Delta Financial Group Inc. Makes New Investment in Valley National Bancorp (NASDAQ:VLY)

Delta Financial Group Inc. purchased a new stake in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 32,295 shares of the company's stock, valued at approximately $293,000.

Several other institutional investors also recently modified their holdings of the business. Harbor Capital Advisors Inc. bought a new position in Valley National Bancorp during the third quarter valued at approximately $25,000. R Squared Ltd purchased a new stake in Valley National Bancorp during the fourth quarter valued at $25,000. Blue Trust Inc. boosted its position in Valley National Bancorp by 48.2% in the third quarter. Blue Trust Inc. now owns 4,809 shares of the company's stock worth $44,000 after purchasing an additional 1,564 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Valley National Bancorp by 557.0% during the 3rd quarter. International Assets Investment Management LLC now owns 8,679 shares of the company's stock valued at $79,000 after purchasing an additional 7,358 shares during the last quarter. Finally, Greenwich Wealth Management LLC bought a new position in shares of Valley National Bancorp in the 3rd quarter worth approximately $95,000. 61.00% of the stock is owned by hedge funds and other institutional investors.

Valley National Bancorp Price Performance

VLY traded up $0.01 during trading on Thursday, reaching $9.59. 11,736,442 shares of the company traded hands, compared to its average volume of 8,655,646. Valley National Bancorp has a 12-month low of $6.47 and a 12-month high of $11.10. The firm has a fifty day simple moving average of $9.61 and a 200 day simple moving average of $9.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $4.88 billion, a P/E ratio of 13.90 and a beta of 1.12.

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Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 in the prior year, the company earned $0.22 earnings per share. On average, equities analysts forecast that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend is Friday, March 14th. Valley National Bancorp's payout ratio is presently 63.77%.

Insider Buying and Selling at Valley National Bancorp

In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of the stock in a transaction on Wednesday, January 29th. The shares were 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 $5,056,492.29. This trade represents a 9.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.88% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on VLY shares. JPMorgan Chase & Co. raised their target price on Valley National Bancorp from $10.50 to $11.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Stephens reaffirmed an "overweight" rating and issued a $12.50 price objective on shares of Valley National Bancorp in a research note on Thursday, January 2nd. StockNews.com downgraded Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Tuesday, November 19th. Barclays increased their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Finally, Citigroup lifted their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $10.67.

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.