Valley National Bancorp $VLY Position Trimmed by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. lessened its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 93.0% during the 4th quarter, HoldingsChannel reports. The fund owned 71,235 shares of the company’s stock after selling 943,491 shares during the period. Jupiter Asset Management Ltd.’s holdings in Valley National Bancorp were worth $832,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of VLY. First Horizon Corp grew its stake in Valley National Bancorp by 52.5% during the 4th quarter. First Horizon Corp now owns 3,219 shares of the company’s stock valued at $38,000 after acquiring an additional 1,108 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in Valley National Bancorp during the 4th quarter valued at about $39,000. Smartleaf Asset Management LLC grew its stake in Valley National Bancorp by 77.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 4,574 shares of the company’s stock valued at $48,000 after acquiring an additional 1,996 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Valley National Bancorp by 244.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,884 shares of the company’s stock valued at $53,000 after acquiring an additional 4,177 shares in the last quarter. Finally, Danske Bank A S purchased a new position in Valley National Bancorp during the 3rd quarter valued at about $55,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on VLY shares. Weiss Ratings raised Valley National Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Keefe, Bruyette & Woods lifted their target price on Valley National Bancorp from $13.00 to $14.00 and gave the company a “market perform” rating in a research note on Thursday, April 9th. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 target price (up from $15.50) on shares of Valley National Bancorp in a research note on Monday, April 27th. National Bank Financial set a $17.00 target price on Valley National Bancorp in a research note on Monday, April 27th. Finally, Cantor Fitzgerald boosted their price target on Valley National Bancorp from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.13.

Valley National Bancorp Trading Up 0.4%

Shares of NASDAQ VLY opened at $13.77 on Friday. The stock has a market cap of $7.63 billion, a price-to-earnings ratio of 12.41 and a beta of 1.04. The business has a 50 day simple moving average of $13.04 and a 200 day simple moving average of $12.41. Valley National Bancorp has a 52 week low of $8.36 and a 52 week high of $14.12. 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 (NASDAQ:VLY) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $531.89 million. Valley National Bancorp had a return on equity of 8.68% and a net margin of 18.61%.During the same quarter in the previous year, the business posted $0.18 EPS. On average, research analysts predict that Valley National Bancorp will post 1.29 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.44 dividend on an annualized basis and a yield of 3.2%. Valley National Bancorp’s dividend payout ratio is presently 39.64%.

Insider Transactions at Valley National Bancorp

In other Valley National Bancorp news, COO Russell Barrett sold 90,537 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $13.54, for a total transaction of $1,225,870.98. Following the completion of the sale, the chief operating officer owned 64,167 shares of the company’s stock, valued at $868,821.18. This represents a 58.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.06% of the stock is owned by insiders.

About Valley National Bancorp

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.