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 the firm’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $10.21, for a total value of $510,500.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Valley National Bancorp Stock Up 0.3 %

VLY stock opened at $10.28 on Friday. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 14.90 and a beta of 1.12. Valley National Bancorp has a 1-year low of $6.47 and a 1-year high of $11.10. The firm has a fifty day moving average price of $9.75 and a two-hundred day moving average price of $9.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.98 and a quick ratio of 0.98.

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

Valley National Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on VLY shares. StockNews.com downgraded Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Royal Bank of Canada upped their target price on shares of Valley National Bancorp from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Barclays lifted their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Stephens reissued 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, Citigroup lifted their target price on Valley National Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $10.67.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. acquired a new stake in shares of Valley National Bancorp in the 3rd quarter worth approximately $25,000. R Squared Ltd acquired a new position in shares of Valley National Bancorp during the fourth quarter valued at approximately $25,000. Blue Trust Inc. raised its holdings in 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 purchasing an additional 1,564 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in Valley National Bancorp by 416.8% in the third quarter. Hexagon Capital Partners LLC now owns 6,201 shares of the company’s stock worth $56,000 after purchasing an additional 5,001 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Valley National Bancorp by 46.4% during 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 in the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

About Valley National Bancorp

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.