Arizona State Retirement System increased its holdings in Valley National Bancorp (NASDAQ:VLY – Get Rating) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 121,446 shares of the company’s stock after purchasing an additional 4,496 shares during the period. Arizona State Retirement System’s holdings in Valley National Bancorp were worth $1,374,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of VLY. Eaton Vance Management increased its stake in Valley National Bancorp by 0.6% during the third quarter. Eaton Vance Management now owns 184,206 shares of the company’s stock worth $1,990,000 after acquiring an additional 1,032 shares during the last quarter. WealthPlan Investment Management LLC bought a new stake in Valley National Bancorp during the third quarter worth approximately $266,000. FLC Capital Advisors increased its position in Valley National Bancorp by 37.0% during the fourth quarter. FLC Capital Advisors now owns 84,967 shares of the company’s stock valued at $961,000 after acquiring an additional 22,964 shares during the last quarter. Cozad Asset Management Inc. purchased a new stake in shares of Valley National Bancorp in the third quarter valued at $1,532,000. Finally, Freestone Capital Holdings LLC bought a new stake in shares of Valley National Bancorp in the 3rd quarter worth about $344,000. Institutional investors own 54.77% of the company’s stock.
Valley National Bancorp Price Performance
VLY opened at $6.59 on Friday. Valley National Bancorp has a 12-month low of $6.39 and a 12-month high of $13.07. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. The business’s fifty day simple moving average is $8.42 and its 200-day simple moving average is $10.22. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 5.78 and a beta of 1.08.
Valley National Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Wednesday, March 15th were paid a dividend of $0.11 per share. The ex-dividend date was Tuesday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.68%. Valley National Bancorp’s dividend payout ratio is presently 38.60%.
Analyst Ratings Changes
A number of analysts recently weighed in on VLY shares. Keefe, Bruyette & Woods reduced their price objective on shares of Valley National Bancorp from $15.50 to $14.50 and set an “outperform” rating on the stock in a research report on Thursday, April 6th. Raymond James cut Valley National Bancorp from a “strong-buy” rating to a “market perform” rating in a report on Monday, May 1st. Morgan Stanley cut their price objective on Valley National Bancorp from $13.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 5th. JPMorgan Chase & Co. cut their price objective on Valley National Bancorp from $11.50 to $9.00 in a research report on Thursday, April 6th. Finally, StockNews.com raised Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, April 7th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.08.
Insider Activity
In related news, Director Marc J. Lenner acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The shares were bought at an average price of $15.09 per share, with a total value of $30,180.00. Following the completion of the transaction, the director now directly owns 8,260 shares in the company, valued at $124,643.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Marc J. Lenner bought 2,000 shares of the stock in a transaction on Monday, May 8th. The stock was bought at an average cost of $15.09 per share, for a total transaction of $30,180.00. Following the completion of the purchase, the director now directly owns 8,260 shares in the company, valued at $124,643.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marc J. Lenner bought 5,000 shares of the stock in a transaction on Tuesday, March 14th. The stock was purchased at an average price of $10.93 per share, with a total value of $54,650.00. Following the completion of the purchase, the director now owns 93,670 shares of the company’s stock, valued at $1,023,813.10. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 7,100 shares of company stock worth $85,929. Corporate insiders own 1.71% of the company’s stock.
Valley National Bancorp Profile
Valley National Bancorp is a bank holding company, which engages in the provision of retail and commercial banking services. It operates through the following segments: Consumer Lending, Commercial Lending, Investment Management, and Corporate and Other Adjustments. The Consumer Lending segment consists of residential mortgage loans, automobile loans and home equity loans, as well as wealth management and insurance services.
Read More
- Get a free copy of the StockNews.com research report on Valley National Bancorp (VLY)
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