American Century Companies Inc. Has $65.09 Million Stock Position in Valley National Bancorp $VLY

American Century Companies Inc. reduced its stake in Valley National Bancorp (NASDAQ:VLY) by 1.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 6,140,160 shares of the company’s stock after selling 99,016 shares during the quarter. American Century Companies Inc.’s holdings in Valley National Bancorp were worth $65,086,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Atlantic Union Bankshares Corp bought a new position in shares of Valley National Bancorp during the 2nd quarter worth approximately $39,000. Hantz Financial Services Inc. lifted its holdings in shares of Valley National Bancorp by 11,831.1% during the second quarter. Hantz Financial Services Inc. now owns 5,369 shares of the company’s stock valued at $48,000 after acquiring an additional 5,324 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Valley National Bancorp by 77.4% during the third quarter. Smartleaf Asset Management LLC now owns 4,574 shares of the company’s stock valued at $48,000 after acquiring an additional 1,996 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Valley National Bancorp by 244.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,884 shares of the company’s stock valued at $53,000 after purchasing an additional 4,177 shares in the last quarter. Finally, Vident Advisory LLC bought a new stake in shares of Valley National Bancorp in the 2nd quarter worth about $93,000. 61.00% of the stock is owned by institutional investors and hedge funds.

Valley National Bancorp Stock Up 0.2%

Shares of VLY opened at $12.58 on Thursday. The business’s fifty day moving average price is $12.55 and its two-hundred day moving average price is $11.46. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of 12.46 and a beta of 1.07. Valley National Bancorp has a 52 week low of $7.48 and a 52 week high of $13.87. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.97 and a current ratio of 0.97.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $524.31 million. Valley National Bancorp had a return on equity of 7.92% and a net margin of 17.11%.The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 earnings per share. On average, analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.44 dividend on an annualized basis and a yield of 3.5%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 43.56%.

Insider Buying and Selling

In other Valley National Bancorp news, Director Carlos J. Vazquez bought 2,500 shares of the stock in a transaction on Tuesday, February 17th. The stock was purchased at an average price of $13.45 per share, with a total value of $33,625.00. Following the acquisition, the director owned 4,252 shares of the company’s stock, valued at approximately $57,189.40. The trade was a 142.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on VLY shares. Citigroup reiterated a “buy” rating on shares of Valley National Bancorp in a research report on Monday, February 2nd. Morgan Stanley upped their price objective on shares of Valley National Bancorp from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday. Cantor Fitzgerald lifted their target price on shares of Valley National Bancorp from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Tuesday. Raymond James Financial raised Valley National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $15.00 target price on the stock in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. increased their price target on Valley National Bancorp from $14.00 to $14.50 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Valley National Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $14.40.

Valley National Bancorp Company Profile

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.