Valley National Bancorp (NASDAQ:VLY - Get Free Report) COO Russell Barrett sold 90,537 shares of the 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 transaction, the chief operating officer directly owned 64,167 shares of the company's stock, valued at $868,821.18. The trade was a 58.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Valley National Bancorp Stock Performance
Shares of Valley National Bancorp stock opened at $13.62 on Wednesday. The firm has a market capitalization of $7.56 billion, a P/E ratio of 12.27 and a beta of 1.03. 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 50 day moving average price of $12.66 and a 200 day moving average price of $12.02. Valley National Bancorp has a 52 week low of $8.36 and a 52 week high of $14.12.
Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. The firm had revenue of $540.36 million during the quarter, compared to analyst estimates of $531.89 million. Valley National Bancorp had a net margin of 18.61% and a return on equity of 8.68%. During the same period last year, the firm posted $0.18 EPS. Sell-side analysts expect that Valley National Bancorp will post 1.27 EPS for the current year.
Valley National Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, March 13th. Valley National Bancorp's dividend payout ratio (DPR) is presently 39.64%.
Institutional Investors Weigh In On Valley National Bancorp
A number of institutional investors have recently added to or reduced their stakes in VLY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Valley National Bancorp by 5.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 282,143 shares of the company's stock valued at $2,508,000 after acquiring an additional 15,771 shares during the period. Jones Financial Companies Lllp acquired a new stake in Valley National Bancorp in the 1st quarter valued at $191,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Valley National Bancorp by 21.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,445,644 shares of the company's stock valued at $12,852,000 after acquiring an additional 255,870 shares during the period. Focus Partners Wealth grew its stake in Valley National Bancorp by 34.9% in the 1st quarter. Focus Partners Wealth now owns 60,868 shares of the company's stock valued at $541,000 after acquiring an additional 15,761 shares during the period. Finally, Envestnet Asset Management Inc. acquired a new stake in Valley National Bancorp in the 2nd quarter valued at $119,000. Institutional investors and hedge funds own 61.00% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the stock. Cantor Fitzgerald increased their price objective on shares of Valley National Bancorp from $15.00 to $16.00 and gave the company an "overweight" rating in a research report on Tuesday, March 3rd. National Bank Financial set a $17.00 price objective on shares of Valley National Bancorp in a research report on Monday. Weiss Ratings raised shares of Valley National Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, February 6th. Hovde Group raised their price target on shares of Valley National Bancorp from $15.00 to $16.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Finally, Morgan Stanley raised their price target on shares of Valley National Bancorp from $14.00 to $16.00 and gave the stock an "overweight" rating in a research report on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $15.17.
Check Out Our Latest Stock Report on VLY
Valley National Bancorp Company Profile
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Get Free Report)
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.
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