Valley National Bancorp (NASDAQ:VLY) Shares Sold by LSV Asset Management

LSV Asset Management trimmed its position in Valley National Bancorp (NASDAQ:VLY) by 19.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,596,290 shares of the company’s stock after selling 383,400 shares during the period. LSV Asset Management owned 0.31% of Valley National Bancorp worth $14,462,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VLY. Vanguard Group Inc. raised its holdings in shares of Valley National Bancorp by 9.2% during the fourth quarter. Vanguard Group Inc. now owns 50,002,161 shares of the company’s stock worth $453,020,000 after purchasing an additional 4,204,651 shares during the period. Wellington Management Group LLP grew its position in shares of Valley National Bancorp by 90.2% during the 4th quarter. Wellington Management Group LLP now owns 17,059,328 shares of the company’s stock valued at $154,558,000 after buying an additional 8,088,466 shares during the last quarter. Geode Capital Management LLC raised its stake in Valley National Bancorp by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 11,821,134 shares of the company’s stock worth $107,122,000 after acquiring an additional 656,200 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Valley National Bancorp by 9.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,612,156 shares of the company’s stock worth $68,966,000 after acquiring an additional 640,933 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Valley National Bancorp by 9.4% in the fourth quarter. Victory Capital Management Inc. now owns 6,211,531 shares of the company’s stock valued at $56,276,000 after acquiring an additional 534,846 shares during the period. 61.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Joseph Chillura sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were 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 directly owns 495,249 shares in the company, valued at approximately $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 the SEC website. 1.88% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on VLY shares. Royal Bank of Canada raised their price target on Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. JPMorgan Chase & Co. raised their target price on Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Stephens restated an “overweight” rating and set a $12.50 price target on shares of Valley National Bancorp in a research report on Thursday, January 2nd. Barclays cut their price objective on shares of Valley National Bancorp from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Finally, StockNews.com cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.67.

Valley National Bancorp Trading Down 2.1 %

Shares of NASDAQ:VLY opened at $7.87 on Friday. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46. The firm has a market cap of $4.41 billion, a P/E ratio of 11.41 and a beta of 1.06. The company has a 50 day moving average of $9.15 and a 200-day moving average of $9.47.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results 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 last year, the company earned $0.22 earnings per share. As a group, 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 announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date was Friday, March 14th. Valley National Bancorp’s payout ratio is currently 63.77%.

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.