World Investment Advisors Boosts Stake in Valley National Bancorp $VLY

World Investment Advisors increased its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 195.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,417 shares of the company’s stock after purchasing an additional 54,562 shares during the period. World Investment Advisors’ holdings in Valley National Bancorp were worth $963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in VLY. First Horizon Corp raised its holdings in shares of Valley National Bancorp by 52.5% during the fourth 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 last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Valley National Bancorp during the fourth quarter worth $39,000. Smartleaf Asset Management LLC raised its holdings in shares of Valley National Bancorp by 77.4% during the third quarter. Smartleaf Asset Management LLC now owns 4,574 shares of the company’s stock worth $48,000 after purchasing an additional 1,996 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Valley National Bancorp by 244.7% during the second quarter. EverSource Wealth Advisors LLC now owns 5,884 shares of the company’s stock worth $53,000 after purchasing an additional 4,177 shares during the last quarter. Finally, Danske Bank A S purchased a new position in shares of Valley National Bancorp during the third quarter worth $55,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on VLY. TD Cowen raised their target price on shares of Valley National Bancorp from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Piper Sandler reissued an “overweight” rating and set a $16.00 target price (up from $15.50) on shares of Valley National Bancorp in a report on Monday, April 27th. Morgan Stanley reissued an “equal weight” rating and set a $15.00 target price (up from $14.00) on shares of Valley National Bancorp in a report on Wednesday, May 6th. Cantor Fitzgerald lifted their price objective on shares of Valley National Bancorp from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Finally, Barclays lifted their price objective on shares of Valley National Bancorp from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.10.

Insider Transactions at Valley National Bancorp

In related news, COO Russell Barrett sold 90,537 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $13.54, for a total transaction of $1,225,870.98. Following the transaction, the chief operating officer directly owned 64,167 shares in the company, valued at approximately $868,821.18. The trade was a 58.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Carlos J. Vazquez purchased 2,500 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were acquired at an average price of $13.45 per share, for a total transaction of $33,625.00. Following the completion of the transaction, the director directly owned 4,252 shares of the company’s stock, valued at $57,189.40. The trade was a 142.69% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.06% of the company’s stock.

Valley National Bancorp Price Performance

Shares of NASDAQ VLY opened at $12.93 on Monday. The company’s 50-day simple moving average is $12.74 and its 200-day simple moving average is $12.24. Valley National Bancorp has a 52-week low of $8.36 and a 52-week high of $14.12. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of 11.65 and a beta of 1.04. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.35.

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

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were given a dividend of $0.11 per share. The ex-dividend date was Friday, March 13th. This represents a $0.44 dividend on an annualized basis and a yield of 3.4%. Valley National Bancorp’s payout ratio is presently 39.64%.

Valley National Bancorp 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.