Stieven Capital Advisors L.P. Buys 339,200 Shares of Valley National Bancorp (NASDAQ:VLY)

Stieven Capital Advisors L.P. boosted its position in Valley National Bancorp (NASDAQ:VLY) by 33.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,363,666 shares of the company’s stock after buying an additional 339,200 shares during the period. Valley National Bancorp makes up approximately 2.2% of Stieven Capital Advisors L.P.’s portfolio, making the stock its 18th biggest position. Stieven Capital Advisors L.P. owned approximately 0.27% of Valley National Bancorp worth $12,355,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new position in shares of Valley National Bancorp during the third quarter valued at about $25,000. R Squared Ltd bought a new position in Valley National Bancorp in the 4th quarter valued at about $25,000. Blue Trust Inc. boosted its stake in Valley National Bancorp by 48.2% during the 3rd quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock valued at $44,000 after purchasing an additional 1,564 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Valley National Bancorp by 557.0% during the 3rd quarter. International Assets Investment Management LLC now owns 8,679 shares of the company’s stock worth $79,000 after purchasing an additional 7,358 shares in the last quarter. Finally, Greenwich Wealth Management LLC purchased a new stake in shares of Valley National Bancorp in the third quarter worth approximately $95,000. Institutional investors own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on VLY shares. Barclays upped their price target on Valley National Bancorp from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Stephens reiterated an “overweight” rating and issued a $12.50 target price on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Piper Sandler raised their price target on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their price objective on shares of Valley National Bancorp from $10.50 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, StockNews.com cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Valley National Bancorp presently has an average rating of “Hold” and an average target price of $10.67.

Insiders Place Their Bets

In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $10.21, for a total transaction of $510,500.00. Following the sale, the executive vice president now owns 495,249 shares of the company’s stock, 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 SEC, which is available through this link. Company insiders own 1.88% of the company’s stock.

Valley National Bancorp Trading Up 0.5 %

NASDAQ:VLY opened at $9.96 on Friday. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average is $9.66 and its 200 day moving average is $9.31. The stock has a market capitalization of $5.07 billion, a PE ratio of 14.43 and a beta of 1.12.

Valley National Bancorp (NASDAQ:VLY) last issued its earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the business earned $0.22 earnings per share. Sell-side analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.42%. The ex-dividend date was Friday, December 13th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 63.77%.

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.