Valley National Bancorp (NASDAQ:VLY – Get Free Report) CAO Mitchell Crandell sold 25,495 shares of the business’s stock in a transaction on 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 in the company, valued at $1,113,577.08. This represents a 25.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Valley National Bancorp Stock Performance
Shares of VLY opened at $14.20 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $7.87 billion, a P/E ratio of 12.79 and a beta of 1.03. The company’s fifty day moving average is $13.48 and its two-hundred day moving average is $12.68. Valley National Bancorp has a 1 year low of $8.36 and a 1 year high of $14.72.
Valley National Bancorp (NASDAQ:VLY – Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the company posted $0.18 EPS. On average, sell-side analysts predict that Valley National Bancorp will post 1.29 earnings per share for the current year.
Valley National Bancorp Dividend Announcement
Institutional Investors Weigh In On Valley National Bancorp
Several institutional investors and hedge funds have recently made changes to their positions in VLY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Valley National Bancorp by 5.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 282,143 shares of the company’s stock worth $2,508,000 after buying an additional 15,771 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Valley National Bancorp in the 1st quarter worth about $191,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Valley National Bancorp by 21.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,445,644 shares of the company’s stock worth $12,852,000 after buying an additional 255,870 shares in the last quarter. Focus Partners Wealth boosted its position in shares of Valley National Bancorp by 34.9% in the 1st quarter. Focus Partners Wealth now owns 60,868 shares of the company’s stock worth $541,000 after buying an additional 15,761 shares in the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Valley National Bancorp in the 2nd quarter worth about $119,000. 61.00% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
VLY has been the topic of several recent research reports. Keefe, Bruyette & Woods boosted their price objective on shares of Valley National Bancorp from $13.00 to $14.00 and gave the company a “market perform” rating in a research note on Thursday, April 9th. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price target (up from $15.50) on shares of Valley National Bancorp in a research note on Monday, April 27th. Royal Bank Of Canada upped their price target on shares of Valley National Bancorp from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Cantor Fitzgerald upped their price target on shares of Valley National Bancorp from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $15.00 price target (up from $14.00) on shares of Valley National Bancorp in a research note on Wednesday, May 6th. Two research 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.
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