D. E. Shaw & Co. Inc. Sells 291,027 Shares of Valley National Bancorp (NASDAQ:VLY)

D. E. Shaw & Co. Inc. lessened its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 39.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 438,164 shares of the company’s stock after selling 291,027 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.09% of Valley National Bancorp worth $3,970,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Balyasny Asset Management L.P. acquired a new stake in shares of Valley National Bancorp in the 4th quarter worth $74,558,000. Wellington Management Group LLP lifted its position in Valley National Bancorp by 90.2% during the 4th quarter. Wellington Management Group LLP now owns 17,059,328 shares of the company’s stock worth $154,558,000 after acquiring an additional 8,088,466 shares during the period. Vanguard Group Inc. lifted its position in Valley National Bancorp by 9.2% during the 4th quarter. Vanguard Group Inc. now owns 50,002,161 shares of the company’s stock worth $453,020,000 after acquiring an additional 4,204,651 shares during the period. Norges Bank acquired a new stake in Valley National Bancorp during the 4th quarter worth about $31,490,000. Finally, Soros Fund Management LLC acquired a new stake in Valley National Bancorp during the 4th quarter worth about $27,180,000. Institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Price Performance

Shares of Valley National Bancorp stock opened at $9.16 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10. The business has a 50-day moving average price of $8.65 and a 200 day moving average price of $9.39. The firm has a market cap of $5.13 billion, a PE ratio of 13.28 and a beta of 1.05.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $479.67 million during the quarter, compared to analysts’ expectations of $483.98 million. During the same quarter in the prior year, the firm earned $0.19 EPS. Sell-side analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 annualized dividend and a yield of 4.80%. Valley National Bancorp’s dividend payout ratio (DPR) is currently 63.77%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Truist Financial assumed coverage on Valley National Bancorp in a research note on Tuesday, May 13th. They set a “hold” rating and a $10.00 price objective for the company. Barclays reduced their price objective on Valley National Bancorp from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. StockNews.com lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Royal Bank of Canada lifted their price objective on Valley National Bancorp from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $10.60.

Valley National Bancorp Company 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.