Havemeyer Place LP Acquires Shares of 42,300 Valley National Bancorp $VLY

Havemeyer Place LP bought a new position in shares of Valley National Bancorp (NASDAQ:VLY) in the fourth quarter, Holdings Channel reports. The fund bought 42,300 shares of the company’s stock, valued at approximately $494,000.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of Valley National Bancorp by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 30,478,489 shares of the company’s stock valued at $323,072,000 after acquiring an additional 88,894 shares in the last quarter. Geode Capital Management LLC raised its stake in Valley National Bancorp by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 13,029,085 shares of the company’s stock worth $152,200,000 after purchasing an additional 247,651 shares in the last quarter. Azora Capital LP bought a new stake in Valley National Bancorp in the 3rd quarter valued at about $103,120,000. Victory Capital Management Inc. boosted its holdings in Valley National Bancorp by 9.2% in the 3rd quarter. Victory Capital Management Inc. now owns 8,333,597 shares of the company’s stock valued at $88,336,000 after purchasing an additional 702,774 shares during the period. Finally, Norges Bank acquired a new position in shares of Valley National Bancorp during the 4th quarter worth approximately $71,554,000. Institutional investors own 61.00% of the company’s stock.

Insider Activity

In other news, COO Russell Barrett sold 90,537 shares of the business’s stock in a transaction on Monday, April 27th. The stock was 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 owned 64,167 shares of the company’s stock, valued at approximately $868,821.18. The trade was a 58.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.06% of the company’s stock.

Valley National Bancorp Stock Performance

Shares of Valley National Bancorp stock opened at $14.11 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35. The company has a market cap of $7.82 billion, a PE ratio of 12.71 and a beta of 1.03. The company has a 50 day moving average of $13.27 and a 200-day moving average of $12.57. Valley National Bancorp has a 1-year low of $8.36 and a 1-year high of $14.23.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, beating 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 last year, the firm posted $0.18 earnings per share. As a group, equities research analysts forecast that Valley National Bancorp will post 1.29 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $0.11 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.44 annualized dividend and a dividend yield of 3.1%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 39.64%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on VLY shares. Keefe, Bruyette & Woods lifted their price target on shares of Valley National Bancorp from $13.00 to $14.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Hovde Group increased their price target on Valley National Bancorp from $16.00 to $16.50 and gave the stock an “outperform” rating in a research report on Tuesday, May 26th. Royal Bank Of Canada raised their price objective on Valley National Bancorp from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. lifted their price objective on Valley National Bancorp from $14.50 to $15.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Finally, TD Cowen upped their target price on Valley National Bancorp from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $15.13.

Valley National Bancorp 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.