Landscape Capital Management L.L.C. acquired a new position in Valley National Bancorp (NASDAQ:VLY – Free Report) in the 2nd quarter, Holdings Channel reports. The firm acquired 130,071 shares of the company’s stock, valued at approximately $1,906,000.
Several other large investors have also bought and sold shares of the company. Cedar Mountain Advisors LLC purchased a new position in shares of Valley National Bancorp during the 1st quarter worth approximately $26,000. Assetmark Inc. lifted its stake in shares of 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 purchasing an additional 1,189 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Valley National Bancorp during the fourth quarter valued at approximately $26,000. Geneos Wealth Management Inc. bought a new stake in shares of Valley National Bancorp during the fourth quarter valued at approximately $39,000. Finally, Root Financial Partners LLC grew its stake in Valley National Bancorp by 127.3% in the first quarter. Root Financial Partners LLC now owns 3,976 shares of the company’s stock worth $49,000 after purchasing an additional 2,227 shares during the period. 61.00% of the stock is owned by institutional investors.
Valley National Bancorp Stock Up 0.3%
VLY stock opened at $14.16 on Friday. Valley National Bancorp has a twelve month low of $9.64 and a twelve month high of $15.20. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.35. The firm has a market cap of $7.82 billion, a PE ratio of 12.00 and a beta of 1.04. The business has a 50 day moving average of $14.57 and a 200 day moving average of $13.59.
Valley National Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 15th. Valley National Bancorp’s payout ratio is currently 37.29%.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on VLY shares. JPMorgan Chase & Co. decreased their price objective on Valley National Bancorp from $17.50 to $17.00 and set an “overweight” rating for the company in a report on Friday, July 24th. Cantor Fitzgerald boosted their target price on shares of Valley National Bancorp from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods upped their target price on shares of Valley National Bancorp from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. National Bank Financial set a $17.50 price target on shares of Valley National Bancorp in a research note on Wednesday, July 1st. Finally, Piper Sandler lifted their price target on shares of Valley National Bancorp from $16.00 to $16.50 and gave the company an “overweight” rating in a research report on Friday, June 26th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.03.
Get Our Latest Report on Valley National Bancorp
Insider Activity
In related news, CAO Mitchell L. 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 value of $372,991.85. Following the transaction, the chief accounting officer owned 76,116 shares in the company, valued at $1,113,577.08. The trade was a 25.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.06% of the stock is currently owned by corporate insiders.
About Valley National Bancorp
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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