Bank of Montreal Can raised its stake in shares of Valley National Bancorp (NASDAQ:VLY – Get Rating) by 22.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 73,037 shares of the company’s stock after purchasing an additional 13,483 shares during the period. Bank of Montreal Can’s holdings in Valley National Bancorp were worth $835,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Valley National Bancorp by 7.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,070 shares of the company’s stock valued at $668,000 after purchasing an additional 4,346 shares during the period. CWM LLC grew its holdings in Valley National Bancorp by 27.8% during the fourth quarter. CWM LLC now owns 8,236 shares of the company’s stock valued at $93,000 after purchasing an additional 1,794 shares during the period. Kestra Advisory Services LLC grew its holdings in Valley National Bancorp by 16.8% during the fourth quarter. Kestra Advisory Services LLC now owns 20,273 shares of the company’s stock valued at $229,000 after purchasing an additional 2,910 shares during the period. Oliver Luxxe Assets LLC lifted its position in shares of Valley National Bancorp by 1.2% in the fourth quarter. Oliver Luxxe Assets LLC now owns 193,899 shares of the company’s stock valued at $2,193,000 after acquiring an additional 2,252 shares in the last quarter. Finally, FLC Capital Advisors lifted its position in shares of Valley National Bancorp by 37.0% in the fourth quarter. FLC Capital Advisors now owns 84,967 shares of the company’s stock valued at $961,000 after acquiring an additional 22,964 shares in the last quarter. Institutional investors own 54.77% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Valley National Bancorp from $11.50 to $9.00 in a research report on Thursday, April 6th. Raymond James lowered their price objective on Valley National Bancorp from $13.00 to $12.00 and set a “strong-buy” rating on the stock in a research report on Thursday, April 6th. StockNews.com upgraded Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, April 7th. Morgan Stanley lowered their price objective on Valley National Bancorp from $13.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 5th. Finally, Keefe, Bruyette & Woods lowered their price objective on Valley National Bancorp from $15.50 to $14.50 and set an “outperform” rating on the stock in a research report on Thursday, April 6th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Valley National Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $12.21.
Insider Buying and Selling at Valley National Bancorp
In related news, Director Marc J. Lenner acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, March 14th. The shares were acquired at an average cost of $10.93 per share, for a total transaction of $54,650.00. Following the completion of the transaction, the director now directly owns 93,670 shares in the company, valued at approximately $1,023,813.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.71% of the company’s stock.
Valley National Bancorp Price Performance
NASDAQ:VLY opened at $9.38 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $4.76 billion, a P/E ratio of 8.30 and a beta of 1.08. Valley National Bancorp has a 12 month low of $7.91 and a 12 month high of $13.07. The business’s 50-day moving average is $8.88 and its 200 day moving average is $10.59.
Valley National Bancorp (NASDAQ:VLY – Get Rating) last issued its quarterly earnings data on Thursday, April 27th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). Valley National Bancorp had a net margin of 26.05% and a return on equity of 11.24%. The company had revenue of $490.30 million for the quarter, compared to analysts’ expectations of $520.58 million. During the same quarter last year, the company earned $0.28 earnings per share. The company’s revenue for the quarter was up 37.4% on a year-over-year basis. On average, equities research analysts forecast that Valley National Bancorp will post 1.3 earnings per share for the current fiscal year.
Valley National Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Wednesday, March 15th were given a dividend of $0.11 per share. The ex-dividend date was Tuesday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 4.69%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 38.94%.
About Valley National Bancorp
Valley National Bancorp is a bank holding company, which engages in the provision of retail and commercial banking services. It operates through the following segments: Consumer Lending, Commercial Lending, Investment Management, and Corporate and Other Adjustments. The Consumer Lending segment consists of residential mortgage loans, automobile loans and home equity loans, as well as wealth management and insurance services.
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