Brown Brothers Harriman & Co. Sells 21,931 Shares of Valley National Bancorp (NASDAQ:VLY)

Brown Brothers Harriman & Co. decreased its holdings in Valley National Bancorp (NASDAQ:VLY) by 50.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,931 shares of the company’s stock after selling 21,931 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Valley National Bancorp were worth $199,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in VLY. R Squared Ltd purchased a new stake in shares of Valley National Bancorp in the 4th quarter worth about $25,000. Sapient Capital LLC bought a new stake in Valley National Bancorp during the 4th quarter valued at approximately $103,000. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Valley National Bancorp by 9.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company’s stock worth $104,000 after acquiring an additional 1,002 shares during the period. Financial Engines Advisors L.L.C. bought a new position in shares of Valley National Bancorp in the 4th quarter worth approximately $104,000. Finally, Empowered Funds LLC lifted its stake in shares of Valley National Bancorp by 12.0% in the 4th quarter. Empowered Funds LLC now owns 12,812 shares of the company’s stock valued at $116,000 after purchasing an additional 1,371 shares during the period. Institutional investors own 61.00% of the company’s stock.

Insider Activity

In other news, EVP Joseph Chillura sold 50,000 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 495,249 shares in the company, valued at $5,056,492.29. This trade represents a 9.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on VLY. JPMorgan Chase & Co. increased their price objective on Valley National Bancorp from $10.50 to $11.00 and gave the stock an “overweight” rating in a report 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 note on Thursday, December 5th. Piper Sandler upgraded shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 target price on the stock in a research note on Monday, March 24th. Stephens reaffirmed an “overweight” rating and issued a $12.50 price objective on shares of Valley National Bancorp in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada lifted their target price on Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.78.

Valley National Bancorp Price Performance

Shares of NASDAQ:VLY opened at $8.89 on Tuesday. 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 stock has a market capitalization of $4.98 billion, a PE ratio of 12.88 and a beta of 1.11. The firm’s 50 day moving average price is $9.55 and its 200-day moving average price is $9.53. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share 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 quarter in the previous year, the firm posted $0.22 EPS. Equities research analysts expect that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.95%. 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.