Valley National Bancorp (NASDAQ:VLY) CAO Mitchell Crandell Sells 25,495 Shares

Valley National Bancorp (NASDAQ:VLY) CAO Mitchell Crandell sold 25,495 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $14.63, for a total transaction of $372,991.85. Following the completion of the transaction, the chief accounting officer directly owned 76,116 shares of the company’s stock, valued at approximately $1,113,577.08. The trade was a 25.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Valley National Bancorp Stock Down 1.4%

NASDAQ:VLY traded down $0.21 on Monday, reaching $14.43. The stock had a trading volume of 1,830,324 shares, compared to its average volume of 7,284,482. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $13.40 and a 200 day moving average of $12.64. The stock has a market cap of $7.99 billion, a P/E ratio of 13.00 and a beta of 1.04. Valley National Bancorp has a 12-month low of $8.36 and a 12-month high of $14.72.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $531.89 million. Valley National Bancorp had a net margin of 18.61% and a return on equity of 8.68%. During the same quarter in the previous year, the firm earned $0.18 earnings per share. On average, research analysts predict that Valley National Bancorp will post 1.29 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, June 15th. Valley National Bancorp’s payout ratio is 39.64%.

Institutional Investors Weigh In On Valley National Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Cedar Mountain Advisors LLC acquired a new stake in Valley National Bancorp in the 1st quarter valued at about $26,000. Assetmark Inc. lifted its holdings in Valley National Bancorp by 123.7% in the 1st quarter. Assetmark Inc. now owns 2,150 shares of the company’s stock valued at $26,000 after acquiring an additional 1,189 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Valley National Bancorp during the fourth quarter valued at about $26,000. First Horizon Corp boosted its stake in Valley National Bancorp by 52.5% in the 4th quarter. First Horizon Corp now owns 3,219 shares of the company’s stock worth $38,000 after purchasing an additional 1,108 shares during the period. Finally, Geneos Wealth Management Inc. acquired a new position in Valley National Bancorp in the 4th quarter worth approximately $39,000. 61.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VLY has been the subject of a number of research analyst reports. Piper Sandler restated an “overweight” rating and issued a $16.00 price target (up from $15.50) on shares of Valley National Bancorp in a research note on Monday, April 27th. JPMorgan Chase & Co. lifted their price target on shares of Valley National Bancorp from $14.50 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. National Bank Financial set a $17.00 price target on shares of Valley National Bancorp in a research note on Monday, April 27th. Keefe, Bruyette & Woods lifted their price target on shares of Valley National Bancorp from $13.00 to $14.00 and gave the stock a “market perform” rating in a research note on Thursday, April 9th. Finally, Royal Bank Of Canada boosted their target price on shares of Valley National Bancorp from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.13.

Valley National Bancorp Company Profile

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.