Valley National Bancorp $VLY Shares Bought by Sei Investments Co.

Sei Investments Co. boosted its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 67.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 461,493 shares of the company’s stock after purchasing an additional 186,260 shares during the quarter. Sei Investments Co.’s holdings in Valley National Bancorp were worth $5,667,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Cedar Mountain Advisors LLC acquired a new position in shares of Valley National Bancorp during the 1st quarter worth approximately $26,000. Assetmark Inc. grew its stake in Valley National Bancorp by 123.7% in the 1st quarter. Assetmark Inc. now owns 2,150 shares of the company’s stock valued at $26,000 after acquiring an additional 1,189 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Valley National Bancorp in the 4th quarter valued at $26,000. First Horizon Corp increased its holdings in Valley National Bancorp by 52.5% in the 4th quarter. First Horizon Corp now owns 3,219 shares of the company’s stock worth $38,000 after acquiring an additional 1,108 shares in the last quarter. Finally, Geneos Wealth Management Inc. acquired a new position in Valley National Bancorp during the fourth quarter worth $39,000. 61.00% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Valley National Bancorp

In other Valley National Bancorp news, CAO Mitchell L. Crandell sold 25,495 shares of the 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 completion of the sale, the chief accounting officer owned 76,116 shares in the company, valued at approximately $1,113,577.08. This represents a 25.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.06% of the company’s stock.

Valley National Bancorp Trading Up 2.6%

Shares of VLY opened at $14.88 on Wednesday. Valley National Bancorp has a 52-week low of $9.08 and a 52-week high of $15.20. 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 firm’s fifty day moving average is $14.37 and its two-hundred day moving average is $13.37. The stock has a market cap of $8.25 billion, a PE ratio of 12.61 and a beta of 1.04.

Valley National Bancorp (NASDAQ:VLY) last issued its earnings results on Thursday, July 23rd. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). The business had revenue of $560.74 million during the quarter, compared to analyst estimates of $557.16 million. Valley National Bancorp had a net margin of 19.49% and a return on equity of 9.13%. Valley National Bancorp’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the company earned $0.23 earnings per share. Research analysts forecast that Valley National Bancorp will post 1.28 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Valley National Bancorp’s dividend payout ratio is currently 37.29%.

Analyst Upgrades and Downgrades

VLY has been the topic of several recent analyst reports. Hovde Group increased their price objective on shares of Valley National Bancorp from $16.00 to $16.50 and gave the company an “outperform” rating in a report on Tuesday, May 26th. Keefe, Bruyette & Woods upped their price target on shares of Valley National Bancorp from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Morgan Stanley reaffirmed a “positive” rating on shares of Valley National Bancorp in a research note on Monday, June 29th. Cantor Fitzgerald lifted their price objective on Valley National Bancorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Valley National Bancorp in a research note on Monday, July 6th. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Valley National Bancorp has an average rating of “Moderate Buy” and a consensus price target of $16.03.

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.