Valley National Bancorp (NASDAQ:VLY) Short Interest Update

Valley National Bancorp (NASDAQ:VLY) saw a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 25,720,000 shares, a decline of 17.1% from the November 30th total of 31,010,000 shares. Based on an average daily volume of 6,590,000 shares, the days-to-cover ratio is currently 3.9 days.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on VLY. Barclays increased their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Piper Sandler increased their price target on Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. StockNews.com lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Morgan Stanley increased their target price on shares of Valley National Bancorp from $9.50 to $10.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Finally, Wedbush reissued a “neutral” rating and issued a $10.00 price target on shares of Valley National Bancorp in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Valley National Bancorp presently has a consensus rating of “Hold” and a consensus price target of $10.00.

Institutional Investors Weigh In On Valley National Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of VLY. Harbor Capital Advisors Inc. purchased a new stake in Valley National Bancorp in the third quarter valued at approximately $25,000. Blue Trust Inc. increased its stake in Valley National Bancorp by 48.2% in the third quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock valued at $44,000 after purchasing an additional 1,564 shares during the period. Hexagon Capital Partners LLC raised its stake in Valley National Bancorp by 416.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 6,201 shares of the company’s stock valued at $56,000 after acquiring an additional 5,001 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Valley National Bancorp by 46.4% in the 3rd quarter. GAMMA Investing LLC now owns 6,791 shares of the company’s stock valued at $62,000 after purchasing an additional 2,151 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Valley National Bancorp by 557.0% in the third quarter. International Assets Investment Management LLC now owns 8,679 shares of the company’s stock valued at $79,000 after purchasing an additional 7,358 shares during the period. 61.00% of the stock is owned by hedge funds and other institutional investors.

Valley National Bancorp Stock Down 1.4 %

Shares of NASDAQ VLY traded down $0.13 during midday trading on Friday, hitting $9.12. The company’s stock had a trading volume of 5,257,986 shares, compared to its average volume of 6,140,509. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.10. The business’s fifty day simple moving average is $9.92 and its two-hundred day simple moving average is $8.71. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 14.71 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.97.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. The firm had revenue of $921.22 million for the quarter, compared to analyst estimates of $467.87 million. During the same period in the prior year, the firm earned $0.26 earnings per share. On average, equities analysts predict that Valley National Bancorp will post 0.65 EPS for the current year.

Valley National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date is Friday, December 13th. Valley National Bancorp’s dividend payout ratio (DPR) is 70.97%.

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.