Valley National Bancorp $VLY Shares Sold by Stieven Capital Advisors L.P.

Stieven Capital Advisors L.P. decreased its position in Valley National Bancorp (NASDAQ:VLY) by 70.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 158,666 shares of the company’s stock after selling 371,400 shares during the period. Stieven Capital Advisors L.P.’s holdings in Valley National Bancorp were worth $1,853,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of VLY. First Horizon Corp grew its holdings in Valley National Bancorp by 52.5% in the fourth quarter. First Horizon Corp now owns 3,219 shares of the company’s stock valued at $38,000 after purchasing an additional 1,108 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in Valley National Bancorp in the fourth quarter valued at $39,000. Smartleaf Asset Management LLC grew its holdings in Valley National Bancorp by 77.4% in 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. EverSource Wealth Advisors LLC boosted its stake in shares of Valley National Bancorp by 244.7% during the second quarter. EverSource Wealth Advisors LLC now owns 5,884 shares of the company’s stock valued at $53,000 after acquiring an additional 4,177 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in shares of Valley National Bancorp during the third quarter valued at $55,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on VLY. National Bank Financial set a $17.00 target price on shares of Valley National Bancorp in a research note on Monday, April 27th. Citigroup reissued a “buy” rating on shares of Valley National Bancorp in a research note on Monday, February 2nd. Raymond James Financial upgraded shares of Valley National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $15.00 price target for the company in a report on Friday, January 30th. Piper Sandler reiterated an “overweight” rating and set a $16.00 price target (up from $15.50) on shares of Valley National Bancorp in a report on Monday, April 27th. Finally, Hovde Group lifted their price target on shares of Valley National Bancorp from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Two 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $15.10.

Valley National Bancorp Price Performance

Valley National Bancorp stock opened at $13.55 on Friday. Valley National Bancorp has a 1 year low of $8.36 and a 1 year high of $14.12. The firm has a 50 day moving average price of $12.85 and a 200 day moving average price of $12.31. The company has a market cap of $7.51 billion, a price-to-earnings ratio of 12.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.96 and a current ratio of 0.96.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results 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 firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $531.89 million. During the same period in the previous year, the firm earned $0.18 earnings per share. Sell-side analysts predict that Valley National Bancorp will post 1.29 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, June 15th. Valley National Bancorp’s payout ratio is presently 39.64%.

Insider Transactions at Valley National Bancorp

In related news, COO Russell Barrett sold 90,537 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $13.54, for a total value of $1,225,870.98. Following the completion of the sale, the chief operating officer directly owned 64,167 shares in the company, valued at approximately $868,821.18. The trade was a 58.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.06% of the company’s stock.

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.