Allworth Financial LP Has $574,000 Stake in Valley National Bancorp (NASDAQ:VLY)

Allworth Financial LP increased its position in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 24,183.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,524 shares of the company's stock after acquiring an additional 58,283 shares during the quarter. Allworth Financial LP's holdings in Valley National Bancorp were worth $574,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new position in shares of Valley National Bancorp during the 3rd quarter valued at about $25,000. R Squared Ltd acquired a new stake in Valley National Bancorp during the 4th quarter worth approximately $25,000. Blue Trust Inc. lifted its stake in Valley National Bancorp by 48.2% in the third quarter. Blue Trust Inc. now owns 4,809 shares of the company's stock valued at $44,000 after buying an additional 1,564 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Valley National Bancorp by 557.0% in the third quarter. International Assets Investment Management LLC now owns 8,679 shares of the company's stock valued at $79,000 after buying an additional 7,358 shares during the period. Finally, Greenwich Wealth Management LLC bought a new stake in shares of Valley National Bancorp during the third quarter worth $95,000. Institutional investors and hedge funds own 61.00% of the company's stock.

Insider Buying and Selling

In related news, EVP Joseph Chillura sold 50,000 shares of the company's stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $10.21, for a total value of $510,500.00. Following the transaction, the executive vice president now owns 495,249 shares in the company, valued at approximately $5,056,492.29. This represents a 9.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.88% of the stock is owned by insiders.

Valley National Bancorp Stock Performance

VLY stock traded down $0.31 during trading hours on Friday, reaching $9.53. The stock had a trading volume of 8,110,779 shares, compared to its average volume of 8,600,841. The stock has a 50-day simple moving average of $9.63 and a 200 day simple moving average of $9.35. Valley National Bancorp has a fifty-two week low of $6.47 and a fifty-two week high of $11.10. The stock has a market capitalization of $4.85 billion, a PE ratio of 13.81 and a beta of 1.12. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.98 and a quick ratio of 0.98.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). Valley National Bancorp had a net margin of 10.62% and a return on equity of 5.14%. During the same quarter last year, the company earned $0.22 earnings per share. Analysts predict that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.11 per share. The ex-dividend date is Friday, March 14th. This represents a $0.44 annualized dividend and a dividend yield of 4.62%. Valley National Bancorp's dividend payout ratio is currently 63.77%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wedbush reaffirmed a "neutral" rating and issued a $10.00 price objective on shares of Valley National Bancorp in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on Valley National Bancorp from $10.50 to $11.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Citigroup upped their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Piper Sandler lifted their target price on Valley National Bancorp from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday, October 25th. Finally, Barclays upped their price target on Valley National Bancorp from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $10.67.

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.