Prudential Financial Inc. Has $7.13 Million Stock Holdings in Valley National Bancorp $VLY

Prudential Financial Inc. trimmed its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 39.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 798,346 shares of the company’s stock after selling 514,147 shares during the period. Prudential Financial Inc.’s holdings in Valley National Bancorp were worth $7,129,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in Valley National Bancorp by 4.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 30,040,885 shares of the company’s stock worth $267,054,000 after buying an additional 1,377,676 shares during the period. Geode Capital Management LLC increased its position in shares of Valley National Bancorp by 4.1% in the second quarter. Geode Capital Management LLC now owns 12,791,712 shares of the company’s stock worth $114,242,000 after acquiring an additional 499,647 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Valley National Bancorp by 101.5% in the first quarter. AQR Capital Management LLC now owns 10,218,329 shares of the company’s stock worth $89,308,000 after acquiring an additional 5,147,786 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Valley National Bancorp by 43.4% during the first quarter. Goldman Sachs Group Inc. now owns 10,214,867 shares of the company’s stock valued at $90,810,000 after acquiring an additional 3,091,169 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Valley National Bancorp by 2.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 7,817,098 shares of the company’s stock valued at $69,494,000 after acquiring an additional 204,942 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Cantor Fitzgerald raised their price objective on shares of Valley National Bancorp from $12.00 to $15.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Hovde Group started coverage on Valley National Bancorp in a research report on Wednesday, September 10th. They issued an “outperform” rating and a $12.50 target price for the company. Barclays reiterated a “positive” rating on shares of Valley National Bancorp in a report on Wednesday, October 8th. National Bankshares set a $15.00 price objective on Valley National Bancorp in a research note on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Valley National Bancorp in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $13.25.

Valley National Bancorp Stock Down 0.2%

VLY opened at $11.33 on Friday. The company has a market capitalization of $6.32 billion, a PE ratio of 12.88 and a beta of 1.17. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.97 and a quick ratio of 0.97. Valley National Bancorp has a fifty-two week low of $7.48 and a fifty-two week high of $11.51. The business has a 50-day moving average of $10.75 and a 200-day moving average of $9.95.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.26 by $0.02. Valley National Bancorp had a return on equity of 6.67% and a net margin of 14.86%.The business had revenue of $511.08 million during the quarter, compared to analysts’ expectations of $511.47 million. During the same quarter in the previous year, the business posted $0.18 EPS. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. Equities research analysts forecast that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be paid a dividend of $0.11 per share. The ex-dividend date is Monday, December 15th. This represents a $0.44 annualized dividend and a dividend yield of 3.9%. Valley National Bancorp’s dividend payout ratio is 50.00%.

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.