Sei Investments Co. Has $3.23 Million Stake in Valley National Bancorp (NASDAQ:VLY)

Sei Investments Co. cut its stake in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 34.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 356,219 shares of the company's stock after selling 185,965 shares during the period. Sei Investments Co. owned 0.07% of Valley National Bancorp worth $3,227,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. R Squared Ltd bought a new position in shares of Valley National Bancorp during the fourth quarter worth approximately $25,000. Sapient Capital LLC acquired a new stake in Valley National Bancorp during the fourth quarter worth approximately $103,000. Empowered Funds LLC increased 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 acquiring an additional 1,371 shares during the period. Townsquare Capital LLC raised its holdings in Valley National Bancorp by 11.8% in the 3rd quarter. Townsquare Capital LLC now owns 14,365 shares of the company's stock valued at $130,000 after acquiring an additional 1,521 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co bought a new stake in shares of Valley National Bancorp during the 3rd quarter valued at $154,000. Institutional investors own 61.00% of the company's stock.

Insider Activity at Valley National Bancorp

In related news, EVP Joseph Chillura sold 50,000 shares of the 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 directly owns 495,249 shares in the company, valued at $5,056,492.29. This represents a 9.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.88% of the stock is owned by company insiders.

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Valley National Bancorp Price Performance

Shares of NASDAQ VLY traded down $0.15 during midday trading on Tuesday, reaching $7.96. 18,278,538 shares of the company were exchanged, compared to its average volume of 6,880,960. The stock's 50-day moving average price is $9.31 and its 200-day moving average price is $9.49. The stock has a market cap of $4.46 billion, a P/E ratio of 11.54 and a beta of 1.06. 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 one year low of $6.47 and a one year high of $11.10.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.13 earnings per share 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 in the prior year, the business posted $0.22 EPS. On average, sell-side analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 5.53%. The ex-dividend date of this dividend was Friday, March 14th. Valley National Bancorp's dividend payout ratio is currently 63.77%.

Analysts Set New Price Targets

A number of research analysts recently commented on VLY shares. Barclays decreased their price target on Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Citigroup raised their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Piper Sandler raised shares of Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price target for the company in a report on Monday, March 24th. StockNews.com lowered shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday, April 3rd. Finally, Royal Bank of Canada boosted their price objective 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. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $10.67.

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.