LSV Asset Management Has $22.38 Million Holdings in Valley National Bancorp (NASDAQ:VLY)

LSV Asset Management boosted its stake in Valley National Bancorp (NASDAQ:VLY) by 98.2% in the fourth quarter, Holdings Channel reports. The firm owned 2,060,631 shares of the company’s stock after purchasing an additional 1,020,815 shares during the quarter. LSV Asset Management’s holdings in Valley National Bancorp were worth $22,378,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of VLY. Wellington Management Group LLP lifted its stake in Valley National Bancorp by 107.4% in the 3rd quarter. Wellington Management Group LLP now owns 4,443,543 shares of the company’s stock valued at $38,037,000 after purchasing an additional 2,301,128 shares during the last quarter. American Century Companies Inc. grew its position in Valley National Bancorp by 7.6% during the 3rd quarter. American Century Companies Inc. now owns 13,025,530 shares of the company’s stock worth $111,499,000 after acquiring an additional 920,140 shares during the last quarter. Knights of Columbus Asset Advisors LLC acquired a new position in Valley National Bancorp in the 4th quarter worth about $6,366,000. AQR Capital Management LLC raised its position in Valley National Bancorp by 220.8% in the third quarter. AQR Capital Management LLC now owns 569,914 shares of the company’s stock valued at $4,878,000 after purchasing an additional 392,244 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Valley National Bancorp by 0.8% during the third quarter. Vanguard Group Inc. now owns 45,427,144 shares of the company’s stock valued at $388,856,000 after purchasing an additional 356,880 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Insider Buying and Selling

In related news, EVP Joseph Chillura sold 49,715 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $8.18, for a total value of $406,668.70. Following the transaction, the executive vice president now directly owns 545,249 shares in the company, valued at approximately $4,460,136.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.88% of the stock is owned by company insiders.

Valley National Bancorp Stock Performance

Shares of VLY stock opened at $7.67 on Tuesday. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 9.02 and a beta of 1.10. Valley National Bancorp has a 52 week low of $6.39 and a 52 week high of $11.22. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $7.71 and a 200-day moving average of $8.78.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). The company had revenue of $890.07 million for the quarter, compared to analyst estimates of $447.38 million. Valley National Bancorp had a return on equity of 7.74% and a net margin of 12.88%. During the same period last year, the business earned $0.30 EPS. On average, equities analysts forecast that Valley National Bancorp will post 0.9 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Thursday, March 14th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 5.74%. The ex-dividend date of this dividend was Wednesday, March 13th. Valley National Bancorp’s dividend payout ratio (DPR) is 51.76%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on VLY shares. Citigroup lowered their price objective on Valley National Bancorp from $11.00 to $8.50 and set a “neutral” rating for the company in a research note on Wednesday, March 13th. Keefe, Bruyette & Woods cut their target price on Valley National Bancorp from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, January 26th. StockNews.com cut Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, February 16th. Royal Bank of Canada cut their price objective on Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 9th. Finally, Morgan Stanley upped their target price on Valley National Bancorp from $8.50 to $9.00 and gave the company an “underweight” rating in a report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.33.

About Valley National Bancorp

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.