Kestra Investment Management LLC Purchases 22,636 Shares of Valley National Bancorp (NASDAQ:VLY)

Kestra Investment Management LLC lifted its position in Valley National Bancorp (NASDAQ:VLY) by 39.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,452 shares of the company’s stock after acquiring an additional 22,636 shares during the quarter. Kestra Investment Management LLC’s holdings in Valley National Bancorp were worth $720,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new stake in shares of Valley National Bancorp in the 3rd quarter worth $25,000. R Squared Ltd bought a new stake in shares of Valley National Bancorp in the 4th quarter worth $25,000. Blue Trust Inc. grew its stake in shares of Valley National Bancorp by 48.2% in the 3rd quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock worth $44,000 after acquiring an additional 1,564 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Valley National Bancorp by 557.0% in the 3rd quarter. International Assets Investment Management LLC now owns 8,679 shares of the company’s stock worth $79,000 after acquiring an additional 7,358 shares in the last quarter. Finally, Greenwich Wealth Management LLC bought a new position in Valley National Bancorp during the third quarter valued at about $95,000. Institutional investors own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Barclays increased 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. Piper Sandler increased 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. increased 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. Finally, Royal Bank of Canada increased their price target on shares of Valley National Bancorp from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.67.

Valley National Bancorp Price Performance

Shares of NASDAQ:VLY opened at $10.05 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $5.12 billion, a PE ratio of 14.57 and a beta of 1.12. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10. The company has a 50-day moving average price of $9.65 and a two-hundred day moving average price of $9.34.

Valley National Bancorp (NASDAQ:VLY) last announced 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 return on equity of 5.14% and a net margin of 10.62%. During the same quarter in the previous year, the company earned $0.22 earnings per share. Equities analysts forecast that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date was Friday, December 13th. Valley National Bancorp’s payout ratio is 63.77%.

Insider Transactions at Valley National Bancorp

In other news, EVP Joseph Chillura sold 50,000 shares of the stock in a transaction dated 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 directly owns 495,249 shares of the company’s stock, valued at approximately $5,056,492.29. This represents a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.88% of the company’s stock.

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.