Leeward Investments LLC MA Lowers Position in Valley National Bancorp (NASDAQ:VLY)

Leeward Investments LLC MA cut its stake in Valley National Bancorp (NASDAQ:VLY) by 7.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,761,091 shares of the company’s stock after selling 132,897 shares during the quarter. Leeward Investments LLC MA’s holdings in Valley National Bancorp were worth $15,955,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of VLY. Geode Capital Management LLC lifted its holdings in shares of Valley National Bancorp by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,164,934 shares of the company’s stock valued at $101,170,000 after purchasing an additional 300,385 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Valley National Bancorp by 384.2% during the third quarter. Wellington Management Group LLP now owns 8,970,862 shares of the company’s stock valued at $81,276,000 after purchasing an additional 7,118,044 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Valley National Bancorp by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,971,223 shares of the company’s stock valued at $63,159,000 after purchasing an additional 98,574 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Valley National Bancorp by 1,501.7% during the third quarter. Victory Capital Management Inc. now owns 5,676,685 shares of the company’s stock valued at $51,431,000 after purchasing an additional 5,322,278 shares during the last quarter. Finally, Basswood Capital Management L.L.C. purchased a new position in shares of Valley National Bancorp during the third quarter valued at approximately $19,399,000. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on VLY shares. Stephens reiterated an “overweight” rating and set a $12.50 target price on shares of Valley National Bancorp in a report on Thursday, January 2nd. StockNews.com downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. raised their price target on shares of Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Barclays raised their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Finally, Citigroup raised their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, 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 value of $510,500.00. Following the sale, the executive vice president now 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.88% of the company’s stock.

Valley National Bancorp Stock Down 3.2 %

VLY opened at $9.53 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.98 and a current ratio of 0.98. Valley National Bancorp has a fifty-two week low of $6.47 and a fifty-two week high of $11.10. The firm’s fifty day moving average is $9.62 and its 200 day moving average is $9.37. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 13.81 and a beta of 1.12.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share 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 posted $0.22 EPS. On average, sell-side analysts forecast that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend is Friday, March 14th. Valley National Bancorp’s payout ratio is currently 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.