Thrivent Financial for Lutherans Lowers Stock Holdings in Valley National Bancorp (NASDAQ:VLY)

Thrivent Financial for Lutherans decreased its holdings in Valley National Bancorp (NASDAQ:VLY - Free Report) by 51.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,358 shares of the company's stock after selling 170,286 shares during the quarter. Thrivent Financial for Lutherans' holdings in Valley National Bancorp were worth $1,480,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Cerity Partners LLC raised its stake in Valley National Bancorp by 31.5% during the 3rd quarter. Cerity Partners LLC now owns 180,907 shares of the company's stock valued at $1,639,000 after acquiring an additional 43,364 shares during the last quarter. FMR LLC raised its stake in shares of Valley National Bancorp by 105.8% during the third quarter. FMR LLC now owns 32,146 shares of the company's stock worth $291,000 after purchasing an additional 16,529 shares during the last quarter. Townsquare Capital LLC lifted its holdings in shares of Valley National Bancorp by 11.8% during the third quarter. Townsquare Capital LLC now owns 14,365 shares of the company's stock worth $130,000 after purchasing an additional 1,521 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Valley National Bancorp by 14.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 103,074 shares of the company's stock worth $934,000 after purchasing an additional 12,669 shares during the period. Finally, PEAK6 Investments LLC purchased a new position in Valley National Bancorp in the 3rd quarter valued at $543,000. Institutional investors and hedge funds own 61.00% of the company's stock.

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Insider Buying and Selling

In related news, EVP Joseph Chillura sold 50,000 shares of Valley National Bancorp stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total transaction of $510,500.00. Following the completion of the sale, the executive vice president now 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.88% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on VLY shares. 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. Barclays raised their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. Piper Sandler raised Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price objective on the stock in a report on Monday, March 24th. Citigroup increased their target price on Valley National Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Finally, Stephens restated an "overweight" rating and issued a $12.50 price target 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 assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $10.78.

Valley National Bancorp Price Performance

NASDAQ VLY traded down $0.96 during mid-day trading on Thursday, hitting $8.10. The stock had a trading volume of 10,075,415 shares, compared to its average volume of 6,673,360. The company has a 50 day simple moving average of $9.48 and a 200 day simple moving average of $9.51. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 11.74 and a beta of 1.11. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.10.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share (EPS) 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 period last year, the company posted $0.22 EPS. Equities analysts forecast that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.43%. Valley National Bancorp's dividend payout ratio (DPR) is 63.77%.

Valley National Bancorp 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.