Elizabeth Park Capital Advisors Ltd. Has $3.39 Million Stake in Valley National Bancorp (NASDAQ:VLY)

Elizabeth Park Capital Advisors Ltd. raised its holdings in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 10.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 373,935 shares of the company's stock after purchasing an additional 36,500 shares during the period. Valley National Bancorp accounts for approximately 2.8% of Elizabeth Park Capital Advisors Ltd.'s holdings, making the stock its 11th biggest holding. Elizabeth Park Capital Advisors Ltd. owned about 0.07% of Valley National Bancorp worth $3,388,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in VLY. Wellington Management Group LLP lifted its stake in Valley National Bancorp by 90.2% in the fourth quarter. Wellington Management Group LLP now owns 17,059,328 shares of the company's stock valued at $154,558,000 after buying an additional 8,088,466 shares during the period. Vanguard Group Inc. increased its stake in shares of Valley National Bancorp by 9.2% in the 4th quarter. Vanguard Group Inc. now owns 50,002,161 shares of the company's stock valued at $453,020,000 after acquiring an additional 4,204,651 shares during the last quarter. Norges Bank acquired a new stake in shares of Valley National Bancorp in the 4th quarter valued at approximately $31,490,000. Burkehill Global Management LP bought a new position in Valley National Bancorp during the 4th quarter worth approximately $20,838,000. Finally, Bank of New York Mellon Corp grew its holdings in Valley National Bancorp by 27.8% during the fourth quarter. Bank of New York Mellon Corp now owns 6,101,280 shares of the company's stock valued at $55,278,000 after purchasing an additional 1,327,829 shares during the period. 61.00% of the stock is currently owned by institutional investors and hedge funds.

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Valley National Bancorp Stock Down 1.6 %

NASDAQ VLY traded down $0.13 during trading on Friday, hitting $7.91. The stock had a trading volume of 6,560,767 shares, compared to its average volume of 6,974,046. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.10. 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's 50-day moving average price is $9.20 and its two-hundred day moving average price is $9.48. The company has a market capitalization of $4.43 billion, a PE ratio of 11.26 and a beta of 1.06.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last posted its quarterly earnings data 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 last year, the company earned $0.22 earnings per share. As a group, sell-side analysts forecast that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.56%. Valley National Bancorp's dividend payout ratio is 63.77%.

Analysts Set New Price Targets

VLY has been the topic of several analyst reports. Stephens reiterated an "overweight" rating and issued a $12.50 target price on shares of Valley National Bancorp in a 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. JPMorgan Chase & Co. boosted their target price on Valley National Bancorp from $10.50 to $11.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Citigroup raised their price target 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. Finally, StockNews.com cut Valley National Bancorp from a "hold" rating to a "sell" rating in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $10.67.

Insider Activity

In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of the company's 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 sale, the executive vice president now directly owns 495,249 shares of the company's stock, valued at approximately $5,056,492.29. This represents a 9.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.88% of the stock is owned by corporate insiders.

Valley National Bancorp 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.