State of Tennessee Department of Treasury Sells 4,932 Shares of Valley National Bancorp (NASDAQ:VLY)

State of Tennessee Department of Treasury reduced its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 2.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 174,763 shares of the company’s stock after selling 4,932 shares during the period. State of Tennessee Department of Treasury’s holdings in Valley National Bancorp were worth $1,583,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in shares of Valley National Bancorp in the fourth quarter valued at approximately $25,000. CreativeOne Wealth LLC bought a new position in shares of Valley National Bancorp during the 4th quarter worth $102,000. Sapient Capital LLC purchased a new position in shares of Valley National Bancorp during the fourth quarter valued at $103,000. Meiji Yasuda Asset Management Co Ltd. raised its holdings 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 valued at $104,000 after acquiring an additional 1,002 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. purchased a new stake in Valley National Bancorp in the fourth quarter worth about $104,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on VLY shares. JPMorgan Chase & Co. lifted their price target on Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 24th. StockNews.com upgraded shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a report on Saturday. Barclays lowered their price target on shares of Valley National Bancorp from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Citigroup boosted 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. Finally, Royal Bank of Canada raised 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. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Valley National Bancorp has an average rating of “Hold” and an average price target of $10.67.

Valley National Bancorp Trading Up 0.5 %

NASDAQ VLY opened at $8.67 on Wednesday. The stock has a market cap of $4.86 billion, a P/E ratio of 12.57 and a beta of 1.06. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46. Valley National Bancorp has a 12-month low of $6.47 and a 12-month high of $11.10. The company has a fifty day simple moving average of $8.74 and a two-hundred day simple moving average of $9.43.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The firm had revenue of $479.67 million for the quarter, compared to analyst estimates of $483.98 million. Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. During the same period in the prior year, the firm posted $0.19 EPS. On average, analysts forecast that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 5.07%. Valley National Bancorp’s dividend payout ratio is presently 63.77%.

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.