Cibc World Markets Corp Makes New Investment in Valley National Bancorp (NASDAQ:VLY)

Cibc World Markets Corp acquired a new stake in shares of Valley National Bancorp (NASDAQ:VLY) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 43,786 shares of the company’s stock, valued at approximately $397,000.

A number of other hedge funds also recently made changes to their positions in the stock. R Squared Ltd bought a new stake in Valley National Bancorp in the 4th quarter worth approximately $25,000. Sapient Capital LLC purchased a new position in shares of Valley National Bancorp during the fourth quarter worth approximately $103,000. Empowered Funds LLC raised its stake in shares of Valley National Bancorp by 12.0% during the fourth quarter. Empowered Funds LLC now owns 12,812 shares of the company’s stock worth $116,000 after acquiring an additional 1,371 shares in the last quarter. Townsquare Capital LLC lifted its holdings in shares of Valley National Bancorp by 11.8% in the 3rd quarter. Townsquare Capital LLC now owns 14,365 shares of the company’s stock worth $130,000 after acquiring an additional 1,521 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co purchased a new stake in shares of Valley National Bancorp in the 3rd quarter valued at $154,000. 61.00% of the stock is owned by institutional investors.

Insider Activity at Valley National Bancorp

In related news, EVP Joseph Chillura sold 50,000 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total value of $510,500.00. Following the sale, the executive vice president now directly owns 495,249 shares of the company’s stock, valued at $5,056,492.29. This represents a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.88% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on VLY shares. 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 report on Friday, January 24th. Stephens reiterated an “overweight” rating and issued a $12.50 price objective on shares of Valley National Bancorp in a report on Thursday, January 2nd. Citigroup boosted 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. Barclays raised their price target on Valley National Bancorp from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Valley National Bancorp currently has a consensus rating of “Hold” and a consensus target price of $10.67.

Valley National Bancorp Trading Up 0.5 %

VLY opened at $8.85 on Monday. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 12.83 and a beta of 1.11. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.10. The business has a 50 day simple moving average of $9.59 and a two-hundred day simple moving average of $9.49. 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 announced 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 net margin of 10.62% and a return on equity of 5.14%. During the same period in the prior year, the company posted $0.22 EPS. Analysts predict that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend is Friday, March 14th. Valley National Bancorp’s dividend payout ratio is currently 63.77%.

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.