Joseph Chillura Sells 50,000 Shares of Valley National Bancorp (NASDAQ:VLY) Stock

Valley National Bancorp (NASDAQ:VLY) EVP Joseph Chillura sold 50,000 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total transaction of $510,500.00. Following the completion of the transaction, the executive vice president now directly owns 495,249 shares in the company, valued at $5,056,492.29. The trade was a 9.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Valley National Bancorp Stock Up 0.3 %

NASDAQ VLY traded up $0.03 during trading hours on Friday, reaching $10.28. 10,461,673 shares of the company’s stock traded hands, compared to its average volume of 9,107,965. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.10. The firm has a market cap of $5.24 billion, a PE ratio of 14.90 and a beta of 1.12. The firm has a 50-day simple moving average of $9.75 and a 200 day simple moving average of $9.13. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.98 and a quick ratio of 0.98.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Valley National Bancorp had a net margin of 10.62% and a return on equity of 5.14%. During the same quarter in the previous year, the firm earned $0.22 EPS. Sell-side analysts anticipate that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a dividend of $0.11 per share. The ex-dividend date was Friday, December 13th. This represents a $0.44 dividend on an annualized basis and a yield of 4.28%. Valley National Bancorp’s dividend payout ratio is currently 63.77%.

Wall Street Analyst Weigh In

VLY has been the topic of several recent research reports. Citigroup increased their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday. Piper Sandler raised their price target on shares of Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Stephens reissued an “overweight” rating and issued a $12.50 price target on shares of Valley National Bancorp in a report on Thursday, January 2nd. Royal Bank of Canada raised their price target on shares of Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Finally, Barclays raised their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Valley National Bancorp currently has an average rating of “Hold” and a consensus price target of $10.67.

Institutional Trading of Valley National Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of VLY. Renaissance Technologies LLC bought a new stake in Valley National Bancorp during the 2nd quarter valued at about $1,174,000. Marshall Wace LLP bought a new stake in Valley National Bancorp during the 2nd quarter valued at about $2,048,000. Millennium Management LLC increased its stake in Valley National Bancorp by 995.0% during the 2nd quarter. Millennium Management LLC now owns 2,775,698 shares of the company’s stock valued at $19,374,000 after purchasing an additional 2,522,204 shares in the last quarter. Algert Global LLC increased its stake in Valley National Bancorp by 114.8% during the 2nd quarter. Algert Global LLC now owns 221,840 shares of the company’s stock valued at $1,548,000 after purchasing an additional 118,551 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in Valley National Bancorp by 461.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 567,303 shares of the company’s stock valued at $3,960,000 after purchasing an additional 466,303 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors.

Valley National Bancorp Company Profile

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, private banking, retail, insurance, and wealth management financial services products. It operates through Consumer Banking, Commercial Banking, and Treasury and Corporate other segments.