Valley National Bancorp (NASDAQ:VLY - Get Free Report) 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 value of $510,500.00. Following the transaction, the executive vice president now directly owns 495,249 shares of the company's stock, valued at $5,056,492.29. This represents a 9.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Valley National Bancorp Stock Performance
NASDAQ VLY traded up $0.29 during trading hours on Tuesday, hitting $10.34. 8,813,994 shares of the company's stock traded hands, compared to its average volume of 9,251,272. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.10. The firm has a market capitalization of $5.27 billion, a P/E ratio of 14.99 and a beta of 1.12. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46. The business's fifty day moving average price is $9.72 and its two-hundred day moving average price is $9.20.
Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate 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 in the previous year, the firm posted $0.22 EPS. Equities research analysts predict that Valley National Bancorp will post 0.99 EPS for the current year.
Valley National Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date was Friday, December 13th. Valley National Bancorp's payout ratio is 63.77%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on VLY shares. Barclays lifted their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. StockNews.com cut Valley National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. upped their target price 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. Royal Bank of Canada raised their price target on shares of Valley National Bancorp from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Finally, Stephens reissued an "overweight" rating and set a $12.50 price objective on shares of Valley National Bancorp in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $10.67.
Read Our Latest Analysis on Valley National Bancorp
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. bought a new stake in Valley National Bancorp during the 3rd quarter worth approximately $25,000. R Squared Ltd purchased a new position in shares of Valley National Bancorp during the 4th quarter valued at $25,000. Blue Trust Inc. boosted its holdings in Valley National Bancorp by 48.2% in the 3rd quarter. Blue Trust Inc. now owns 4,809 shares of the company's stock worth $44,000 after buying an additional 1,564 shares during the period. Hexagon Capital Partners LLC increased its stake in Valley National Bancorp by 416.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 6,201 shares of the company's stock worth $56,000 after buying an additional 5,001 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Valley National Bancorp by 46.4% in the 3rd quarter. GAMMA Investing LLC now owns 6,791 shares of the company's stock worth $62,000 after buying an additional 2,151 shares in the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.
Valley National Bancorp Company Profile
(
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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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