Valley National Bancorp (NASDAQ:VLY) Shares Up 4.2%

Valley National Bancorp (NASDAQ:VLY - Get Free Report) shares shot up 4.2% on Friday . The company traded as high as $7.02 and last traded at $7.02. 5,663,837 shares changed hands during trading, a decline of 2% from the average session volume of 5,773,318 shares. The stock had previously closed at $6.74.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VLY. TheStreet downgraded shares of Valley National Bancorp from a "b-" rating to a "c+" rating in a research note on Tuesday, February 27th. Citigroup decreased their price objective on Valley National Bancorp from $11.00 to $8.50 and set a "neutral" rating for the company in a report on Wednesday, March 13th. Wedbush reiterated a "neutral" rating and set a $8.00 target price on shares of Valley National Bancorp in a report on Wednesday, May 22nd. StockNews.com upgraded shares of Valley National Bancorp from a "sell" rating to a "hold" rating in a report on Friday, May 17th. Finally, Barclays initiated coverage on shares of Valley National Bancorp in a research note on Friday, March 8th. They set an "underweight" rating and a $8.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $8.89.

Valley National Bancorp Price Performance

The stock's 50 day simple moving average is $7.47 and its 200-day simple moving average is $8.65. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 8.18 and a beta of 1.10.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its earnings results on Thursday, April 25th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). The firm had revenue of $890.07 million during the quarter, compared to analysts' expectations of $447.38 million. Valley National Bancorp had a return on equity of 7.74% and a net margin of 12.88%. During the same quarter last year, the business earned $0.30 EPS. Equities research analysts anticipate that Valley National Bancorp will post 0.87 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Thursday, June 13th will be given a $0.11 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.44 dividend on an annualized basis and a yield of 6.33%. Valley National Bancorp's dividend payout ratio is currently 51.76%.

Insider Buying and Selling

In other Valley National Bancorp news, EVP Joseph Chillura sold 49,715 shares of Valley National Bancorp stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $8.18, for a total transaction of $406,668.70. Following the completion of the sale, the executive vice president now directly owns 545,249 shares in the company, valued at approximately $4,460,136.82. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Andrew B. Abramson sold 16,451 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $7.72, for a total transaction of $127,001.72. Following the sale, the director now directly owns 224,679 shares of the company's stock, valued at $1,734,521.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph Chillura sold 49,715 shares of the firm's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $8.18, for a total transaction of $406,668.70. Following the sale, the executive vice president now owns 545,249 shares in the company, valued at approximately $4,460,136.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,166 shares of company stock worth $719,420. 1.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Valley National Bancorp

A number of institutional investors have recently modified their holdings of VLY. Xponance Inc. boosted its position in Valley National Bancorp by 2.1% during the fourth quarter. Xponance Inc. now owns 62,924 shares of the company's stock worth $683,000 after purchasing an additional 1,286 shares in the last quarter. Retirement Systems of Alabama grew its stake in Valley National Bancorp by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 535,546 shares of the company's stock valued at $4,263,000 after acquiring an additional 1,435 shares during the period. Resources Management Corp CT ADV grew its stake in Valley National Bancorp by 5.5% in the 3rd quarter. Resources Management Corp CT ADV now owns 36,200 shares of the company's stock valued at $310,000 after acquiring an additional 1,900 shares during the period. Strs Ohio increased its holdings in Valley National Bancorp by 5.4% in the 4th quarter. Strs Ohio now owns 38,800 shares of the company's stock worth $421,000 after acquiring an additional 2,000 shares in the last quarter. Finally, United Services Automobile Association lifted its holdings in Valley National Bancorp by 8.5% during the third quarter. United Services Automobile Association now owns 31,670 shares of the company's stock valued at $271,000 after purchasing an additional 2,470 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Valley National Bancorp Company 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.