Swiss National Bank Has $7.71 Million Position in Valley National Bancorp (NASDAQ:VLY)

Swiss National Bank raised its holdings in Valley National Bancorp (NASDAQ:VLY) by 0.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 851,360 shares of the company’s stock after acquiring an additional 6,500 shares during the quarter. Swiss National Bank’s holdings in Valley National Bancorp were worth $7,713,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in VLY. Wellington Management Group LLP increased its holdings in shares of Valley National Bancorp by 384.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,970,862 shares of the company’s stock valued at $81,276,000 after acquiring an additional 7,118,044 shares during the last quarter. Burkehill Global Management LP acquired a new position in Valley National Bancorp during the fourth quarter valued at approximately $20,838,000. Basswood Capital Management L.L.C. bought a new position in shares of Valley National Bancorp in the third quarter valued at approximately $19,399,000. Bank of New York Mellon Corp lifted its stake in shares of Valley National Bancorp by 27.8% in the fourth quarter. Bank of New York Mellon Corp now owns 6,101,280 shares of the company’s stock worth $55,278,000 after buying an additional 1,327,829 shares during the last quarter. Finally, PL Capital Advisors LLC boosted its holdings in shares of Valley National Bancorp by 806.0% during the 4th quarter. PL Capital Advisors LLC now owns 906,000 shares of the company’s stock worth $8,208,000 after buying an additional 806,000 shares during the period. 61.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Joseph Chillura sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were 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 owns 495,249 shares of the company’s stock, valued at approximately $5,056,492.29. This trade represents a 9.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.88% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Royal Bank of Canada lifted their target price on shares of Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Stephens reiterated an “overweight” rating and issued a $12.50 price objective on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Barclays raised their target price 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. JPMorgan Chase & Co. upped their price target on Valley National Bancorp from $10.50 to $11.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Citigroup raised their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Valley National Bancorp currently has an average rating of “Hold” and an average price target of $10.67.

Valley National Bancorp Trading Up 0.5 %

Shares of Valley National Bancorp stock opened at $8.85 on Friday. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.10. The firm has a market capitalization of $4.96 billion, a PE ratio of 12.83 and a beta of 1.11. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.98 and a quick ratio of 0.98. The company’s fifty day moving average price is $9.59 and its two-hundred day moving average price is $9.48.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. During the same quarter in the prior year, the firm posted $0.22 EPS. On average, analysts expect that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend is Friday, March 14th. Valley National Bancorp’s dividend payout ratio (DPR) is 63.77%.

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.