Leeward Investments LLC MA Trims Stock Position in Valley National Bancorp (NASDAQ:VLY)

Leeward Investments LLC MA lessened its position in shares of Valley National Bancorp (NASDAQ:VLY) by 7.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,761,091 shares of the company’s stock after selling 132,897 shares during the period. Leeward Investments LLC MA owned approximately 0.35% of Valley National Bancorp worth $15,955,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Planning grew its position in shares of Valley National Bancorp by 30.3% during the 3rd quarter. Creative Planning now owns 63,665 shares of the company’s stock valued at $577,000 after purchasing an additional 14,794 shares in the last quarter. Blue Trust Inc. raised its position in shares of Valley National Bancorp by 48.2% in the third quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock worth $44,000 after buying an additional 1,564 shares in the last quarter. International Assets Investment Management LLC raised its position 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 worth $79,000 after buying an additional 7,358 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Valley National Bancorp by 7.6% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 30,419 shares of the company’s stock worth $276,000 after buying an additional 2,154 shares in the last quarter. Finally, PFG Investments LLC purchased a new stake in shares of Valley National Bancorp in the third quarter worth $131,000. Institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Stock Down 3.2 %

VLY opened at $9.53 on Friday. The business’s fifty day simple moving average is $9.62 and its 200 day simple moving average is $9.37. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.10. The stock has a market cap of $4.85 billion, a PE ratio of 13.81 and a beta of 1.12. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Valley National Bancorp had a net margin of 10.62% and a return on equity of 5.14%. During the same period in the prior year, the firm earned $0.22 EPS. As a group, research analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.62%. Valley National Bancorp’s dividend payout ratio (DPR) is currently 63.77%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on VLY shares. StockNews.com downgraded Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Stephens reiterated an “overweight” rating and issued a $12.50 price objective on shares of Valley National Bancorp in a research report on Thursday, January 2nd. Royal Bank of Canada increased their price objective on Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. increased their price objective on Valley National Bancorp from $10.50 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Citigroup increased their target price on Valley National Bancorp from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Valley National Bancorp has a consensus rating of “Hold” and an average price target of $10.67.

Insider Activity

In other news, EVP Joseph Chillura sold 50,000 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $10.21, for a total transaction of $510,500.00. Following the completion of the sale, the executive vice president now directly owns 495,249 shares in the company, valued at approximately $5,056,492.29. This represents a 9.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.88% of the company’s stock.

About Valley National Bancorp

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.