Valley National Bancorp (NASDAQ:VLY) EVP Sells $510,500.00 in Stock

Valley National Bancorp (NASDAQ:VLY) EVP Joseph Chillura sold 50,000 shares of Valley National Bancorp 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 transaction, the executive vice president now owns 495,249 shares in the company, valued at approximately $5,056,492.29. This trade represents a 9.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Valley National Bancorp Stock Performance

Shares of NASDAQ:VLY opened at $10.28 on Monday. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 14.90 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. The firm’s 50-day moving average is $9.75 and its 200 day moving average is $9.17. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.13 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the company earned $0.22 EPS. Research analysts predict that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, December 13th. This represents a $0.44 annualized dividend and a yield of 4.28%. Valley National Bancorp’s payout ratio is 63.77%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VLY. Citigroup lifted their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Wedbush reiterated a “neutral” rating and issued a $10.00 price target on shares of Valley National Bancorp in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their price target on shares of Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Piper Sandler lifted their price target on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Royal Bank of Canada lifted their price target on shares of Valley National Bancorp from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Valley National Bancorp presently has a consensus rating of “Hold” and a consensus price target of $10.67.

Hedge Funds Weigh In On Valley National Bancorp

Several hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in Valley National Bancorp by 384.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,970,862 shares of the company’s stock valued at $81,276,000 after buying an additional 7,118,044 shares during the period. Victory Capital Management Inc. boosted its position in Valley National Bancorp by 1,501.7% in the 3rd quarter. Victory Capital Management Inc. now owns 5,676,685 shares of the company’s stock valued at $51,431,000 after buying an additional 5,322,278 shares during the period. Millennium Management LLC boosted its position in Valley National Bancorp by 995.0% in the 2nd quarter. Millennium Management LLC now owns 2,775,698 shares of the company’s stock valued at $19,374,000 after buying an additional 2,522,204 shares during the period. Basswood Capital Management L.L.C. purchased a new stake in Valley National Bancorp in the 3rd quarter valued at about $19,399,000. Finally, Verition Fund Management LLC boosted its position in Valley National Bancorp by 416.7% in the 3rd quarter. Verition Fund Management LLC now owns 852,884 shares of the company’s stock valued at $7,727,000 after buying an additional 687,813 shares during the period. 61.00% of the stock is currently owned by institutional investors.

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.