Nordea Investment Management AB grew its stake in shares of Valley National Bancorp (NYSE:VLY) by 3.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 375,500 shares of the financial services provider’s stock after acquiring an additional 12,200 shares during the period. Nordea Investment Management AB owned about 0.11% of Valley National Bancorp worth $3,594,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in Valley National Bancorp in the fourth quarter worth approximately $30,297,000. Dimensional Fund Advisors LP raised its stake in Valley National Bancorp by 11.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 14,333,186 shares of the financial services provider’s stock worth $127,279,000 after buying an additional 1,515,954 shares in the last quarter. BlackRock Inc. raised its stake in Valley National Bancorp by 3.4% in the fourth quarter. BlackRock Inc. now owns 44,400,658 shares of the financial services provider’s stock worth $394,278,000 after buying an additional 1,465,653 shares in the last quarter. Macquarie Group Ltd. grew its holdings in Valley National Bancorp by 9.0% in the fourth quarter. Macquarie Group Ltd. now owns 10,605,241 shares of the financial services provider’s stock worth $94,175,000 after purchasing an additional 873,561 shares during the last quarter. Finally, Kennedy Capital Management Inc. purchased a new position in Valley National Bancorp in the first quarter worth $4,024,000. 55.94% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research lowered shares of Home Bancshares from a “hold” rating to a “sell” rating in a report on Friday, June 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.69.
Valley National Bancorp (NYSE:VLY) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $326.32 million for the quarter, compared to the consensus estimate of $253.23 million. During the same quarter last year, the firm posted $0.18 earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a $0.11 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.14%.
Valley National Bancorp Profile
Valley National Bancorp operates as the holding company for the Valley National Bank that provides commercial, retail, trust, and investment services. The company operates through Commercial Lending, Consumer Lending, and Investment Management segments. Its deposit products include non-interest bearing, savings, NOW, and money market deposits, as well as certificates of deposit.
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