PL Capital Advisors LLC Increases Stock Position in Valley National Bancorp (NASDAQ:VLY)

PL Capital Advisors LLC increased its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 806.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 906,000 shares of the company’s stock after purchasing an additional 806,000 shares during the period. Valley National Bancorp makes up 0.1% of PL Capital Advisors LLC’s investment portfolio, making the stock its 26th largest holding. PL Capital Advisors LLC’s holdings in Valley National Bancorp were worth $8,208,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. bought a new stake in Valley National Bancorp during the 3rd quarter valued at approximately $25,000. R Squared Ltd purchased a new stake in Valley National Bancorp during the fourth quarter worth $25,000. Blue Trust Inc. boosted its position in Valley National Bancorp by 48.2% during the 3rd quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock valued at $44,000 after acquiring 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 3rd quarter. International Assets Investment Management LLC now owns 8,679 shares of the company’s stock worth $79,000 after acquiring an additional 7,358 shares in the last quarter. Finally, Greenwich Wealth Management LLC purchased a new stake in shares of Valley National Bancorp during the 3rd quarter worth $95,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Price Performance

NASDAQ:VLY opened at $9.51 on Wednesday. The firm’s fifty day moving average is $9.60 and its two-hundred day moving average is $9.41. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 13.78 and a beta of 1.12. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.98 and a current ratio of 0.98. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.10.

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

Valley National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date is Friday, March 14th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 63.77%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on VLY shares. Royal Bank of Canada boosted their target price on shares of Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. StockNews.com lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Barclays raised their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. upped their price target 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, Stephens reiterated an “overweight” rating and set a $12.50 price objective on shares of Valley National Bancorp in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.67.

Insider Activity at Valley National Bancorp

In related news, EVP Joseph Chillura sold 50,000 shares of Valley National Bancorp stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $10.21, for a total value of $510,500.00. Following the sale, the executive vice president now owns 495,249 shares of the company’s stock, valued at approximately $5,056,492.29. This trade represents a 9.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.88% of the stock is owned by company insiders.

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.