89,899 Shares in Valley National Bancorp (NASDAQ:VLY) Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC purchased a new position in shares of Valley National Bancorp (NASDAQ:VLY) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 89,899 shares of the company’s stock, valued at approximately $976,000.

A number of other large investors have also bought and sold shares of VLY. Wellington Management Group LLP boosted its position in Valley National Bancorp by 107.4% in the 3rd quarter. Wellington Management Group LLP now owns 4,443,543 shares of the company’s stock valued at $38,037,000 after buying an additional 2,301,128 shares during the last quarter. LSV Asset Management boosted its position in Valley National Bancorp by 98.2% in the 4th quarter. LSV Asset Management now owns 2,060,631 shares of the company’s stock valued at $22,378,000 after buying an additional 1,020,815 shares during the last quarter. American Century Companies Inc. boosted its position in Valley National Bancorp by 7.6% in the 3rd quarter. American Century Companies Inc. now owns 13,025,530 shares of the company’s stock valued at $111,499,000 after buying an additional 920,140 shares during the last quarter. Knights of Columbus Asset Advisors LLC bought a new position in Valley National Bancorp in the 4th quarter valued at $6,366,000. Finally, AQR Capital Management LLC boosted its position in Valley National Bancorp by 220.8% in the 3rd quarter. AQR Capital Management LLC now owns 569,914 shares of the company’s stock valued at $4,878,000 after buying an additional 392,244 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Valley National Bancorp

In other Valley National Bancorp news, EVP Joseph Chillura sold 49,715 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $8.18, for a total transaction of $406,668.70. Following the completion of the transaction, the executive vice president now directly owns 545,249 shares in the company, valued at $4,460,136.82. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.88% of the company’s stock.

Wall Street Analyst Weigh In

VLY has been the topic of a number of analyst reports. Barclays started coverage on Valley National Bancorp in a research note on Friday, March 8th. They issued an “underweight” rating and a $8.00 price target on the stock. Citigroup reduced their price target on Valley National Bancorp from $11.00 to $8.50 and set a “neutral” rating for the company in a report on Wednesday, March 13th. Morgan Stanley lifted their price target on Valley National Bancorp from $8.50 to $9.00 and gave the stock an “underweight” rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. cut their price objective on shares of Valley National Bancorp from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, April 4th. Finally, Royal Bank of Canada cut their price objective on shares of Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday, April 9th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Valley National Bancorp has a consensus rating of “Hold” and an average target price of $9.33.

Valley National Bancorp Price Performance

Shares of NASDAQ VLY traded down $0.06 during midday trading on Monday, reaching $7.67. The company’s stock had a trading volume of 3,529,160 shares, compared to its average volume of 6,223,330. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 1.00. Valley National Bancorp has a fifty-two week low of $6.39 and a fifty-two week high of $11.22. The business’s 50 day moving average price is $7.71 and its two-hundred day moving average price is $8.78. The company has a market cap of $3.90 billion, a P/E ratio of 9.02 and a beta of 1.10.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). Valley National Bancorp had a net margin of 12.88% and a return on equity of 7.74%. The business had revenue of $890.07 million during the quarter, compared to analyst estimates of $447.38 million. During the same quarter in the previous year, the firm posted $0.30 earnings per share. On average, analysts forecast that Valley National Bancorp will post 0.9 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 14th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.44 annualized dividend and a yield of 5.74%. Valley National Bancorp’s dividend payout ratio is currently 51.76%.

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.