World Investment Advisors Purchases 54,562 Shares of Valley National Bancorp $VLY

by · The Markets Daily

World Investment Advisors lifted its position in Valley National Bancorp (NASDAQ:VLY – Free Report) by 195.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,417 shares of the company’s stock after purchasing an additional 54,562 shares during the period. World Investment Advisors’ holdings in Valley National Bancorp were worth $963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Los Angeles Capital Management LLC bought a new position in Valley National Bancorp in the 4th quarter worth $26,000. First Horizon Corp raised its holdings in Valley National Bancorp by 52.5% during the fourth quarter. First Horizon Corp now owns 3,219 shares of the company’s stock valued at $38,000 after acquiring an additional 1,108 shares during the period. Geneos Wealth Management Inc. bought a new stake in Valley National Bancorp during the fourth quarter valued at about $39,000. Parallel Advisors LLC lifted its position in shares of Valley National Bancorp by 24.5% in the fourth quarter. Parallel Advisors LLC now owns 4,347 shares of the company’s stock valued at $51,000 after acquiring an additional 855 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Valley National Bancorp in the fourth quarter valued at about $60,000. 61.00% of the stock is currently owned by institutional investors.

Valley National Bancorp Price Performance

Shares of Valley National Bancorp stock opened at $14.09 on Monday. The stock has a 50 day moving average of $13.56 and a 200 day moving average of $12.74. Valley National Bancorp has a 12 month low of $8.54 and a 12 month high of $14.72. The firm has a market cap of $7.81 billion, a PE ratio of 12.69 and a beta of 1.04. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35.

Valley National Bancorp (NASDAQ:VLY – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.02. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $531.89 million. Valley National Bancorp had a return on equity of 8.68% and a net margin of 18.61%.During the same quarter last year, the business posted $0.18 EPS. On average, research analysts expect that Valley National Bancorp will post 1.29 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, June 15th. Valley National Bancorp’s payout ratio is currently 39.64%.

Insider Buying and Selling at Valley National Bancorp

In other Valley National Bancorp news, COO Russell Barrett sold 90,537 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $13.54, for a total transaction of $1,225,870.98. Following the completion of the transaction, the chief operating officer owned 64,167 shares in the company, valued at $868,821.18. This trade represents a 58.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mitchell L. Crandell sold 25,495 shares of Valley National Bancorp stock in a transaction on Friday, June 12th. The stock was sold at an average price of $14.63, for a total transaction of $372,991.85. Following the completion of the transaction, the chief accounting officer directly owned 76,116 shares of the company’s stock, valued at $1,113,577.08. The trade was a 25.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on VLY shares. Hovde Group increased their target price on Valley National Bancorp from $16.00 to $16.50 and gave the stock an “outperform” rating in a research report on Tuesday, May 26th. National Bank Financial set a $17.00 price target on Valley National Bancorp in a report on Monday, April 27th. Royal Bank Of Canada upped their price target on Valley National Bancorp from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price objective (up from $15.50) on shares of Valley National Bancorp in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Valley National Bancorp from $14.50 to $15.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.13.

Check Out Our Latest Research Report on Valley National Bancorp

Valley National Bancorp Profile

(Free Report)

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.

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