Key Financial Inc Has $32,000 Holdings in Valley National Bancorp (NASDAQ:VLY)

Key Financial Inc lessened its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 36.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,494 shares of the company’s stock after selling 2,000 shares during the period. Key Financial Inc’s holdings in Valley National Bancorp were worth $32,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new position in shares of Valley National Bancorp during the third quarter worth $25,000. R Squared Ltd bought a new position in Valley National Bancorp during the fourth quarter worth $25,000. Blue Trust Inc. raised its stake in Valley National Bancorp by 48.2% during 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 during the last quarter. International Assets Investment Management LLC raised its stake in Valley National Bancorp by 557.0% during 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 during the last quarter. Finally, Greenwich Wealth Management LLC bought a new position in Valley National Bancorp during the third quarter worth $95,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

Insider Activity

In related news, EVP Joseph Chillura sold 50,000 shares of the business’s 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 transaction, the executive vice president now directly owns 495,249 shares in the company, valued at approximately $5,056,492.29. The trade was a 9.17 % 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 this link. Corporate insiders own 1.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wedbush reissued a “neutral” rating and set a $10.00 target price on shares of Valley National Bancorp in a research note on Friday, October 25th. Royal Bank of Canada lifted their target price on shares of Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. lifted their target price on shares of Valley National Bancorp from $10.50 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. 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 note on Friday, October 25th. Finally, StockNews.com downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.67.

Valley National Bancorp Stock Up 0.9 %

Shares of NASDAQ VLY opened at $10.05 on Wednesday. The stock has a market capitalization of $5.12 billion, a P/E ratio of 14.57 and a beta of 1.12. The company has a 50-day moving average price of $9.65 and a 200-day moving average price of $9.34. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.98 and a quick ratio of 0.98.

Valley National Bancorp (NASDAQ:VLY) last issued 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 quarter last year, the firm earned $0.22 EPS. On average, equities research analysts forecast that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date was Friday, December 13th. Valley National Bancorp’s dividend payout ratio is currently 63.77%.

Valley National Bancorp 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.