249,521 Shares in Valley National Bancorp (NASDAQ:VLY) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in Valley National Bancorp (NASDAQ:VLY - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 249,521 shares of the company's stock, valued at approximately $2,261,000.

A number of other institutional investors have also modified their holdings of the business. R Squared Ltd acquired a new stake in Valley National Bancorp in the fourth quarter worth $25,000. Sapient Capital LLC acquired a new stake in shares of Valley National Bancorp in the 4th quarter worth about $103,000. Empowered Funds LLC lifted its position in Valley National Bancorp by 12.0% in the 4th quarter. Empowered Funds LLC now owns 12,812 shares of the company's stock valued at $116,000 after purchasing an additional 1,371 shares during the last quarter. Townsquare Capital LLC boosted its stake in Valley National Bancorp by 11.8% during the 3rd quarter. Townsquare Capital LLC now owns 14,365 shares of the company's stock valued at $130,000 after purchasing an additional 1,521 shares during the period. Finally, Pine Valley Investments Ltd Liability Co acquired a new position in Valley National Bancorp during the 3rd quarter valued at about $154,000. Institutional investors own 61.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup boosted their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Barclays boosted their price target 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. Royal Bank of Canada raised their price target on Valley National Bancorp from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, January 24th. JPMorgan Chase & Co. upped their price objective on shares of Valley National Bancorp from $10.50 to $11.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Finally, Stephens reissued an "overweight" rating and set a $12.50 target price on shares of Valley National Bancorp in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $10.78.

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Valley National Bancorp Price Performance

Valley National Bancorp stock traded down $0.84 during mid-day trading on Thursday, hitting $8.22. The company's stock had a trading volume of 916,009 shares, compared to its average volume of 8,296,347. The stock has a market capitalization of $4.60 billion, a P/E ratio of 11.92 and a beta of 1.11. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10. The stock's fifty day moving average price is $9.52 and its two-hundred day moving average price is $9.52. 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 (NASDAQ:VLY - Get Free Report) last issued its earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share (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 period last year, the firm earned $0.22 earnings per share. Research analysts forecast that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The company also recently announced 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 dividend yield of 5.35%. The ex-dividend date of this dividend was Friday, March 14th. Valley National Bancorp's payout ratio is 63.77%.

Insider Transactions at Valley National Bancorp

In other news, EVP Joseph Chillura sold 50,000 shares of the firm's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total value of $510,500.00. Following the completion of the sale, the executive vice president now owns 495,249 shares of the company's stock, valued at $5,056,492.29. This trade represents a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.88% of the stock is currently owned by insiders.

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.