Leeward Investments LLC MA Has $20.39 Million Stake in Valley National Bancorp (NASDAQ:VLY)

Leeward Investments LLC MA raised its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 19.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,877,622 shares of the company’s stock after purchasing an additional 309,091 shares during the period. Valley National Bancorp makes up approximately 1.0% of Leeward Investments LLC MA’s portfolio, making the stock its 28th biggest holding. Leeward Investments LLC MA owned about 0.37% of Valley National Bancorp worth $20,391,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in Valley National Bancorp during the 4th quarter valued at about $35,000. Wolverine Asset Management LLC bought a new position in shares of Valley National Bancorp during the 4th quarter worth approximately $40,000. Stratos Wealth Partners LTD. bought a new position in shares of Valley National Bancorp during the 3rd quarter worth approximately $93,000. Jump Financial LLC bought a new position in shares of Valley National Bancorp during the 3rd quarter worth approximately $93,000. Finally, Cable Hill Partners LLC bought a new position in shares of Valley National Bancorp during the 3rd quarter worth approximately $130,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

Valley National Bancorp Stock Down 5.8 %

VLY opened at $7.32 on Friday. The company has a fifty day moving average price of $7.81 and a 200-day moving average price of $8.81. The firm has a market capitalization of $3.73 billion, a P/E ratio of 8.61 and a beta of 1.09. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.00 and a quick ratio of 0.99. Valley National Bancorp has a one year low of $6.39 and a one year high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last announced its earnings results on Thursday, April 25th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). Valley National Bancorp had a return on equity of 7.74% and a net margin of 12.88%. The company had revenue of $890.07 million during the quarter, compared to analysts’ expectations of $447.38 million. During the same quarter last year, the firm posted $0.30 earnings per share. Equities research analysts expect that Valley National Bancorp will post 0.93 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Thursday, March 14th were given a $0.11 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.44 annualized dividend and a yield of 6.01%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 51.76%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley lifted their target price on shares of Valley National Bancorp from $8.50 to $9.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 7th. Royal Bank of Canada dropped their target price on shares of Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 9th. Wedbush lowered their price target on shares of Valley National Bancorp from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday. Keefe, Bruyette & Woods lowered their price target on shares of Valley National Bancorp from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, January 26th. Finally, Citigroup lowered their target price on shares of Valley National Bancorp from $11.00 to $8.50 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $9.33.

Insider Buying and Selling

In other Valley National Bancorp news, EVP Joseph Chillura sold 49,715 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $8.18, for a total value of $406,668.70. Following the completion of the sale, the executive vice president now directly owns 545,249 shares of the company’s stock, valued at $4,460,136.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.88% of the stock is owned by company insiders.

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.