Valley National Bancorp (VLY) Director Purchases $24,949.20 in Stock

Valley National Bancorp (NYSE:VLY) Director Marc J. Lenner bought 2,040 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were acquired at an average cost of $12.23 per share, for a total transaction of $24,949.20. Following the purchase, the director now owns 47,001 shares of the company’s stock, valued at approximately $574,822.23. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Valley National Bancorp (NYSE VLY) traded up $0.07 on Tuesday, hitting $12.13. The stock had a trading volume of 3,650,000 shares, compared to its average volume of 2,400,000. The company has a market capitalization of $3,200.00, a PE ratio of 20.91 and a beta of 0.96. Valley National Bancorp has a 1 year low of $10.61 and a 1 year high of $12.82. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.98 and a current ratio of 0.98.

Valley National Bancorp (NYSE:VLY) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $199.57 million during the quarter, compared to analyst estimates of $194.26 million. Valley National Bancorp had a return on equity of 8.20% and a net margin of 17.08%. Valley National Bancorp’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 earnings per share. sell-side analysts expect that Valley National Bancorp will post 0.88 EPS for the current year.

A number of research firms have recently commented on VLY. Piper Jaffray Companies raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $13.50 target price on the stock in a research note on Friday, January 5th. Zacks Investment Research raised Valley National Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. Royal Bank of Canada began coverage on Valley National Bancorp in a research note on Thursday, December 21st. They set an “outperform” rating and a $14.00 target price on the stock. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $15.00 target price on shares of Valley National Bancorp in a research note on Friday, December 22nd. Finally, Hovde Group reaffirmed a “buy” rating and set a $14.00 target price on shares of Valley National Bancorp in a research note on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Valley National Bancorp presently has an average rating of “Buy” and a consensus target price of $13.64.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. boosted its holdings in shares of Valley National Bancorp by 26.2% in the second quarter. Advisor Group Inc. now owns 9,795 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 2,031 shares during the period. CIBC Asset Management Inc purchased a new stake in shares of Valley National Bancorp in the third quarter valued at approximately $126,000. Csenge Advisory Group purchased a new stake in shares of Valley National Bancorp in the third quarter valued at approximately $145,000. Eqis Capital Management Inc. purchased a new stake in shares of Valley National Bancorp in the third quarter valued at approximately $151,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Valley National Bancorp in the second quarter valued at approximately $168,000. Hedge funds and other institutional investors own 63.85% of the company’s stock.

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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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