Comerica Bank Has $1.81 Million Stock Position in Valley National Bancorp (NASDAQ:VLY)

Comerica Bank grew its stake in Valley National Bancorp (NASDAQ:VLY) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 199,705 shares of the company’s stock after buying an additional 6,155 shares during the quarter. Comerica Bank’s holdings in Valley National Bancorp were worth $1,809,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in VLY. JPMorgan Chase & Co. boosted its position in Valley National Bancorp by 41.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,494,390 shares of the company’s stock worth $13,539,000 after acquiring an additional 439,831 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in Valley National Bancorp by 17.0% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 35,600 shares of the company’s stock worth $323,000 after purchasing an additional 5,181 shares during the last quarter. SG Americas Securities LLC grew its position in Valley National Bancorp by 22.4% in the fourth quarter. SG Americas Securities LLC now owns 56,228 shares of the company’s stock valued at $509,000 after purchasing an additional 10,300 shares in the last quarter. KBC Group NV increased its stake in Valley National Bancorp by 24.8% in the 4th quarter. KBC Group NV now owns 18,035 shares of the company’s stock valued at $163,000 after buying an additional 3,585 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in Valley National Bancorp by 8.8% during the 4th quarter. Pacer Advisors Inc. now owns 67,976 shares of the company’s stock worth $616,000 after buying an additional 5,503 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Trading Down 0.3 %

Shares of NASDAQ:VLY opened at $8.81 on Friday. Valley National Bancorp has a 12-month low of $6.47 and a 12-month high of $11.10. The business has a 50 day moving average of $8.62 and a 200-day moving average of $9.40. 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 has a market cap of $4.93 billion, a PE ratio of 12.77 and a beta of 1.05.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Valley National Bancorp had a net margin of 10.62% and a return on equity of 5.14%. The firm had revenue of $479.67 million during the quarter, compared to analyst estimates of $483.98 million. During the same period in the prior year, the company earned $0.19 earnings per share. As a group, equities research 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 disclosed 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 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date of this dividend was Friday, March 14th. Valley National Bancorp’s dividend payout ratio is currently 63.77%.

Analyst Ratings Changes

VLY has been the topic of several analyst reports. Citigroup upped their target price on Valley National Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Barclays cut their price objective on Valley National Bancorp from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. boosted their target price on shares of Valley National Bancorp from $10.50 to $11.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Royal Bank of Canada increased their price target 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. Finally, Piper Sandler upgraded shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 target price for the company in a research note on Monday, March 24th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Valley National Bancorp currently has an average rating of “Hold” and a consensus target price of $10.67.

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.