Valley National Bancorp (NASDAQ:VLY) CAO Mitchell Crandell Sells 25,495 Shares

Valley National Bancorp (NASDAQ:VLY) CAO Mitchell Crandell sold 25,495 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $14.63, for a total value of $372,991.85. Following the sale, the chief accounting officer owned 76,116 shares in the company, valued at $1,113,577.08. This trade represents a 25.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Valley National Bancorp Price Performance

NASDAQ:VLY opened at $14.29 on Tuesday. Valley National Bancorp has a 52 week low of $8.36 and a 52 week high of $14.72. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $7.92 billion, a PE ratio of 12.87 and a beta of 1.04. The stock’s 50-day moving average price is $13.44 and its 200-day moving average price is $12.66.

Valley National Bancorp (NASDAQ:VLY) last posted its earnings results on Thursday, April 23rd. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. Valley National Bancorp had a return on equity of 8.68% and a net margin of 18.61%.The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $531.89 million. During the same period last year, the firm earned $0.18 EPS. As a group, equities analysts expect that Valley National Bancorp will post 1.29 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, June 15th. Valley National Bancorp’s payout ratio is presently 39.64%.

Wall Street Analysts Forecast Growth

VLY has been the topic of several research analyst reports. Royal Bank Of Canada lifted their price objective on Valley National Bancorp from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. TD Cowen lifted their price objective on Valley National Bancorp from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Morgan Stanley reiterated an “equal weight” rating and issued a $15.00 price objective (up from $14.00) on shares of Valley National Bancorp in a report on Wednesday, May 6th. Piper Sandler reiterated an “overweight” rating and issued a $16.00 price objective (up from $15.50) on shares of Valley National Bancorp in a report on Monday, April 27th. Finally, Cantor Fitzgerald lifted their price objective on Valley National Bancorp from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Valley National Bancorp currently has an average rating of “Moderate Buy” and an average target price of $15.13.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Oliver Luxxe Assets LLC purchased a new stake in Valley National Bancorp in the fourth quarter valued at approximately $2,714,000. Jupiter Asset Management Ltd. purchased a new stake in Valley National Bancorp in the third quarter valued at approximately $10,756,000. Polar Asset Management Partners Inc. purchased a new stake in Valley National Bancorp in the third quarter valued at approximately $4,753,000. Intech Investment Management LLC raised its position in Valley National Bancorp by 142.4% in the third quarter. Intech Investment Management LLC now owns 978,713 shares of the company’s stock valued at $10,374,000 after purchasing an additional 574,968 shares during the period. Finally, LSV Asset Management raised its position in Valley National Bancorp by 6.3% in the third quarter. LSV Asset Management now owns 1,522,310 shares of the company’s stock valued at $16,136,000 after purchasing an additional 90,500 shares during the period. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Valley National Bancorp Company Profile

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.