Valley National Bancorp (NYSE:VLY) was the recipient of unusually large options trading on Friday. Traders acquired 1,526 call options on the stock. This is an increase of approximately 1,908% compared to the average volume of 76 call options.
Several hedge funds have recently bought and sold shares of the stock. Citigroup Inc. increased its holdings in shares of Valley National Bancorp by 0.5% during the 2nd quarter. Citigroup Inc. now owns 111,892 shares of the financial services provider’s stock worth $1,321,000 after acquiring an additional 512 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Valley National Bancorp by 1.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 100,459 shares of the financial services provider’s stock worth $1,186,000 after acquiring an additional 1,284 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Valley National Bancorp by 5.2% during the 2nd quarter. Amalgamated Bank now owns 36,775 shares of the financial services provider’s stock worth $434,000 after acquiring an additional 1,803 shares during the last quarter. Advisor Group Inc. increased its holdings in shares of Valley National Bancorp by 26.2% during the 2nd quarter. Advisor Group Inc. now owns 9,795 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 2,031 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Valley National Bancorp by 3.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 64,548 shares of the financial services provider’s stock valued at $762,000 after purchasing an additional 2,320 shares during the period. 63.79% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on the company. Piper Jaffray Companies raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $13.50 price target on the stock in a research report on Friday, January 5th. Zacks Investment Research raised Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. Royal Bank of Canada assumed coverage on Valley National Bancorp in a research report on Thursday, December 21st. They set an “outperform” rating and a $14.00 price target on the stock. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $15.00 price target on shares of Valley National Bancorp in a research report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Valley National Bancorp currently has an average rating of “Hold” and an average price target of $13.21.
Valley National Bancorp (NYSE:VLY) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $199.57 million for the quarter, compared to analyst estimates of $194.26 million. Valley National Bancorp had a return on equity of 8.21% and a net margin of 17.08%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.19 EPS. analysts anticipate that Valley National Bancorp will post 0.86 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Friday, December 22nd were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Thursday, December 21st. Valley National Bancorp’s payout ratio is presently 75.86%.
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Valley National Bancorp Company Profile
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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