Dimensional Fund Advisors LP Decreases Stock Holdings in Valley National Bancorp $VLY

Dimensional Fund Advisors LP reduced its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,744,462 shares of the company’s stock after selling 637,399 shares during the quarter. Dimensional Fund Advisors LP owned 0.05% of Valley National Bancorp worth $365,249,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Valley National Bancorp by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 13,029,085 shares of the company’s stock valued at $152,200,000 after acquiring an additional 247,651 shares during the period. Marshall Wace LLP grew its holdings in shares of Valley National Bancorp by 1,013.8% in the 4th quarter. Marshall Wace LLP now owns 6,831,049 shares of the company’s stock worth $79,787,000 after acquiring an additional 6,217,716 shares during the period. Norges Bank acquired a new stake in shares of Valley National Bancorp in the 4th quarter worth approximately $71,554,000. AQR Capital Management LLC increased its stake in Valley National Bancorp by 3.9% in the 4th quarter. AQR Capital Management LLC now owns 6,024,409 shares of the company’s stock valued at $70,365,000 after purchasing an additional 224,996 shares in the last quarter. Finally, UBS Group AG increased its stake in Valley National Bancorp by 404.7% in the 3rd quarter. UBS Group AG now owns 5,867,611 shares of the company’s stock valued at $62,197,000 after purchasing an additional 4,704,971 shares in the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Valley National Bancorp Trading Up 0.1%

Shares of VLY opened at $14.68 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.96 and a quick ratio of 0.96. Valley National Bancorp has a 1-year low of $8.95 and a 1-year high of $15.20. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 13.23 and a beta of 1.03. The firm has a 50 day simple moving average of $14.13 and a 200-day simple moving average of $13.19.

Valley National Bancorp (NASDAQ:VLY) last announced its earnings results on Thursday, April 23rd. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $531.89 million. Valley National Bancorp had a return on equity of 8.68% and a net margin of 18.61%.During the same quarter in the prior year, the firm earned $0.18 EPS. Equities analysts forecast that Valley National Bancorp will post 1.3 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.0%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 39.64%.

Analyst Ratings Changes

A number of analysts have commented on VLY shares. Barclays boosted their target price on Valley National Bancorp from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. National Bank Financial set a $17.50 price target on Valley National Bancorp in a research report on Wednesday, July 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Valley National Bancorp in a research note on Monday, July 6th. TD Cowen reaffirmed a “buy” rating on shares of Valley National Bancorp in a research note on Wednesday, June 17th. Finally, Cantor Fitzgerald boosted their price objective on shares of Valley National Bancorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.93.

Insider Transactions at Valley National Bancorp

In other Valley National Bancorp news, COO Russell Barrett sold 90,537 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $13.54, for a total value of $1,225,870.98. Following the transaction, the chief operating officer directly owned 64,167 shares in the company, valued at approximately $868,821.18. This represents a 58.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mitchell L. Crandell sold 25,495 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $14.63, for a total transaction of $372,991.85. Following the sale, the chief accounting officer directly owned 76,116 shares in the company, valued at $1,113,577.08. This represents a 25.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.06% of the company’s stock.

Valley National Bancorp Profile

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.