23,628 Shares in Valley National Bancorp (NASDAQ:VLY) Purchased by Wolverine Asset Management LLC

Wolverine Asset Management LLC acquired a new position in shares of Valley National Bancorp (NASDAQ:VLY) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 23,628 shares of the company’s stock, valued at approximately $214,000.

Other hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. bought a new position in shares of Valley National Bancorp during the third quarter worth about $25,000. R Squared Ltd bought a new position in shares of Valley National Bancorp during the fourth quarter worth about $25,000. Blue Trust Inc. grew its holdings in shares of Valley National Bancorp by 48.2% during the third quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock worth $44,000 after buying an additional 1,564 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Valley National Bancorp by 557.0% during the third quarter. International Assets Investment Management LLC now owns 8,679 shares of the company’s stock worth $79,000 after buying an additional 7,358 shares in the last quarter. Finally, Greenwich Wealth Management LLC bought a new position in shares of Valley National Bancorp during the third quarter worth about $95,000. 61.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Joseph Chillura sold 50,000 shares of Valley National Bancorp stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.88% of the stock is currently owned by insiders.

Valley National Bancorp Stock Performance

VLY opened at $9.53 on Monday. Valley National Bancorp has a 12-month low of $6.47 and a 12-month high of $11.10. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 13.81 and a beta of 1.12. The business has a 50 day moving average of $9.62 and a 200-day moving average of $9.39. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46.

Valley National Bancorp (NASDAQ:VLY) last released 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 period last year, the firm earned $0.22 EPS. On average, equities research analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.44 annualized dividend and a yield of 4.62%. Valley National Bancorp’s payout ratio is currently 63.77%.

Wall Street Analyst Weigh In

VLY has been the subject of several recent research reports. Royal Bank of Canada increased their price target on Valley National Bancorp from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. StockNews.com cut Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. increased their price target on Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Stephens reissued an “overweight” rating and set a $12.50 price target on shares of Valley National Bancorp in a research report on Thursday, January 2nd. Finally, Barclays increased their price target on Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.67.

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.