Jaffetilchin Investment Partners LLC Reduces Holdings in Valley National Bancorp $VLY

Jaffetilchin Investment Partners LLC decreased its position in shares of Valley National Bancorp (NASDAQ:VLY) by 58.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 53,004 shares of the company’s stock after selling 74,296 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in Valley National Bancorp were worth $619,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its holdings in Valley National Bancorp by 77.4% during the third quarter. Smartleaf Asset Management LLC now owns 4,574 shares of the company’s stock valued at $48,000 after purchasing an additional 1,996 shares during the last quarter. Danske Bank A S purchased a new position in shares of Valley National Bancorp in the third quarter worth about $55,000. EverSource Wealth Advisors LLC raised its position in shares of Valley National Bancorp by 244.7% in the second quarter. EverSource Wealth Advisors LLC now owns 5,884 shares of the company’s stock valued at $53,000 after purchasing an additional 4,177 shares during the period. Blue Trust Inc. raised its position in shares of Valley National Bancorp by 199.4% in the third quarter. Blue Trust Inc. now owns 9,632 shares of the company’s stock valued at $102,000 after purchasing an additional 6,415 shares during the period. Finally, Evergreen Capital Management LLC purchased a new stake in shares of Valley National Bancorp during the 3rd quarter valued at approximately $107,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Insider Transactions at Valley National Bancorp

In other Valley National Bancorp news, Director Carlos J. Vazquez bought 2,500 shares of Valley National Bancorp stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average cost of $13.45 per share, for a total transaction of $33,625.00. Following the completion of the transaction, the director directly owned 4,252 shares in the company, valued at $57,189.40. This represents a 142.69% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on VLY shares. TD Cowen raised their price objective on shares of Valley National Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Barclays increased their target price on Valley National Bancorp from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Cantor Fitzgerald raised their price target on Valley National Bancorp from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Weiss Ratings upgraded Valley National Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. Finally, Keefe, Bruyette & Woods boosted their price objective on Valley National Bancorp from $12.50 to $13.00 and gave the company a “market perform” rating in a research note on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $14.64.

Valley National Bancorp Stock Performance

Valley National Bancorp stock opened at $12.28 on Wednesday. Valley National Bancorp has a 1-year low of $7.48 and a 1-year high of $13.87. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $6.82 billion, a PE ratio of 12.16 and a beta of 1.07. The firm’s 50 day simple moving average is $12.60 and its 200 day simple moving average is $11.68.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings results on Thursday, January 29th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. Valley National Bancorp had a net margin of 17.11% and a return on equity of 7.92%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $524.31 million. During the same period last year, the firm earned $0.13 EPS. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, analysts expect that Valley National Bancorp will post 0.99 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 Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.44 annualized dividend and a yield of 3.6%. Valley National Bancorp’s dividend payout ratio (DPR) is currently 43.56%.

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.