Valley National Bancorp (NASDAQ:VLY) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC lowered its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 9.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,806 shares of the company’s stock after selling 2,528 shares during the period. Park Avenue Securities LLC’s holdings in Valley National Bancorp were worth $225,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Harbor Capital Advisors Inc. purchased a new stake in Valley National Bancorp during the 3rd quarter valued at about $25,000. Blue Trust Inc. boosted its holdings in shares of Valley National Bancorp by 48.2% during the 3rd quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock worth $44,000 after purchasing an additional 1,564 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of Valley National Bancorp by 416.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 6,201 shares of the company’s stock worth $56,000 after purchasing an additional 5,001 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Valley National Bancorp by 46.4% in the third quarter. GAMMA Investing LLC now owns 6,791 shares of the company’s stock valued at $62,000 after purchasing an additional 2,151 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Valley National Bancorp by 557.0% in the third quarter. International Assets Investment Management LLC now owns 8,679 shares of the company’s stock valued at $79,000 after purchasing an additional 7,358 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Valley National Bancorp Price Performance

VLY stock opened at $10.17 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $5.18 billion, a P/E ratio of 16.40 and a beta of 1.12. The business has a 50 day simple moving average of $9.75 and a 200-day simple moving average of $9.08. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. During the same quarter last year, the business earned $0.22 earnings per share. As a group, equities analysts anticipate that Valley National Bancorp will post 0.64 EPS for the current year.

Valley National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.33%. The ex-dividend date was Friday, December 13th. Valley National Bancorp’s dividend payout ratio is presently 63.77%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on VLY shares. Citigroup dropped their target price on Valley National Bancorp from $10.50 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, December 31st. Barclays upped their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. StockNews.com downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Stephens reissued an “overweight” rating and issued a $12.50 price target on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Finally, Piper Sandler lifted their price target on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.56.

Valley National Bancorp Company Profile

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, private banking, retail, insurance, and wealth management financial services products. It operates through Consumer Banking, Commercial Banking, and Treasury and Corporate other segments.