Valley National Bancorp (NASDAQ:VLY) Stock Holdings Cut by Endeavour Capital Advisors Inc.

Endeavour Capital Advisors Inc. decreased its stake in Valley National Bancorp (NASDAQ:VLY - Free Report) by 9.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,186,860 shares of the company's stock after selling 125,843 shares during the period. Valley National Bancorp accounts for approximately 3.4% of Endeavour Capital Advisors Inc.'s holdings, making the stock its 9th largest position. Endeavour Capital Advisors Inc. owned approximately 0.23% of Valley National Bancorp worth $10,753,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in VLY. R Squared Ltd acquired a new stake in shares of Valley National Bancorp during the 4th quarter worth about $25,000. Sapient Capital LLC acquired a new position in shares of Valley National Bancorp in the 4th quarter valued at approximately $103,000. Meiji Yasuda Asset Management Co Ltd. increased its stake in Valley National Bancorp by 9.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company's stock valued at $104,000 after acquiring an additional 1,002 shares during the last quarter. Financial Engines Advisors L.L.C. bought a new stake in Valley National Bancorp during the fourth quarter worth $104,000. Finally, Empowered Funds LLC raised its holdings in shares of Valley National Bancorp by 12.0% during the 4th 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. Institutional investors and hedge funds own 61.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on VLY shares. JPMorgan Chase & Co. raised their price target 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. Citigroup boosted their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Piper Sandler upgraded Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price target for the company in a research note on Monday, March 24th. Barclays boosted their price objective 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. Finally, Royal Bank of Canada increased their target price on Valley National Bancorp from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $10.78.

Remove Ads

Insider Transactions at Valley National Bancorp

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

Valley National Bancorp Trading Down 10.6 %

VLY stock traded down $0.96 during mid-day trading on Thursday, reaching $8.10. The company's stock had a trading volume of 10,075,415 shares, compared to its average volume of 6,673,352. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 11.74 and a beta of 1.11. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.10. The business's 50 day moving average price is $9.48 and its 200 day moving average price is $9.51. 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 posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates 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 last year, the firm earned $0.22 earnings per share. On average, equities research analysts predict that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.11 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 5.43%. Valley National Bancorp's dividend payout ratio (DPR) is presently 63.77%.

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.