Quantbot Technologies LP Sells 176,790 Shares of Valley National Bancorp (NASDAQ:VLY)

Quantbot Technologies LP lowered its position in Valley National Bancorp (NASDAQ:VLY) by 50.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 174,170 shares of the company’s stock after selling 176,790 shares during the quarter. Quantbot Technologies LP’s holdings in Valley National Bancorp were worth $1,578,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in Valley National Bancorp by 384.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,970,862 shares of the company’s stock valued at $81,276,000 after buying an additional 7,118,044 shares during the period. Burkehill Global Management LP acquired a new position in Valley National Bancorp in the fourth quarter worth about $20,838,000. Basswood Capital Management L.L.C. bought a new position in Valley National Bancorp during the third quarter worth about $19,399,000. Bank of New York Mellon Corp boosted its holdings in Valley National Bancorp by 27.8% during the fourth quarter. Bank of New York Mellon Corp now owns 6,101,280 shares of the company’s stock valued at $55,278,000 after purchasing an additional 1,327,829 shares in the last quarter. Finally, PL Capital Advisors LLC grew its stake in shares of Valley National Bancorp by 806.0% in the 4th quarter. PL Capital Advisors LLC now owns 906,000 shares of the company’s stock valued at $8,208,000 after purchasing an additional 806,000 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Valley National Bancorp Stock Up 3.5 %

Shares of VLY opened at $9.16 on Tuesday. The business’s fifty day moving average price is $9.60 and its two-hundred day moving average price is $9.50. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of 13.28 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. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.98 and a current ratio of 0.98.

Valley National Bancorp (NASDAQ:VLY) last posted 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 net margin of 10.62% and a return on equity of 5.14%. During the same period in the prior year, the firm posted $0.22 earnings per share. On average, analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend is Friday, March 14th. Valley National Bancorp’s payout ratio is 63.77%.

Insider Activity at Valley National Bancorp

In related 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 transaction of $510,500.00. Following the sale, the executive vice president now owns 495,249 shares of the company’s stock, valued at approximately $5,056,492.29. This trade represents a 9.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.88% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on VLY. Royal Bank of Canada boosted their price target on Valley National Bancorp from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Barclays boosted their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. lifted their price target on shares of Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Stephens reaffirmed an “overweight” rating and set a $12.50 price objective on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Finally, Piper Sandler raised shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 price objective for the company in a report on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.78.

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.