Jump Financial LLC Increases Stake in Valley National Bancorp (NASDAQ:VLY)

Jump Financial LLC lifted its position in Valley National Bancorp (NASDAQ:VLY) by 296.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 771,177 shares of the company’s stock after purchasing an additional 576,580 shares during the period. Jump Financial LLC owned about 0.15% of Valley National Bancorp worth $6,987,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Guggenheim Capital LLC raised its position in Valley National Bancorp by 11.3% during the 4th quarter. Guggenheim Capital LLC now owns 43,445 shares of the company’s stock valued at $394,000 after purchasing an additional 4,406 shares during the last quarter. CreativeOne Wealth LLC bought a new position in shares of Valley National Bancorp during the fourth quarter valued at approximately $102,000. Mariner LLC raised its holdings in shares of Valley National Bancorp by 73.1% during the fourth quarter. Mariner LLC now owns 152,399 shares of the company’s stock valued at $1,381,000 after acquiring an additional 64,374 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in Valley National Bancorp by 10.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 145,192 shares of the company’s stock valued at $1,315,000 after acquiring an additional 13,715 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in Valley National Bancorp by 2.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 44,848 shares of the company’s stock valued at $406,000 after purchasing an additional 1,024 shares during the period. 61.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VLY has been the subject of several research analyst reports. StockNews.com cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. JPMorgan Chase & Co. upped their target price on Valley National Bancorp from $10.50 to $11.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Piper Sandler upgraded Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 target price for the company in a research note on Monday, March 24th. Stephens reaffirmed an “overweight” rating and issued a $12.50 price target on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada increased their price objective 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, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.67.

Valley National Bancorp Price Performance

VLY opened at $8.14 on Wednesday. The firm has a market cap of $4.56 billion, a PE ratio of 11.80 and a beta of 1.06. The stock has a 50-day moving average price of $9.06 and a 200-day moving average price of $9.46. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.10. 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. During the same quarter in the previous year, the firm earned $0.22 earnings per share. Sell-side analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 annualized dividend and a yield of 5.41%. Valley National Bancorp’s dividend payout ratio is 63.77%.

Insiders Place Their Bets

In other news, EVP Joseph Chillura sold 50,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 495,249 shares of the company’s stock, valued at $5,056,492.29. The trade was a 9.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.88% of the company’s stock.

Valley National Bancorp 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.