Valley National Bancorp (NASDAQ:VLY) Shares Acquired by Trexquant Investment LP

Trexquant Investment LP lifted its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 17.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 657,448 shares of the company’s stock after buying an additional 97,921 shares during the period. Trexquant Investment LP’s holdings in Valley National Bancorp were worth $5,956,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Valley National Bancorp by 9.2% in the 4th quarter. Vanguard Group Inc. now owns 50,002,161 shares of the company’s stock worth $453,020,000 after acquiring an additional 4,204,651 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Valley National Bancorp by 90.2% during the fourth quarter. Wellington Management Group LLP now owns 17,059,328 shares of the company’s stock worth $154,558,000 after purchasing an additional 8,088,466 shares during the period. Geode Capital Management LLC boosted its position in Valley National Bancorp by 5.9% in the fourth quarter. Geode Capital Management LLC now owns 11,821,134 shares of the company’s stock valued at $107,122,000 after buying an additional 656,200 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 worth $68,966,000 after buying an additional 640,933 shares during the period. Finally, Victory Capital Management Inc. raised its position in Valley National Bancorp by 9.4% during the 4th quarter. Victory Capital Management Inc. now owns 6,211,531 shares of the company’s stock worth $56,276,000 after buying an additional 534,846 shares during the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Joseph Chillura sold 50,000 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 495,249 shares of the company’s stock, valued at approximately $5,056,492.29. This represents a 9.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.88% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup upped their price objective 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. JPMorgan Chase & Co. increased their price target on Valley National Bancorp from $10.50 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. StockNews.com lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday. 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, Stephens reiterated an “overweight” rating and set a $12.50 price target on shares of Valley National Bancorp in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.78.

Valley National Bancorp Stock Performance

Shares of VLY stock opened at $8.05 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46. Valley National Bancorp has a 12-month low of $6.47 and a 12-month high of $11.10. The business’s 50 day moving average is $9.44 and its two-hundred day moving average is $9.51. The company has a market capitalization of $4.51 billion, a P/E ratio of 11.67 and a beta of 1.06.

Valley National Bancorp (NASDAQ:VLY) last announced its earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Valley National Bancorp had a net margin of 10.62% and a return on equity of 5.14%. During the same period in the previous year, the business posted $0.22 EPS. Analysts expect that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.47%. Valley National Bancorp’s dividend payout ratio is currently 63.77%.

Valley National Bancorp 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.