Foundry Partners LLC Has $6.90 Million Holdings in Valley National Bancorp (NASDAQ:VLY)

Foundry Partners LLC increased its position in shares of Valley National Bancorp (NASDAQ:VLY) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 635,554 shares of the company’s stock after acquiring an additional 15,340 shares during the quarter. Foundry Partners LLC owned 0.13% of Valley National Bancorp worth $6,902,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in VLY. Wellington Management Group LLP raised its holdings in shares of Valley National Bancorp by 153.8% during the first quarter. Wellington Management Group LLP now owns 8,869,091 shares of the company’s stock valued at $115,476,000 after acquiring an additional 5,374,624 shares during the period. Victory Capital Management Inc. increased its stake in Valley National Bancorp by 2,232.2% in the 4th quarter. Victory Capital Management Inc. now owns 4,936,902 shares of the company’s stock valued at $55,836,000 after buying an additional 4,725,214 shares during the period. Norges Bank acquired a new position in Valley National Bancorp in the 4th quarter valued at approximately $47,062,000. State Street Corp increased its stake in Valley National Bancorp by 14.3% in the 2nd quarter. State Street Corp now owns 24,116,501 shares of the company’s stock valued at $189,346,000 after buying an additional 3,008,420 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Valley National Bancorp by 92.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,415,523 shares of the company’s stock valued at $34,220,000 after buying an additional 2,123,297 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Valley National Bancorp Stock Performance

Shares of NASDAQ VLY traded up $0.40 during trading hours on Friday, hitting $7.71. 8,523,616 shares of the stock were exchanged, compared to its average volume of 4,482,049. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99. The company’s 50 day moving average is $7.89 and its 200 day moving average is $8.84. The firm has a market capitalization of $3.92 billion, a P/E ratio of 8.12 and a beta of 1.09. Valley National Bancorp has a one year low of $6.39 and a one year high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings data on Thursday, January 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.03). The firm had revenue of $449.97 million for the quarter, compared to the consensus estimate of $467.49 million. Valley National Bancorp had a return on equity of 8.67% and a net margin of 14.82%. During the same period in the prior year, the company posted $0.35 earnings per share. On average, research analysts expect that Valley National Bancorp will post 0.93 EPS for the current year.

Valley National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Thursday, March 14th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 5.71%. The ex-dividend date of this dividend was Wednesday, March 13th. Valley National Bancorp’s dividend payout ratio is currently 46.32%.

Insider Buying and Selling

In related news, EVP Joseph Chillura sold 49,715 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $8.18, for a total transaction of $406,668.70. Following the completion of the sale, the executive vice president now directly owns 545,249 shares of the company’s stock, valued at approximately $4,460,136.82. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.88% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on VLY shares. Royal Bank of Canada dropped their price objective on shares of Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods dropped their price objective on shares of Valley National Bancorp from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, January 26th. TheStreet lowered shares of Valley National Bancorp from a “b-” rating to a “c+” rating in a research note on Tuesday, February 27th. Wedbush decreased their target price on shares of Valley National Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Friday, January 26th. Finally, StockNews.com downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, February 16th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.67.

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.