Valley National Bancorp (NASDAQ:VLY) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its position in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 38.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 73,529 shares of the company's stock after selling 46,901 shares during the quarter. Corient Private Wealth LLC's holdings in Valley National Bancorp were worth $666,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in shares of Valley National Bancorp by 2.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 48,118 shares of the company's stock worth $436,000 after purchasing an additional 1,046 shares during the period. Empowered Funds LLC increased its position in Valley National Bancorp by 12.0% in the fourth quarter. Empowered Funds LLC now owns 12,812 shares of the company's stock worth $116,000 after buying an additional 1,371 shares in the last quarter. Townsquare Capital LLC raised its stake in shares of Valley National Bancorp by 11.8% in the third quarter. Townsquare Capital LLC now owns 14,365 shares of the company's stock worth $130,000 after buying an additional 1,521 shares during the period. New York State Teachers Retirement System lifted its position in shares of Valley National Bancorp by 0.6% during the 4th quarter. New York State Teachers Retirement System now owns 283,222 shares of the company's stock valued at $2,566,000 after buying an additional 1,683 shares in the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of Valley National Bancorp by 6.0% during the 3rd quarter. HighTower Advisors LLC now owns 31,831 shares of the company's stock valued at $291,000 after acquiring an additional 1,806 shares during the period. 61.00% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at Valley National Bancorp

In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of Valley National Bancorp stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total transaction of $510,500.00. Following the completion of the transaction, the executive vice president now owns 495,249 shares in the company, valued at approximately $5,056,492.29. This trade represents a 9.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.88% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Valley National Bancorp from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Citigroup upped their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. Piper Sandler raised Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price target on the stock in a report on Monday, March 24th. Barclays upped their price objective on 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, Stephens reissued an "overweight" rating and set a $12.50 target price on shares of Valley National Bancorp in a research note on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $10.78.

Valley National Bancorp Trading Up 0.1 %

Shares of NASDAQ VLY traded up $0.01 during trading hours on Wednesday, reaching $8.90. The stock had a trading volume of 721,827 shares, compared to its average volume of 6,609,894. The business's fifty day moving average price is $9.53 and its two-hundred day moving average price is $9.53. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 12.92 and a beta of 1.11. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.13 earnings per share 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 period in the prior year, the company earned $0.22 earnings per share. Analysts expect that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 annualized dividend and a yield of 4.94%. Valley National Bancorp's dividend payout ratio (DPR) is 63.77%.

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.