Farringdon Capital Ltd. Acquires New Stake in Valley National Bancorp (NASDAQ:VLY)

Farringdon Capital Ltd. bought a new position in Valley National Bancorp (NASDAQ:VLY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 37,260 shares of the company's stock, valued at approximately $338,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. R Squared Ltd purchased a new position in Valley National Bancorp during the 4th quarter worth $25,000. CreativeOne Wealth LLC bought a new stake in shares of Valley National Bancorp in the fourth quarter valued at about $102,000. Sapient Capital LLC purchased a new stake in Valley National Bancorp in the fourth quarter worth about $103,000. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Valley National Bancorp by 9.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company's stock worth $104,000 after acquiring an additional 1,002 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. bought a new position in Valley National Bancorp during the 4th quarter worth about $104,000. 61.00% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Joseph Chillura sold 50,000 shares of the firm'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 owns 495,249 shares in the company, valued at approximately $5,056,492.29. This trade represents a 9.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.88% of the stock is owned by insiders.

Valley National Bancorp Stock Performance

Shares of VLY stock opened at $8.25 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.98 and a quick ratio of 0.98. The business has a fifty day moving average of $8.94 and a 200 day moving average of $9.44. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of 11.96 and a beta of 1.06. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.10.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its 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 net margin of 10.62% and a return on equity of 5.14%. During the same period in the previous year, the business posted $0.22 earnings per share. As a group, research analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 5.33%. The ex-dividend date of this dividend was Friday, March 14th. Valley National Bancorp's payout ratio is 63.77%.

Analyst Ratings Changes

A number of research firms have recently issued reports on VLY. Barclays dropped their price objective on shares of Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Stephens reiterated an "overweight" rating and issued a $12.50 target price on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Royal Bank of Canada increased their price target on shares of Valley National Bancorp from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. StockNews.com lowered shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, April 12th. Finally, Piper Sandler upgraded shares of Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 target price for the company in a research note on Monday, March 24th. One equities research 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $10.67.

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.

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