter. Victory Capital Management Inc. grew its stake in Valley National Bancorp by 2,232.2% in the 4th quarter. Victory Capital Management Inc. now owns 4,936,902 shares of the company’s stock valued at $55,836,000 after buying an additional 4,725,214 shares during the last quarter. Norges Bank acquired a new position in Valley National Bancorp in the 4th quarter valued at about $47,062,000. State Street Corp grew its stake in Valley National Bancorp by 14.3% in the 2nd quarter. State Street Corp now owns 24,116,501 shares of the company’s stock valued at $189,346,000 after buying an additional 3,008,420 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Valley National Bancorp by 92.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,415,523 shares of the company’s stock valued at $34,220,000 after buying an additional 2,123,297 shares during the last quarter. 60.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

VLY has been the topic of a number of analyst reports. Piper Sandler decreased their target price on shares of Valley National Bancorp from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, October 30th. StockNews.com upgraded shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. lowered shares of Valley National Bancorp from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $11.00 to $10.00 in a research report on Monday, October 30th. Wedbush decreased their target price on shares of Valley National Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, January 26th. Finally, Citigroup began coverage on shares of Valley National Bancorp in a research report on Friday, December 1st. They set a “neutral” rating and a $9.50 target price on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.33.

Check Out Our Latest Report on Valley National Bancorp

Valley National Bancorp Price Performance

Shares of NASDAQ:VLY opened at $8.90 on Tuesday. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 9.37 and a beta of 1.14. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a 50 day simple moving average of $10.19 and a 200 day simple moving average of $9.27. Valley National Bancorp has a one year low of $6.39 and a one year high of $12.42.

Valley National Bancorp (NASDAQ:VLYGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.03). The company had revenue of $449.97 million during the quarter, compared to the consensus estimate of $467.49 million. Valley National Bancorp had a net margin of 14.82% and a return on equity of 8.67%. During the same period in the previous year, the company earned $0.35 EPS. Research analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Thursday, December 14th were issued a dividend of $0.11 per share. The ex-dividend date was Wednesday, December 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.94%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 46.32%.

About Valley National Bancorp

(Free Report)

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, retail, insurance, and wealth management financial services products. It operates through Consumer Banking, Commercial Banking, and Treasury and Corporate other segments. The company offers non-interest bearing, savings, NOW, money market, and time deposit accounts; commercial and industrial, commercial real estate, residential mortgage, and automobile loans; loans secured by the cash surrender value of life insurance; home equity loans and lines of credit; and secured and unsecured other consumer loans.

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Institutional Ownership by Quarter for Valley National Bancorp (NASDAQ:VLY)

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