Quantbot Technologies LP Has $1.58 Million Stake in Valley National Bancorp (NASDAQ:VLY)

Quantbot Technologies LP reduced its stake in Valley National Bancorp (NASDAQ:VLY) by 50.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 174,170 shares of the company’s stock after selling 176,790 shares during the quarter. Quantbot Technologies LP’s holdings in Valley National Bancorp were worth $1,578,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in shares of Valley National Bancorp in the fourth quarter valued at about $25,000. Sapient Capital LLC acquired a new stake in Valley National Bancorp in the 4th quarter valued at approximately $103,000. Empowered Funds LLC lifted its stake in Valley National Bancorp by 12.0% in the 4th quarter. Empowered Funds LLC now owns 12,812 shares of the company’s stock valued at $116,000 after acquiring an additional 1,371 shares in the last quarter. Townsquare Capital LLC boosted its position in Valley National Bancorp by 11.8% during 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 bought a new position in shares of Valley National Bancorp during the 3rd quarter worth approximately $154,000. 61.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on VLY. Citigroup boosted their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Stephens reissued an “overweight” rating and set a $12.50 price target on shares of Valley National Bancorp in a research report on Thursday, January 2nd. JPMorgan Chase & Co. increased their price objective 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. Barclays lifted their target price on Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Finally, Piper Sandler raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 price target for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.78.

Valley National Bancorp Stock Up 3.5 %

Shares of VLY stock opened at $9.16 on Tuesday. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 13.28 and a beta of 1.11. The firm’s 50-day moving average is $9.60 and its 200-day moving average is $9.50.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business posted $0.22 earnings per share. Sell-side analysts predict that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 4.80%. Valley National Bancorp’s dividend payout ratio (DPR) is 63.77%.

Insiders Place Their Bets

In other news, EVP Joseph Chillura sold 50,000 shares of the firm’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 completion of the sale, the executive vice president now owns 495,249 shares in the company, valued at approximately $5,056,492.29. This trade represents a 9.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.88% of the company’s stock.

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.