Valley National Bancorp $VLY Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC increased its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 107.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,219 shares of the company’s stock after purchasing an additional 78,878 shares during the period. SG Americas Securities LLC’s holdings in Valley National Bancorp were worth $1,869,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Parallel Advisors LLC increased its position in Valley National Bancorp by 24.5% during the fourth quarter. Parallel Advisors LLC now owns 4,347 shares of the company’s stock worth $51,000 after buying an additional 855 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of Valley National Bancorp by 5.6% in the fourth quarter. Ritholtz Wealth Management now owns 16,652 shares of the company’s stock valued at $194,000 after acquiring an additional 888 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Valley National Bancorp by 2.1% in the fourth quarter. Bank of Montreal Can now owns 43,940 shares of the company’s stock valued at $513,000 after acquiring an additional 918 shares in the last quarter. Rothschild Investment LLC boosted its stake in shares of Valley National Bancorp by 7.3% during the fourth quarter. Rothschild Investment LLC now owns 13,592 shares of the company’s stock valued at $159,000 after acquiring an additional 923 shares during the last quarter. Finally, Vident Advisory LLC boosted its stake in shares of Valley National Bancorp by 9.1% during the fourth quarter. Vident Advisory LLC now owns 11,760 shares of the company’s stock valued at $137,000 after acquiring an additional 983 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

VLY has been the subject of several analyst reports. Morgan Stanley reissued a “positive” rating on shares of Valley National Bancorp in a research note on Monday. National Bank Financial set a $17.50 price target on shares of Valley National Bancorp in a research note on Wednesday. TD Cowen reiterated a “buy” rating on shares of Valley National Bancorp in a report on Wednesday, June 17th. Piper Sandler boosted their price objective on shares of Valley National Bancorp from $16.00 to $16.50 and gave the company an “overweight” rating in a research report on Friday, June 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Valley National Bancorp from $15.00 to $17.50 and gave the company an “overweight” rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $15.43.

Valley National Bancorp Stock Performance

Valley National Bancorp stock opened at $14.59 on Friday. The stock has a fifty day moving average price of $13.80 and a 200 day moving average price of $12.93. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35. Valley National Bancorp has a 52 week low of $8.95 and a 52 week high of $14.94. The firm has a market capitalization of $8.08 billion, a P/E ratio of 13.14 and a beta of 1.03.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.29 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $531.89 million. During the same quarter in the previous year, the business earned $0.18 EPS. Equities research analysts anticipate that Valley National Bancorp will post 1.29 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, June 15th. Valley National Bancorp’s payout ratio is presently 39.64%.

Insider Buying and Selling

In other Valley National Bancorp news, COO Russell Barrett sold 90,537 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $13.54, for a total transaction of $1,225,870.98. Following the transaction, the chief operating officer owned 64,167 shares of the company’s stock, valued at $868,821.18. This trade represents a 58.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mitchell L. Crandell sold 25,495 shares of Valley National Bancorp stock in a transaction on Friday, June 12th. The shares were sold at an average price of $14.63, for a total transaction of $372,991.85. Following the completion of the transaction, the chief accounting officer owned 76,116 shares in the company, valued at approximately $1,113,577.08. This trade represents a 25.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.06% of the stock is currently owned by insiders.

About Valley National Bancorp

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.