WBI Investments LLC Cuts Stake in Valley National Bancorp (NASDAQ:VLY)

WBI Investments LLC cut its position in Valley National Bancorp (NASDAQ:VLY) by 18.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,370 shares of the company’s stock after selling 9,103 shares during the period. WBI Investments LLC’s holdings in Valley National Bancorp were worth $438,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of VLY. Vanguard Group Inc. lifted its stake in shares of Valley National Bancorp by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 45,427,144 shares of the company’s stock worth $388,856,000 after acquiring an additional 356,880 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Valley National Bancorp by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 24,889,858 shares of the company’s stock worth $270,309,000 after acquiring an additional 1,257,800 shares during the period. American Century Companies Inc. lifted its stake in shares of Valley National Bancorp by 7.6% in the 3rd quarter. American Century Companies Inc. now owns 13,025,530 shares of the company’s stock worth $111,499,000 after acquiring an additional 920,140 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Valley National Bancorp by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,294,793 shares of the company’s stock valued at $68,361,000 after purchasing an additional 259,796 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Valley National Bancorp by 3.3% in the 4th quarter. Victory Capital Management Inc. now owns 5,093,370 shares of the company’s stock valued at $55,314,000 after purchasing an additional 161,121 shares in the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Valley National Bancorp news, EVP Joseph Chillura sold 49,715 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $8.18, for a total transaction of $406,668.70. Following the transaction, the executive vice president now owns 545,249 shares in the company, valued at $4,460,136.82. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.88% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. TheStreet downgraded shares of Valley National Bancorp from a “b-” rating to a “c+” rating in a report on Tuesday, February 27th. Morgan Stanley raised their price target on shares of Valley National Bancorp from $8.50 to $9.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods decreased their price target on shares of Valley National Bancorp from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, January 26th. StockNews.com raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Finally, Royal Bank of Canada decreased their target price on shares of Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.33.

Valley National Bancorp Stock Performance

Shares of NASDAQ VLY traded down $0.12 during trading hours on Thursday, reaching $7.54. The stock had a trading volume of 814,299 shares, compared to its average volume of 5,815,272. The business’s fifty day moving average is $7.64 and its two-hundred day moving average is $8.77. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 9.01 and a beta of 1.10. Valley National Bancorp has a twelve month low of $6.97 and a twelve month high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last announced its earnings results on Thursday, April 25th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The business had revenue of $890.07 million during the quarter, compared to analyst estimates of $447.38 million. Valley National Bancorp had a net margin of 12.88% and a return on equity of 7.74%. During the same quarter last year, the business posted $0.30 earnings per share. As a group, research analysts expect that Valley National Bancorp will post 0.87 EPS for the current year.

Valley National Bancorp 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.