3 days Ago By ABMN Staff
CIBC Private Wealth Group LLC grew its stake in shares of Valley National Bancorp ( NASDAQ:VLY – Free Report ) by 88.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,677 shares of the company’s stock after buying an additional 9,714 shares during the quarter.
CIBC Private Wealth Group LLC’s holdings in Valley National Bancorp were worth $186,000 at the end of the most recent quarter. Other large investors have also recently modified their holdings of the company. California Public Employees Retirement System increased its stake in shares of Valley National Bancorp by 0.
3% in the fourth quarter. California Public Employees Retirement System now owns 779,572 shares of the company’s stock worth $7,063,000 after buying an additional 1,954 shares during the period. Norges Bank bought a new position in shares of Valley National Bancorp during the fourth quarter valued at about $31,490,000.
JPMorgan Chase & Co. boosted its holdings in shares of Valley National Bancorp by 66.3% during the fourth quarter.
JPMorgan Chase & Co. now owns 2,485,474 shares of the company’s stock worth $22,518,000 after purchasing an additional 991,084 shares during the period. Financial Engines Advisors L.
L.C. bought a new stake in shares of Valley National Bancorp in the fourth quarter worth about $104,000.
Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in Valley National Bancorp by 9.5% during the 4th quarter.
Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company’s stock valued at $104,000 after purchasing an additional 1,002 shares during the period. Hedge funds and other institutional investors own 61.
00% of the company’s stock. Analysts Set New Price Targets A number of brokerages have recently weighed in on VLY. Piper Sandler upgraded Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.
00 price objective on the stock in a research report on Monday, March 24th. JPMorgan Chase & Co. lifted their price target on shares of Valley National Bancorp from $10.
50 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Citigroup upped their price objective on shares of Valley National Bancorp from $10.
00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Royal Bank of Canada lifted their target price on shares of Valley National Bancorp from $11.
00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Finally, Stephens reissued an “overweight” rating and issued a $12.
50 price target on shares of Valley National Bancorp in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Valley National Bancorp currently has an average rating of “Hold” and an average price target of $10.
78. Valley National Bancorp Trading Down 0.6 % Shares of NASDAQ VLY opened at $8.
05 on Monday. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.
10. 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 firm has a 50-day moving average of $9.
44 and a 200 day moving average of $9.52. The stock has a market cap of $4.
51 billion, a P/E ratio of 11.67 and a beta of 1.06.
Valley National Bancorp ( NASDAQ:VLY – Get Free Report ) last released its 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 net margin of 10.
62% and a return on equity of 5.14%. During the same quarter in the previous year, the business earned $0.
22 EPS. As a group, sell-side analysts expect that Valley National Bancorp will post 0.99 EPS for the current fiscal year.
Valley National Bancorp Dividend Announcement The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.11 dividend.
This represents a $0.44 annualized dividend and a yield of 5.47%.
The ex-dividend date of this dividend was Friday, March 14th. Valley National Bancorp’s dividend payout ratio (DPR) is 63.77%.
Insider Transactions at Valley National Bancorp In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of Valley National Bancorp stock in a transaction dated 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 transaction, the executive vice president now directly owns 495,249 shares of the company’s stock, valued at approximately $5,056,492.29.
The trade was a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link .
Insiders own 1.88% of the company’s stock. About Valley National Bancorp ( Free Report ) 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. Read More Receive News & Ratings for Valley National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valley National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter .
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