Valley National Bancorp $VLY Shares Sold by Savant Capital LLC

Savant Capital LLC cut its holdings in Valley National Bancorp (NASDAQ:VLY) by 91.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,140 shares of the company’s stock after selling 210,656 shares during the quarter. Savant Capital LLC’s holdings in Valley National Bancorp were worth $235,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of VLY. Azora Capital LP acquired a new position in shares of Valley National Bancorp during the third quarter worth about $103,120,000. UBS Group AG lifted its position in Valley National Bancorp by 404.7% in the third quarter. UBS Group AG now owns 5,867,611 shares of the company’s stock valued at $62,197,000 after purchasing an additional 4,704,971 shares during the period. Holocene Advisors LP purchased a new stake in Valley National Bancorp in the 3rd quarter valued at approximately $34,593,000. Artemis Investment Management LLP boosted its holdings in Valley National Bancorp by 252.9% in the 4th quarter. Artemis Investment Management LLP now owns 3,910,203 shares of the company’s stock valued at $45,671,000 after purchasing an additional 2,802,080 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in Valley National Bancorp in the 3rd quarter valued at approximately $27,607,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on VLY shares. Cantor Fitzgerald lifted their price objective on Valley National Bancorp from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Royal Bank Of Canada lifted their price objective on Valley National Bancorp from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, April 24th. TD Cowen lifted their price objective on Valley National Bancorp from $16.00 to $17.00 and gave the company a “buy” rating in a report on Monday, April 27th. Keefe, Bruyette & Woods lifted their price objective on Valley National Bancorp from $13.00 to $14.00 and gave the company a “market perform” rating in a report on Thursday, April 9th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $16.00 price objective (up from $15.50) on shares of Valley National Bancorp in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Valley National Bancorp has an average rating of “Moderate Buy” and a consensus target price of $15.13.

Insider Buying and Selling

In related news, COO Russell Barrett sold 90,537 shares of the business’s stock in a transaction dated 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.06% of the company’s stock.

Valley National Bancorp Price Performance

VLY stock opened at $13.78 on Monday. The company has a market cap of $7.64 billion, a P/E ratio of 12.41 and a beta of 1.04. Valley National Bancorp has a 52 week low of $8.36 and a 52 week high of $14.12. The company’s 50-day moving average price is $13.20 and its 200 day moving average price is $12.52. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $0.18 earnings per share. On average, research analysts expect that Valley National Bancorp will post 1.29 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

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

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.