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

Leeward Investments LLC MA reduced its stake in Valley National Bancorp (NASDAQ:VLY) by 2.7% during the 1st quarter, Holdings Channel reports. 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 approximately 1.1% of Leeward Investments LLC MA’s investment portfolio, making the stock its 20th biggest position. Leeward Investments LLC MA’s holdings in Valley National Bancorp were worth $22,846,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in VLY. Los Angeles Capital Management LLC purchased a new stake in shares of Valley National Bancorp during the 4th quarter worth $26,000. First Horizon Corp boosted 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 worth $38,000 after purchasing an additional 1,108 shares during the period. Geneos Wealth Management Inc. purchased a new position in shares of Valley National Bancorp during the fourth quarter worth about $39,000. Parallel Advisors LLC increased its holdings in shares of Valley National Bancorp by 24.5% in the fourth quarter. Parallel Advisors LLC now owns 4,347 shares of the company’s stock valued at $51,000 after purchasing an additional 855 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Valley National Bancorp by 244.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,884 shares of the company’s stock valued at $53,000 after buying an additional 4,177 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Mitchell L. Crandell sold 25,495 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $14.63, for a total transaction of $372,991.85. Following the transaction, the chief accounting officer directly owned 76,116 shares in the company, valued at $1,113,577.08. This trade represents a 25.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Russell Barrett sold 90,537 shares of Valley National Bancorp stock in a transaction dated 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 transaction, the chief operating officer directly owned 64,167 shares of the company’s stock, valued at $868,821.18. This trade represents a 58.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on VLY shares. JPMorgan Chase & Co. boosted their target price on Valley National Bancorp from $14.50 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Cantor Fitzgerald upped their target price 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. TD Cowen reaffirmed a “buy” rating on shares of Valley National Bancorp in a research note on Wednesday, June 17th. National Bank Financial set a $17.00 target price on shares of Valley National Bancorp in a research note on Monday, April 27th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $15.00 price target (up from $14.00) on shares of Valley National Bancorp in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.13.

Valley National Bancorp Trading Up 1.0%

Shares of VLY opened at $14.38 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.96 and a quick ratio of 0.96. Valley National Bancorp has a 12 month low of $8.77 and a 12 month high of $14.72. The stock’s 50-day moving average is $13.60 and its two-hundred day moving average is $12.78. The stock has a market cap of $7.97 billion, a PE ratio of 12.95 and a beta of 1.04.

Valley National Bancorp (NASDAQ:VLY) last posted its earnings results on Thursday, April 23rd. The company reported $0.29 EPS for the quarter, topping 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 business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $531.89 million. During the same period in the previous year, the company posted $0.18 earnings per share. Equities analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders 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 dividend yield of 3.1%. 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.