Versor Investments LP Buys Shares of 98,800 Valley National Bancorp (NASDAQ:VLY)

Versor Investments LP bought a new stake in shares of Valley National Bancorp (NASDAQ:VLY) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 98,800 shares of the company’s stock, valued at approximately $895,000.

Several other institutional investors and hedge funds also recently bought and sold shares of VLY. Kestra Investment Management LLC acquired a new stake in shares of Valley National Bancorp during the 3rd quarter valued at about $515,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Valley National Bancorp by 17.0% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 35,600 shares of the company’s stock valued at $323,000 after buying an additional 5,181 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Valley National Bancorp by 332.7% during the 3rd quarter. Intech Investment Management LLC now owns 163,478 shares of the company’s stock valued at $1,481,000 after buying an additional 125,695 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Valley National Bancorp by 41.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,494,390 shares of the company’s stock valued at $13,539,000 after buying an additional 439,831 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Valley National Bancorp by 66.1% during the 3rd quarter. Stifel Financial Corp now owns 217,312 shares of the company’s stock valued at $1,969,000 after buying an additional 86,473 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Insider Activity

In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total value 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 represents a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.88% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Barclays lifted their price target on Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Citigroup boosted their target price on Valley National Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Stephens restated an “overweight” rating and issued a $12.50 target price on shares of Valley National Bancorp in a report on Thursday, January 2nd. Finally, Royal Bank of Canada boosted 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 research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Valley National Bancorp currently has a consensus rating of “Hold” and a consensus target price of $10.67.

Valley National Bancorp Stock Performance

Shares of NASDAQ VLY opened at $9.59 on Friday. 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 business’s 50 day moving average is $9.62 and its two-hundred day moving average is $9.41. The company has a market cap of $4.88 billion, a P/E ratio of 13.90 and a beta of 1.12. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.10.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 earned $0.22 EPS. On average, equities analysts expect that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Dividend Announcement

The company 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. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date is Friday, March 14th. Valley National Bancorp’s dividend payout ratio is presently 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.