Pacer Advisors Inc. Acquires 5,503 Shares of Valley National Bancorp (NASDAQ:VLY)

Pacer Advisors Inc. increased its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 8.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 67,976 shares of the company’s stock after acquiring an additional 5,503 shares during the period. Pacer Advisors Inc.’s holdings in Valley National Bancorp were worth $616,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. KBC Group NV increased its holdings in Valley National Bancorp by 24.8% during the 4th quarter. KBC Group NV now owns 18,035 shares of the company’s stock worth $163,000 after purchasing an additional 3,585 shares during the period. SG Americas Securities LLC increased its holdings in Valley National Bancorp by 22.4% during the 4th quarter. SG Americas Securities LLC now owns 56,228 shares of the company’s stock worth $509,000 after purchasing an additional 10,300 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in Valley National Bancorp by 17.0% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 35,600 shares of the company’s stock worth $323,000 after purchasing an additional 5,181 shares during the period. JPMorgan Chase & Co. increased its holdings in Valley National Bancorp by 41.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,494,390 shares of the company’s stock worth $13,539,000 after purchasing an additional 439,831 shares during the period. Finally, Sanctuary Advisors LLC increased its holdings in shares of Valley National Bancorp by 170.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 67,861 shares of the company’s stock valued at $615,000 after acquiring an additional 42,731 shares during the period. 61.00% of the stock is owned by institutional investors.

Valley National Bancorp Stock Down 2.2 %

NASDAQ:VLY opened at $10.05 on Tuesday. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 14.57 and a beta of 1.12. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.10. The stock’s fifty day moving average is $9.73 and its two-hundred day moving average is $9.18.

Valley National Bancorp (NASDAQ:VLY) last posted its earnings results on Thursday, January 23rd. The company reported $0.13 EPS for the quarter, missing the consensus estimate 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 earnings per share. Research analysts anticipate that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend was Friday, December 13th. Valley National Bancorp’s dividend payout ratio (DPR) is 63.77%.

Analyst Ratings Changes

Several brokerages recently weighed in on VLY. Royal Bank of Canada boosted their target price on Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. boosted their target price on Valley National Bancorp from $10.50 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Citigroup boosted their target price on Valley National Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Stephens restated an “overweight” rating and set a $12.50 target price on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Finally, Piper Sandler boosted their target price on Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $10.67.

Insider Activity at Valley National Bancorp

In other news, EVP Joseph Chillura sold 50,000 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total transaction of $510,500.00. Following the completion of the sale, the executive vice president now directly owns 495,249 shares in the company, valued at $5,056,492.29. This represents a 9.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.88% of the stock is owned by corporate insiders.

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.