Trexquant Investment LP Boosts Stock Position in Valley National Bancorp (NASDAQ:VLY)

Trexquant Investment LP boosted its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 17.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 657,448 shares of the company’s stock after purchasing an additional 97,921 shares during the quarter. Trexquant Investment LP owned about 0.13% of Valley National Bancorp worth $5,956,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Valley National Bancorp by 9.2% during the 4th quarter. Vanguard Group Inc. now owns 50,002,161 shares of the company’s stock valued at $453,020,000 after purchasing an additional 4,204,651 shares during the last quarter. Wellington Management Group LLP boosted its stake in Valley National Bancorp by 90.2% during the fourth quarter. Wellington Management Group LLP now owns 17,059,328 shares of the company’s stock worth $154,558,000 after buying an additional 8,088,466 shares during the period. Geode Capital Management LLC increased its position in Valley National Bancorp by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 11,821,134 shares of the company’s stock valued at $107,122,000 after acquiring an additional 656,200 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Valley National Bancorp by 9.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,612,156 shares of the company’s stock valued at $68,966,000 after acquiring an additional 640,933 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Valley National Bancorp by 9.4% in the 4th quarter. Victory Capital Management Inc. now owns 6,211,531 shares of the company’s stock worth $56,276,000 after acquiring an additional 534,846 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Stock Performance

Shares of Valley National Bancorp stock opened at $8.05 on Friday. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.10. The stock’s fifty day moving average price is $9.44 and its 200-day moving average price is $9.51. The firm has a market cap of $4.51 billion, a P/E ratio of 11.67 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 (NASDAQ:VLY) last posted its 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 net margin of 10.62% and a return on equity of 5.14%. During the same quarter in the previous year, the company posted $0.22 EPS. On average, equities research analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current fiscal 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 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 5.47%. Valley National Bancorp’s dividend payout ratio is currently 63.77%.

Analysts Set New Price Targets

A number of research firms recently weighed in on VLY. Royal Bank of Canada increased their price objective on shares of Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Piper Sandler upgraded Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 price target on the stock in a report on Monday, March 24th. Stephens restated an “overweight” rating and set a $12.50 price objective on shares of Valley National Bancorp in a report on Thursday, January 2nd. StockNews.com lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. boosted their target price on shares of 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 research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.78.

Insider Buying and Selling at Valley National Bancorp

In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of the stock in a transaction dated 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 directly owns 495,249 shares of the company’s stock, valued at approximately $5,056,492.29. This represents a 9.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.88% of the company’s stock.

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.