Burkehill Global Management LP Takes Position in Valley National Bancorp (NASDAQ:VLY)

Burkehill Global Management LP bought a new stake in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,300,000 shares of the company's stock, valued at approximately $20,838,000. Valley National Bancorp makes up approximately 2.0% of Burkehill Global Management LP's portfolio, making the stock its 14th largest position. Burkehill Global Management LP owned 0.45% of Valley National Bancorp at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in shares of Valley National Bancorp during the 4th quarter worth approximately $25,000. Sapient Capital LLC purchased a new stake in Valley National Bancorp during the fourth quarter valued at $103,000. Empowered Funds LLC raised its stake in Valley National Bancorp by 12.0% during 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 in the last quarter. Townsquare Capital LLC lifted its position in Valley National Bancorp by 11.8% during the third quarter. Townsquare Capital LLC now owns 14,365 shares of the company's stock valued at $130,000 after purchasing an additional 1,521 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Valley National Bancorp by 26.7% in the 3rd quarter. KBC Group NV now owns 14,450 shares of the company's stock worth $131,000 after buying an additional 3,041 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

Several analysts have recently issued reports on VLY shares. StockNews.com cut shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, November 19th. Stephens restated an "overweight" rating and set a $12.50 price objective on shares of Valley National Bancorp in a research report on Thursday, January 2nd. Royal Bank of Canada lifted their target price on Valley National Bancorp from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. Barclays raised their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Valley National Bancorp from $10.50 to $11.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Valley National Bancorp presently has an average rating of "Hold" and a consensus price target of $10.67.

Valley National Bancorp Stock Down 1.5 %

Shares of NASDAQ VLY traded down $0.13 during mid-day trading on Thursday, reaching $8.56. 7,187,971 shares of the company were exchanged, compared to its average volume of 8,653,037. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of 12.41 and a beta of 1.11. The firm has a 50-day moving average of $9.60 and a 200 day moving average of $9.47. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.13 EPS 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 quarter in the prior year, the business posted $0.22 EPS. On average, research analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 5.14%. The ex-dividend date is Friday, March 14th. Valley National Bancorp's dividend payout ratio is presently 63.77%.

Insider Activity

In related news, EVP Joseph Chillura sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total value of $510,500.00. Following the sale, the executive vice president now owns 495,249 shares in the company, valued at $5,056,492.29. This represents a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.88% of the company's stock.

Valley National Bancorp Company 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.