Valley National Bancorp $VLY Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in Valley National Bancorp (NASDAQ:VLY) by 8.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,179,081 shares of the company’s stock after selling 106,201 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Valley National Bancorp were worth $17,274,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in VLY. Los Angeles Capital Management LLC acquired a new position in Valley National Bancorp in the fourth quarter worth $26,000. Cedar Mountain Advisors LLC acquired a new position in shares of Valley National Bancorp in the 1st quarter valued at about $26,000. Assetmark Inc. grew its position in shares of Valley National Bancorp by 123.7% during the 1st quarter. Assetmark Inc. now owns 2,150 shares of the company’s stock valued at $26,000 after buying an additional 1,189 shares during the last quarter. Compass Financial Management LLC bought a new stake in shares of Valley National Bancorp during the 2nd quarter valued at about $28,000. Finally, Root Financial Partners LLC raised its stake in Valley National Bancorp by 127.3% during the first quarter. Root Financial Partners LLC now owns 3,976 shares of the company’s stock worth $49,000 after acquiring an additional 2,227 shares during the period. 61.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Valley National Bancorp

In related news, CAO Mitchell L. Crandell sold 25,495 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $14.63, for a total transaction of $372,991.85. Following the transaction, the chief accounting officer owned 76,116 shares in the company, valued at $1,113,577.08. This trade represents a 25.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.06% of the stock is owned by corporate insiders.

Valley National Bancorp Trading Up 0.9%

NASDAQ:VLY opened at $14.02 on Friday. The stock has a market cap of $7.75 billion, a price-to-earnings ratio of 11.88 and a beta of 1.03. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.96 and a current ratio of 0.96. Valley National Bancorp has a 1 year low of $9.64 and a 1 year high of $15.20. The business has a fifty day moving average of $14.48 and a 200-day moving average of $13.62.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01). The company had revenue of $560.74 million during the quarter, compared to analyst estimates of $557.16 million. Valley National Bancorp had a return on equity of 9.13% and a net margin of 19.49%.The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 EPS. Equities analysts predict that Valley National Bancorp will post 1.27 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a $0.11 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.44 annualized dividend and a dividend yield of 3.1%. Valley National Bancorp’s dividend payout ratio (DPR) is 37.29%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on VLY. Piper Sandler lifted their target price on Valley National Bancorp from $16.00 to $16.50 and gave the company an “overweight” rating in a research note on Friday, June 26th. Truist Financial raised their price target on Valley National Bancorp from $15.50 to $16.50 and gave the stock a “buy” rating in a report on Friday, July 10th. Morgan Stanley restated a “positive” rating on shares of Valley National Bancorp in a research report on Monday, June 29th. National Bank Financial set a $17.50 price objective on Valley National Bancorp in a research note on Wednesday, July 1st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Valley National Bancorp in a research report on Monday, July 6th. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Valley National Bancorp has a consensus rating of “Moderate Buy” and an average price target of $16.10.

Valley National Bancorp Company Profile

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.