By otakuyassine3@gmail.com 
StockNews.com downgraded shares of Valley National Bancorp (NASDAQ:VLY – Free Report) from a hold rating to a sell rating in a research note published on Saturday morning.
VLY has been the topic of a number of other reports. Barclays lowered their price target on shares of Valley National Bancorp from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. upped their price objective on shares of Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Piper Sandler raised shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 target price on the stock in a research note on Monday, March 24th. Stephens reissued an “overweight” rating and issued a $12.50 price target on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada lifted their price target on shares of Valley National Bancorp from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $10.67.
Read Our Latest Stock Report on Valley National Bancorp
Valley National Bancorp Trading Up 2.3 %
VLY stock opened at $8.05 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.10. The company’s 50-day simple moving average is $9.10 and its 200-day simple moving average is $9.47. The firm has a market cap of $4.51 billion, a P/E ratio of 11.67 and a beta of 1.06.
Valley National Bancorp (NASDAQ:VLY – Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02). Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. During the same quarter in the previous year, the business posted $0.22 earnings per share. As a group, equities analysts forecast that Valley National Bancorp will post 0.99 EPS for the current fiscal year.
Valley National Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date was Friday, March 14th. Valley National Bancorp’s dividend payout ratio (DPR) is 63.77%.
Insider Transactions at Valley National Bancorp
In related news, EVP Joseph Chillura sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $10.21, for a total transaction of $510,500.00. Following the sale, the executive vice president now directly owns 495,249 shares of the company’s stock, valued at $5,056,492.29. This represents a 9.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.88% of the company’s stock.
Institutional Trading of Valley National Bancorp
Large investors have recently modified their holdings of the stock. R Squared Ltd acquired a new position in Valley National Bancorp during the 4th quarter worth $25,000. Farther Finance Advisors LLC grew its position in shares of Valley National Bancorp by 206.6% during the first quarter. Farther Finance Advisors LLC now owns 4,298 shares of the company’s stock worth $38,000 after buying an additional 2,896 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Valley National Bancorp during the fourth quarter worth approximately $39,000. Optiver Holding B.V. increased its stake in shares of Valley National Bancorp by 80.9% during the fourth quarter. Optiver Holding B.V. now owns 5,079 shares of the company’s stock worth $46,000 after buying an additional 2,271 shares during the period. Finally, UMB Bank n.a. raised its holdings in Valley National Bancorp by 219.6% in the first quarter. UMB Bank n.a. now owns 5,571 shares of the company’s stock valued at $50,000 after acquiring an additional 3,828 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.
Valley National Bancorp Company 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.
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