Dimensional Fund Advisors LP Increases Stake in Valley National Bancorp (NASDAQ:VLY)

Dimensional Fund Advisors LP grew its stake in Valley National Bancorp (NASDAQ:VLY) by 1.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 25,722,816 shares of the company’s stock after buying an additional 337,416 shares during the quarter. Dimensional Fund Advisors LP owned 5.05% of Valley National Bancorp worth $179,537,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Valley National Bancorp during the fourth quarter worth approximately $49,734,000. Quest Partners LLC purchased a new stake in Valley National Bancorp during the fourth quarter worth approximately $390,000. United Services Automobile Association lifted its stake in Valley National Bancorp by 15.7% during the fourth quarter. United Services Automobile Association now owns 36,636 shares of the company’s stock worth $398,000 after purchasing an additional 4,966 shares during the last quarter. TFO Wealth Partners LLC lifted its stake in Valley National Bancorp by 54,375.0% during the fourth quarter. TFO Wealth Partners LLC now owns 26,148 shares of the company’s stock worth $284,000 after purchasing an additional 26,100 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Valley National Bancorp during the fourth quarter worth approximately $754,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on VLY shares. StockNews.com cut Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Morgan Stanley raised Valley National Bancorp from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $8.00 to $9.50 in a research report on Monday, August 5th. JPMorgan Chase & Co. cut their price target on Valley National Bancorp from $8.50 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Royal Bank of Canada lifted their price target on Valley National Bancorp from $8.00 to $9.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Barclays cut their price target on Valley National Bancorp from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.31.

Valley National Bancorp Trading Up 3.3 %

NASDAQ:VLY opened at $9.34 on Friday. The firm has a market cap of $4.76 billion, a P/E ratio of 11.00 and a beta of 1.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.51. The stock’s 50 day simple moving average is $8.19 and its 200-day simple moving average is $7.65. Valley National Bancorp has a 12-month low of $6.47 and a 12-month high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). Valley National Bancorp had a return on equity of 6.53% and a net margin of 10.79%. The business had revenue of $884.68 million for the quarter, compared to analyst estimates of $458.67 million. During the same period in the prior year, the company earned $0.28 EPS. Equities analysts anticipate that Valley National Bancorp will post 0.7 EPS for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date is Friday, September 13th. Valley National Bancorp’s dividend payout ratio is presently 51.76%.

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.