Valley National Bancorp $VLY Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA decreased its stake in Valley National Bancorp (NASDAQ:VLY) by 2.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,860,458 shares of the company’s stock after selling 51,007 shares during the quarter. Valley National Bancorp makes up 1.1% of Leeward Investments LLC MA’s holdings, making the stock its 20th largest position. Leeward Investments LLC MA owned about 0.33% of Valley National Bancorp worth $22,846,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in Valley National Bancorp by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 30,478,489 shares of the company’s stock valued at $323,072,000 after acquiring an additional 88,894 shares during the period. Geode Capital Management LLC grew its stake in shares of Valley National Bancorp by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 13,029,085 shares of the company’s stock worth $152,200,000 after purchasing an additional 247,651 shares during the period. Azora Capital LP purchased a new position in shares of Valley National Bancorp during the 3rd quarter valued at approximately $103,120,000. Victory Capital Management Inc. lifted its stake in shares of Valley National Bancorp by 9.2% in the 3rd quarter. Victory Capital Management Inc. now owns 8,333,597 shares of the company’s stock valued at $88,336,000 after purchasing an additional 702,774 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Valley National Bancorp by 1,013.8% during the fourth quarter. Marshall Wace LLP now owns 6,831,049 shares of the company’s stock worth $79,787,000 after buying an additional 6,217,716 shares in the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on VLY shares. Hovde Group raised their price target on shares of Valley National Bancorp from $16.00 to $16.50 and gave the company an “outperform” rating in a research report on Tuesday, May 26th. Piper Sandler reiterated an “overweight” rating and issued a $16.00 price objective (up from $15.50) on shares of Valley National Bancorp in a research report on Monday, April 27th. JPMorgan Chase & Co. increased their target price on shares of Valley National Bancorp from $14.50 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. National Bank Financial set a $17.00 target price on Valley National Bancorp in a research report on Monday, April 27th. Finally, Royal Bank Of Canada lifted their price target on Valley National Bancorp from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.13.

Insider Buying and Selling

In related news, CAO Mitchell L. Crandell sold 25,495 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $14.63, for a total value of $372,991.85. Following the sale, the chief accounting officer directly owned 76,116 shares in the company, valued at approximately $1,113,577.08. The trade was a 25.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Russell Barrett sold 90,537 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were 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 directly owned 64,167 shares in the company, valued at $868,821.18. This trade represents a 58.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.06% of the stock is owned by company insiders.

Valley National Bancorp Price Performance

Valley National Bancorp stock opened at $14.38 on Wednesday. Valley National Bancorp has a 52-week low of $8.77 and a 52-week high of $14.72. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 12.95 and a beta of 1.04. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $13.60 and a 200-day simple moving average of $12.78.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. Valley National Bancorp had a net margin of 18.61% and a return on equity of 8.68%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $531.89 million. During the same quarter in the prior year, the firm earned $0.18 EPS. On average, equities analysts anticipate that Valley National Bancorp will post 1.29 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, June 15th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 39.64%.

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.