American Century Companies Inc. Has $63.41 Million Position in Valley National Bancorp (NASDAQ:VLY)

American Century Companies Inc. cut its holdings in Valley National Bancorp (NASDAQ:VLY) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,998,464 shares of the company’s stock after selling 694,692 shares during the quarter. American Century Companies Inc. owned about 1.37% of Valley National Bancorp worth $63,406,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in Valley National Bancorp by 384.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,970,862 shares of the company’s stock worth $81,276,000 after acquiring an additional 7,118,044 shares during the last quarter. Burkehill Global Management LP bought a new stake in shares of Valley National Bancorp in the 4th quarter valued at $20,838,000. Basswood Capital Management L.L.C. acquired a new stake in Valley National Bancorp during the 3rd quarter worth $19,399,000. Bank of New York Mellon Corp lifted its holdings in Valley National Bancorp by 27.8% during the fourth quarter. Bank of New York Mellon Corp now owns 6,101,280 shares of the company’s stock worth $55,278,000 after acquiring an additional 1,327,829 shares in the last quarter. Finally, PL Capital Advisors LLC grew its stake in Valley National Bancorp by 806.0% in the fourth quarter. PL Capital Advisors LLC now owns 906,000 shares of the company’s stock valued at $8,208,000 after acquiring an additional 806,000 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Valley National Bancorp Trading Down 0.5 %

NASDAQ VLY opened at $9.11 on Wednesday. The company has a market cap of $5.10 billion, a PE ratio of 13.20 and a beta of 1.11. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.10. The stock has a 50 day moving average of $9.60 and a 200-day moving average of $9.50. 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 issued its earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the company earned $0.22 earnings per share. On average, equities research analysts anticipate that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 4.83%. Valley National Bancorp’s dividend payout ratio (DPR) is 63.77%.

Insider Activity

In other news, EVP Joseph Chillura sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total value of $510,500.00. Following the transaction, the executive vice president now 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.88% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on VLY. Stephens reiterated an “overweight” rating and set a $12.50 price objective on shares of Valley National Bancorp in a report on Thursday, January 2nd. 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. Citigroup upped their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Barclays lifted their price target on Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, Piper Sandler upgraded Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 price objective for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Valley National Bancorp presently has a consensus rating of “Hold” and an average price target of $10.78.

About Valley National Bancorp

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.