Valley National Bancorp (NASDAQ:VLY) Shares Sold by Tidal Investments LLC

Tidal Investments LLC cut its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 30.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,828 shares of the company’s stock after selling 7,259 shares during the quarter. Tidal Investments LLC’s holdings in Valley National Bancorp were worth $152,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in Valley National Bancorp by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 25,722,816 shares of the company’s stock worth $179,537,000 after acquiring an additional 337,416 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Valley National Bancorp by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,164,934 shares of the company’s stock worth $101,170,000 after purchasing an additional 300,385 shares in the last quarter. AQR Capital Management LLC increased its holdings in Valley National Bancorp by 193.2% in the second quarter. AQR Capital Management LLC now owns 10,173,791 shares of the company’s stock valued at $69,233,000 after buying an additional 6,703,552 shares during the last quarter. Wellington Management Group LLP raised its stake in Valley National Bancorp by 384.2% in the third quarter. Wellington Management Group LLP now owns 8,970,862 shares of the company’s stock valued at $81,276,000 after buying an additional 7,118,044 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Valley National Bancorp by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,971,223 shares of the company’s stock worth $63,159,000 after acquiring an additional 98,574 shares in the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Valley National Bancorp Trading Up 1.3 %

Shares of Valley National Bancorp stock opened at $9.23 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.97 and a current ratio of 0.99. The company has a market capitalization of $4.70 billion, a P/E ratio of 14.89 and a beta of 1.09. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.18. The company’s fifty day moving average is $9.93 and its two-hundred day moving average is $8.67.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. The firm had revenue of $921.22 million for the quarter, compared to analyst estimates of $467.87 million. 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 company posted $0.26 earnings per share. Analysts forecast that Valley National Bancorp will post 0.65 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend is Friday, December 13th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 70.97%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on VLY. Morgan Stanley raised their target price on Valley National Bancorp from $9.50 to $10.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Piper Sandler boosted their price objective 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. StockNews.com cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Barclays lifted their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. upgraded shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $10.50 to $11.00 in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $10.00.

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.