Barrow Hanley Mewhinney & Strauss LLC lessened its holdings in Valley National Bancorp (NYSE:VLY) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,543,704 shares of the financial services provider’s stock after selling 166,000 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned about 2.48% of Valley National Bancorp worth $73,420,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. Chicago Equity Partners LLC raised its position in Valley National Bancorp by 22.0% in the third quarter. Chicago Equity Partners LLC now owns 637,215 shares of the financial services provider’s stock valued at $7,678,000 after purchasing an additional 114,780 shares during the period. First Republic Investment Management Inc. increased its position in shares of Valley National Bancorp by 87.3% during the third quarter. First Republic Investment Management Inc. now owns 28,213 shares of the financial services provider’s stock worth $340,000 after acquiring an additional 13,149 shares during the period. Prudential Financial Inc. increased its position in shares of Valley National Bancorp by 78.2% during the third quarter. Prudential Financial Inc. now owns 691,144 shares of the financial services provider’s stock worth $8,328,000 after acquiring an additional 303,260 shares during the period. Nordea Investment Management AB increased its holdings in Valley National Bancorp by 61.8% in the third quarter. Nordea Investment Management AB now owns 594,300 shares of the financial services provider’s stock valued at $7,161,000 after buying an additional 227,100 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Valley National Bancorp by 185.6% in the third quarter. Principal Financial Group Inc. now owns 3,230,525 shares of the financial services provider’s stock valued at $38,928,000 after buying an additional 2,099,452 shares during the last quarter. Institutional investors and hedge funds own 64.47% of the company’s stock.
Shares of Valley National Bancorp (NYSE:VLY) traded down $0.23 on Wednesday, hitting $12.98. 2,950,000 shares of the company’s stock were exchanged, compared to its average volume of 2,270,000. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $4,290.00, a price-to-earnings ratio of 19.97 and a beta of 0.92. Valley National Bancorp has a 52 week low of $10.61 and a 52 week high of $13.38.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Wednesday, March 14th. Valley National Bancorp’s payout ratio is currently 67.69%.
In other Valley National Bancorp news, Director Peter J. Baum acquired 3,433 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was acquired at an average price of $12.70 per share, with a total value of $43,599.10. Following the transaction, the director now directly owns 41,086 shares in the company, valued at $521,792.20. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 3.07% of the stock is currently owned by insiders.
Several research firms recently commented on VLY. Piper Jaffray Companies raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $13.50 target price on the stock in a report on Friday, January 5th. Zacks Investment Research downgraded shares of Valley National Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, March 8th. ValuEngine upgraded shares of Valley National Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Royal Bank of Canada started coverage on shares of Valley National Bancorp in a research report on Thursday, December 21st. They issued an “outperform” rating and a $14.00 price objective for the company. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $15.00 target price on shares of Valley National Bancorp in a report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Valley National Bancorp currently has a consensus rating of “Hold” and a consensus target price of $13.64.
Valley National Bancorp Profile
Valley National Bancorp is the bank holding company for Valley National Bank (the Bank). The Bank provides a range of commercial, retail, insurance and wealth management financial services products. The Company’s segments include Consumer Lending, Commercial Lending, Investment Management, and Corporate and Other Adjustments.
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