Peter J. Baum Purchases 3,433 Shares of Valley National Bancorp (VLY) Stock

Valley National Bancorp (NYSE:VLY) Director Peter J. Baum bought 3,433 shares of Valley National Bancorp stock in a transaction on Monday, January 29th. The shares were bought at an average cost of $12.70 per share, with a total value of $43,599.10. Following the acquisition, the director now directly owns 41,086 shares in the company, valued at $521,792.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of Valley National Bancorp (NYSE:VLY) traded down $0.04 on Monday, hitting $12.70. The stock had a trading volume of 2,347,879 shares, compared to its average volume of 2,654,357. The company has a market cap of $3,368.08, a P/E ratio of 21.90 and a beta of 0.89. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.01. Valley National Bancorp has a 12-month low of $10.61 and a 12-month high of $12.82.

Valley National Bancorp (NYSE:VLY) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. The firm had revenue of $199.57 million during the quarter, compared to the consensus estimate of $194.26 million. Valley National Bancorp had a return on equity of 8.20% and a net margin of 17.08%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the company posted $0.19 EPS. equities research analysts expect that Valley National Bancorp will post 0.86 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Friday, December 22nd were given a dividend of $0.11 per share. The ex-dividend date was Thursday, December 21st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.46%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 75.86%.

VLY has been the subject of a number of research analyst reports. Royal Bank of Canada initiated coverage on Valley National Bancorp in a research report on Thursday, December 21st. They set an “outperform” rating and a $14.00 price target for the company. Zacks Investment Research downgraded Valley National Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $15.00 price target on shares of Valley National Bancorp in a research report on Friday, December 22nd. Finally, Piper Jaffray Companies upgraded Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $13.50 price target for the company in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Valley National Bancorp currently has an average rating of “Hold” and an average price target of $13.21.

A number of large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in Valley National Bancorp by 584.3% in the 4th quarter. SG Americas Securities LLC now owns 122,344 shares of the financial services provider’s stock worth $1,373,000 after buying an additional 104,464 shares during the last quarter. Hudson Capital Management LLC bought a new stake in Valley National Bancorp in the 4th quarter worth approximately $338,000. Fox Run Management L.L.C. bought a new stake in Valley National Bancorp in the 4th quarter worth approximately $482,000. Schwab Charles Investment Management Inc. lifted its position in Valley National Bancorp by 3.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,650,152 shares of the financial services provider’s stock worth $18,515,000 after buying an additional 59,428 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Valley National Bancorp by 13.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 144,771 shares of the financial services provider’s stock worth $1,624,000 after buying an additional 17,200 shares during the last quarter. Institutional investors own 63.82% of the company’s stock.

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About Valley National Bancorp

Valley National Bancorp is the bank holding company for Valley National Bank (the Bank). The Bank provides a range of commercial, retail, insurance and wealth management financial services products. The Company’s segments include Consumer Lending, Commercial Lending, Investment Management, and Corporate and Other Adjustments.

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