Inceptionr LLC purchased a new position in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 95,240 shares of the company's stock, valued at approximately $863,000.
Other large investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new stake in Valley National Bancorp during the 3rd quarter worth $25,000. R Squared Ltd acquired a new stake in Valley National Bancorp during the 4th quarter worth $25,000. International Assets Investment Management LLC boosted its stake in 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 worth $79,000 after purchasing an additional 7,358 shares during the period. Sapient Capital LLC acquired a new stake in Valley National Bancorp during the 4th quarter worth $103,000. Finally, Empowered Funds LLC boosted its stake in 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 purchasing an additional 1,371 shares during the period. Institutional investors and hedge funds own 61.00% of the company's stock.
Valley National Bancorp Price Performance
Shares of NASDAQ VLY traded down $0.01 during midday trading on Friday, hitting $8.98. The company had a trading volume of 8,510,289 shares, compared to its average volume of 8,687,098. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10. The business has a 50-day simple moving average of $9.63 and a two-hundred day simple moving average of $9.48. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 13.01 and a beta of 1.11.
Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.13 EPS 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 quarter last year, the firm posted $0.22 earnings per share. Equities research analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current year.
Valley National Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend is Friday, March 14th. Valley National Bancorp's dividend payout ratio (DPR) is 63.77%.
Insider Activity at Valley National Bancorp
In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of the firm'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 transaction, the executive vice president now directly 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 1.88% of the company's stock.
Wall Street Analyst Weigh In
VLY has been the subject of a number of recent research reports. Citigroup increased their price target 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. Barclays raised 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 research note on Thursday, December 5th. Stephens restated an "overweight" rating and issued a $12.50 target price on shares of Valley National Bancorp in a research note on Thursday, January 2nd. JPMorgan Chase & Co. raised their target price on shares of Valley National Bancorp from $10.50 to $11.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Finally, Royal Bank of Canada raised their target price on shares of Valley National Bancorp from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $10.67.
Read Our Latest Research Report on VLY
Valley National Bancorp Profile
(
Free Report)
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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