Bessemer Group Inc. Has $33,000 Position in Valley National Bancorp (NASDAQ:VLY)

Bessemer Group Inc. cut its position in shares of Valley National Bancorp (NASDAQ:VLY) by 72.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,660 shares of the company’s stock after selling 9,708 shares during the period. Bessemer Group Inc.’s holdings in Valley National Bancorp were worth $33,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of VLY. R Squared Ltd bought a new position in shares of Valley National Bancorp in the fourth quarter valued at about $25,000. Sapient Capital LLC bought a new position in Valley National Bancorp in the 4th quarter valued at about $103,000. Financial Engines Advisors L.L.C. acquired a new stake in Valley National Bancorp during the fourth quarter worth approximately $104,000. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Valley National Bancorp by 9.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company’s stock worth $104,000 after acquiring an additional 1,002 shares during the period. Finally, Empowered Funds LLC grew its position in shares of Valley National Bancorp by 12.0% in the fourth quarter. Empowered Funds LLC now owns 12,812 shares of the company’s stock valued at $116,000 after purchasing an additional 1,371 shares during the last quarter. 61.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on VLY shares. StockNews.com cut Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, April 12th. Royal Bank of Canada boosted their target price on shares of Valley National Bancorp from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. raised their price target on shares of Valley National Bancorp from $10.50 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Barclays cut their price objective on shares of Valley National Bancorp from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Finally, Piper Sandler raised shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 target price on the stock in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Valley National Bancorp has an average rating of “Hold” and a consensus target price of $10.67.

Insiders Place Their Bets

In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $10.21, for a total transaction of $510,500.00. Following the sale, the executive vice president now owns 495,249 shares of the company’s stock, valued at approximately $5,056,492.29. The trade was a 9.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.88% of the company’s stock.

Valley National Bancorp Stock Performance

Shares of Valley National Bancorp stock opened at $8.25 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46. The company has a market cap of $4.62 billion, a PE ratio of 11.96 and a beta of 1.06. The company has a 50 day moving average of $8.94 and a 200-day moving average of $9.44. Valley National Bancorp has a 1-year low of $6.47 and a 1-year high of $11.10.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. During the same period in the prior year, the firm earned $0.22 EPS. As a group, equities research analysts forecast that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date was Friday, March 14th. Valley National Bancorp’s dividend payout ratio is presently 63.77%.

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.