1 week Ago By Defense World Staff
JPMorgan Chase & Co. increased its stake in shares of Valley National Bancorp ( NASDAQ:VLY – Free Report ) by 66.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC.
The firm owned 2,485,474 shares of the company’s stock after purchasing an additional 991,084 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.
49% of Valley National Bancorp worth $22,518,000 as of its most recent filing with the SEC. A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Meiji Yasuda Asset Management Co Ltd.
increased its stake in shares of Valley National Bancorp by 9.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd.
now owns 11,527 shares of the company’s stock worth $104,000 after purchasing an additional 1,002 shares during the period. United Services Automobile Association lifted its stake in Valley National Bancorp by 3.7% during the fourth quarter.
United Services Automobile Association now owns 28,702 shares of the company’s stock worth $260,000 after purchasing an additional 1,029 shares during the period. PNC Financial Services Group Inc. boosted its stake in Valley National Bancorp by 2.
2% in the 4th quarter. PNC Financial Services Group Inc. now owns 48,118 shares of the company’s stock valued at $436,000 after buying an additional 1,046 shares in the last quarter.
Empowered Funds LLC grew its holdings in shares of Valley National Bancorp by 12.0% in the 4th quarter. Empowered Funds LLC now owns 12,812 shares of the company’s stock worth $116,000 after purchasing an additional 1,371 shares during the last quarter.
Finally, New York State Teachers Retirement System grew its stake in Valley National Bancorp by 0.6% during the fourth quarter. New York State Teachers Retirement System now owns 283,222 shares of the company’s stock worth $2,566,000 after buying an additional 1,683 shares during the last quarter.
61.00% of the stock is owned by hedge funds and other institutional investors. Analyst Ratings Changes A number of research firms have recently weighed in on VLY.
Citigroup boosted their target price on Valley National Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th.
Stephens reiterated an “overweight” rating and issued a $12.50 price target on shares of Valley National Bancorp in a report on Thursday, January 2nd. StockNews.
com downgraded Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, April 3rd. Royal Bank of Canada boosted their price target 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. Finally, JPMorgan Chase & Co. upped their price objective on Valley National Bancorp from $10.
50 to $11.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock.
Based on data from MarketBeat.com, Valley National Bancorp has a consensus rating of “Hold” and a consensus target price of $10.67.
Valley National Bancorp Stock Up 7.7 % NASDAQ VLY opened at $8.57 on Thursday.
The company has a market capitalization of $4.80 billion, a P/E ratio of 12.42 and a beta of 1.
06. The company has a quick ratio of 0.98, a current ratio of 0.
98 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average price is $9.
24 and its 200-day moving average price is $9.48. Valley National Bancorp has a 52 week low of $6.
47 and a 52 week high of $11.10. Valley National Bancorp ( NASDAQ:VLY – Get Free Report ) last posted its quarterly earnings results on Thursday, January 23rd.
The company reported $0.13 earnings per share 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 company posted $0.22 EPS.
On average, equities research analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current year. Valley National Bancorp Announces Dividend 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 5.13%. The ex-dividend date was Friday, March 14th.
Valley National Bancorp’s payout ratio is currently 63.77%. Insiders Place Their Bets In related news, EVP Joseph Chillura sold 50,000 shares of the company’s stock in a transaction 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 owns 495,249 shares in the company, valued at $5,056,492.29. This represents a 9.
17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website . 1.
88% of the stock is owned by insiders. 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.
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