Valley National Bancorp (NASDAQ:VLY) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its position in shares of Valley National Bancorp (NASDAQ:VLY) by 9.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,132 shares of the company’s stock after purchasing an additional 4,710 shares during the period. State of Alaska Department of Revenue’s holdings in Valley National Bancorp were worth $490,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Yousif Capital Management LLC grew its holdings in shares of Valley National Bancorp by 5.0% during the fourth quarter. Yousif Capital Management LLC now owns 165,180 shares of the company’s stock worth $1,497,000 after buying an additional 7,818 shares during the last quarter. Retirement Systems of Alabama raised its position in Valley National Bancorp by 11.1% during the 4th quarter. Retirement Systems of Alabama now owns 577,295 shares of the company’s stock worth $5,230,000 after buying an additional 57,684 shares during the last quarter. R Squared Ltd purchased a new position in Valley National Bancorp during the 4th quarter worth $25,000. Pacer Advisors Inc. raised its position in Valley National Bancorp by 8.8% during the 4th quarter. Pacer Advisors Inc. now owns 67,976 shares of the company’s stock worth $616,000 after buying an additional 5,503 shares during the last quarter. Finally, KBC Group NV raised its position 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 buying an additional 3,585 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Valley National Bancorp Stock Up 0.5 %

Shares of Valley National Bancorp stock opened at $9.96 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.98 and a quick ratio of 0.98. Valley National Bancorp has a 1-year low of $6.47 and a 1-year high of $11.10. The business’s fifty day moving average price is $9.66 and its two-hundred day moving average price is $9.30. The company has a market capitalization of $5.07 billion, a P/E ratio of 14.43 and a beta of 1.12.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.13 earnings per share (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 quarter in the prior year, the firm earned $0.22 earnings per share. As a group, research analysts forecast that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date was Friday, December 13th. Valley National Bancorp’s payout ratio is 63.77%.

Insider Transactions at Valley National Bancorp

In other news, EVP Joseph Chillura sold 50,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $10.21, for a total value of $510,500.00. Following the completion of the sale, the executive vice president now directly owns 495,249 shares of the company’s stock, valued at $5,056,492.29. This represents a 9.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.88% of the stock is owned by insiders.

Analysts Set New Price Targets

VLY has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Wedbush reissued a “neutral” rating and issued a $10.00 price target on shares of Valley National Bancorp in a report on Friday, October 25th. Barclays raised their price target on Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Royal Bank of Canada increased their target price on shares of Valley National Bancorp from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Finally, Stephens reissued an “overweight” rating and set a $12.50 price target on shares of Valley National Bancorp in a research note on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $10.67.

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.