Retirement Systems of Alabama Has $5.80 Million Holdings in Valley National Bancorp (NASDAQ:VLY)

Retirement Systems of Alabama raised its holdings in Valley National Bancorp (NASDAQ:VLY) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 534,111 shares of the company’s stock after buying an additional 1,686 shares during the quarter. Retirement Systems of Alabama owned 0.11% of Valley National Bancorp worth $5,800,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in VLY. GAMMA Investing LLC acquired a new position in shares of Valley National Bancorp during the fourth quarter worth approximately $35,000. Wolverine Asset Management LLC acquired a new position in shares of Valley National Bancorp during the fourth quarter worth approximately $40,000. Stratos Wealth Partners LTD. acquired a new position in shares of Valley National Bancorp during the third quarter worth approximately $93,000. Jump Financial LLC acquired a new position in shares of Valley National Bancorp during the third quarter worth approximately $93,000. Finally, Cable Hill Partners LLC acquired a new position in shares of Valley National Bancorp during the third quarter worth approximately $130,000. 61.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VLY has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their target price on Valley National Bancorp from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, April 4th. Keefe, Bruyette & Woods decreased their price target on Valley National Bancorp from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, January 26th. Royal Bank of Canada decreased their price target on Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday, April 9th. Wedbush decreased their price target on Valley National Bancorp from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Finally, StockNews.com downgraded Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Friday, February 16th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Valley National Bancorp has a consensus rating of “Hold” and a consensus target price of $9.33.

Valley National Bancorp Stock Up 3.1 %

Shares of NASDAQ:VLY opened at $7.73 on Monday. The company has a market capitalization of $3.93 billion, a PE ratio of 9.09 and a beta of 1.10. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.00 and a quick ratio of 1.00. The business has a fifty day moving average price of $7.71 and a two-hundred day moving average price of $8.78. Valley National Bancorp has a 1 year low of $6.39 and a 1 year high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). Valley National Bancorp had a net margin of 12.88% and a return on equity of 7.74%. The business had revenue of $890.07 million during the quarter, compared to the consensus estimate of $447.38 million. During the same quarter last year, the company earned $0.30 EPS. Analysts forecast that Valley National Bancorp will post 0.9 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Thursday, March 14th were given a dividend of $0.11 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.69%. Valley National Bancorp’s dividend payout ratio is presently 51.76%.

Insider Activity

In other news, EVP Joseph Chillura sold 49,715 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $8.18, for a total transaction of $406,668.70. Following the transaction, the executive vice president now owns 545,249 shares of the company’s stock, valued at approximately $4,460,136.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.88% of the company’s stock.

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.