Valley National Bancorp $VLY Stock Holdings Reduced by Corient Private Wealth LLC

Corient Private Wealth LLC reduced its position in Valley National Bancorp (NASDAQ:VLY) by 50.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 38,529 shares of the company’s stock after selling 39,365 shares during the quarter. Corient Private Wealth LLC’s holdings in Valley National Bancorp were worth $450,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VLY. Los Angeles Capital Management LLC bought a new stake in shares of Valley National Bancorp in the 4th quarter valued at approximately $26,000. First Horizon Corp raised its position in Valley National Bancorp by 52.5% during the fourth quarter. First Horizon Corp now owns 3,219 shares of the company’s stock valued at $38,000 after acquiring an additional 1,108 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in Valley National Bancorp in the fourth quarter valued at approximately $39,000. Parallel Advisors LLC lifted its stake in Valley National Bancorp by 24.5% in the fourth quarter. Parallel Advisors LLC now owns 4,347 shares of the company’s stock valued at $51,000 after acquiring an additional 855 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Valley National Bancorp by 244.7% in the second quarter. EverSource Wealth Advisors LLC now owns 5,884 shares of the company’s stock worth $53,000 after acquiring an additional 4,177 shares in the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Valley National Bancorp

In related news, CAO Mitchell L. Crandell sold 25,495 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was 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 of the company’s stock, valued at approximately $1,113,577.08. The trade was a 25.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Russell Barrett sold 90,537 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $13.54, for a total value of $1,225,870.98. Following the transaction, the chief operating officer directly owned 64,167 shares of the company’s stock, valued at $868,821.18. This represents a 58.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.06% of the company’s stock.

Valley National Bancorp Price Performance

NASDAQ VLY opened at $14.59 on Monday. Valley National Bancorp has a 1 year low of $8.95 and a 1 year high of $14.94. The company has a fifty day simple moving average of $13.83 and a 200 day simple moving average of $12.95. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35. The company has a market cap of $8.08 billion, a P/E ratio of 13.14 and a beta of 1.03.

Valley National Bancorp (NASDAQ:VLY) last announced its earnings results on Thursday, April 23rd. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $531.89 million. Valley National Bancorp had a net margin of 18.61% and a return on equity of 8.68%. During the same quarter last year, the firm posted $0.18 EPS. On average, sell-side analysts predict that Valley National Bancorp will post 1.29 EPS for the current year.

Valley National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, June 15th. Valley National Bancorp’s dividend payout ratio (DPR) is currently 39.64%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on VLY shares. TD Cowen restated a “buy” rating on shares of Valley National Bancorp in a report on Wednesday, June 17th. JPMorgan Chase & Co. upped their price objective on shares of Valley National Bancorp from $15.00 to $17.50 and gave the stock an “overweight” rating in a report on Wednesday, July 1st. Royal Bank Of Canada raised their target price on Valley National Bancorp from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, April 24th. National Bank Financial set a $17.50 price target on Valley National Bancorp in a research report on Wednesday. Finally, Hovde Group upped their price target on Valley National Bancorp from $16.00 to $16.50 and gave the stock an “outperform” rating in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Valley National Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $15.43.

Valley National Bancorp 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.