Valley National Bancorp (NASDAQ:VLY) Stock Position Lowered by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 10.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,813 shares of the company’s stock after selling 9,153 shares during the period. Nisa Investment Advisors LLC’s holdings in Valley National Bancorp were worth $704,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. boosted its stake in Valley National Bancorp by 17.0% in 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 stake in Valley National Bancorp by 41.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,494,390 shares of the company’s stock valued at $13,539,000 after buying an additional 439,831 shares during the period. Sanctuary Advisors LLC increased its position in Valley National Bancorp by 170.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 67,861 shares of the company’s stock worth $615,000 after purchasing an additional 42,731 shares during the last quarter. Pine Valley Investments Ltd Liability Co acquired a new stake in Valley National Bancorp in the third quarter valued at approximately $154,000. Finally, Geode Capital Management LLC raised its stake in shares of Valley National Bancorp by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 11,164,934 shares of the company’s stock valued at $101,170,000 after acquiring an additional 300,385 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on VLY shares. Wedbush reiterated a “neutral” rating and set a $10.00 price target on shares of Valley National Bancorp in a report on Friday, October 25th. Stephens reiterated an “overweight” rating and issued a $12.50 target price on shares of Valley National Bancorp in a report on Thursday, January 2nd. Piper Sandler boosted their target price on shares of Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a research 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 research report on Thursday, December 5th. Finally, Royal Bank of Canada boosted their price objective on Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.67.

Valley National Bancorp Stock Down 1.2 %

VLY opened at $10.20 on Wednesday. Valley National Bancorp has a fifty-two week low of $6.47 and a fifty-two week high of $11.10. The company has a market capitalization of $5.20 billion, a P/E ratio of 16.45 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.97. The firm’s fifty day moving average price is $9.75 and its two-hundred day moving average price is $9.12.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings results 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 return on equity of 5.87% and a net margin of 9.42%. During the same quarter last year, the business posted $0.22 earnings per share. On average, analysts anticipate that Valley National Bancorp will post 0.64 EPS for the current year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Friday, December 13th. Valley National Bancorp’s dividend payout ratio is 70.97%.

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.