Financial Engines Advisors L.L.C. Invests $104,000 in Valley National Bancorp (NASDAQ:VLY)

Financial Engines Advisors L.L.C. acquired a new stake in shares of Valley National Bancorp (NASDAQ:VLY) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 11,482 shares of the company’s stock, valued at approximately $104,000.

A number of other large investors have also added to or reduced their stakes in VLY. Meiji Yasuda Asset Management Co Ltd. increased its stake in Valley National Bancorp by 9.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company’s stock valued at $104,000 after purchasing an additional 1,002 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Valley National Bancorp by 80.2% during the fourth quarter. Prudential Financial Inc. now owns 536,633 shares of the company’s stock valued at $4,862,000 after acquiring an additional 238,890 shares in the last quarter. Corebridge Financial Inc. raised its holdings in Valley National Bancorp by 4.5% in the 4th quarter. Corebridge Financial Inc. now owns 766,535 shares of the company’s stock worth $6,945,000 after acquiring an additional 33,125 shares during the last quarter. United Services Automobile Association lifted its position in Valley National Bancorp by 3.7% in the 4th quarter. United Services Automobile Association now owns 28,702 shares of the company’s stock valued at $260,000 after acquiring an additional 1,029 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake 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 valued at $453,020,000 after purchasing an additional 4,204,651 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Trading Down 2.2 %

NASDAQ:VLY opened at $8.78 on Friday. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.10. The business has a fifty day moving average price of $9.56 and a 200-day moving average price of $9.50. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 12.72 and a beta of 1.11. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.98 and a quick ratio of 0.98.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly 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 period in the prior year, the business posted $0.22 EPS. Sell-side analysts forecast that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend is Friday, March 14th. Valley National Bancorp’s dividend payout ratio is 63.77%.

Insiders Place Their Bets

In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 495,249 shares in the company, valued at approximately $5,056,492.29. This represents a 9.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.88% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on VLY shares. Stephens restated an “overweight” rating and issued a $12.50 price target on shares of Valley National Bancorp in a research note on Thursday, January 2nd. JPMorgan Chase & Co. raised their price target on shares of Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Barclays boosted their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Royal Bank of Canada raised their target price on shares of Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Finally, Piper Sandler raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 price target on the stock in a report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Valley National Bancorp presently has an average rating of “Hold” and an average target price of $10.78.

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.