Private Portfolio Partners LLC Has $131,000 Stock Holdings in Valley National Bancorp (NASDAQ:VLY)

Private Portfolio Partners LLC boosted its position in shares of Valley National Bancorp (NASDAQ:VLY) by 15.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,459 shares of the company’s stock after purchasing an additional 1,959 shares during the quarter. Private Portfolio Partners LLC’s holdings in Valley National Bancorp were worth $131,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Valley National Bancorp by 9.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company’s stock valued at $104,000 after buying an additional 1,002 shares during the period. United Services Automobile Association grew its stake in Valley National Bancorp by 3.7% in the fourth quarter. United Services Automobile Association now owns 28,702 shares of the company’s stock valued at $260,000 after acquiring an additional 1,029 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Valley National Bancorp by 2.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 48,118 shares of the company’s stock valued at $436,000 after purchasing an additional 1,046 shares in the last quarter. Empowered Funds LLC increased its stake in Valley National Bancorp by 12.0% during the 4th quarter. Empowered Funds LLC now owns 12,812 shares of the company’s stock worth $116,000 after purchasing an additional 1,371 shares in the last quarter. Finally, Townsquare Capital LLC increased its position in shares of Valley National Bancorp by 11.8% during the third quarter. Townsquare Capital LLC now owns 14,365 shares of the company’s stock worth $130,000 after acquiring an additional 1,521 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VLY has been the subject of several research reports. Piper Sandler raised shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 price target for the company in a research note on Monday, March 24th. Barclays boosted their price target on Valley National Bancorp from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Stephens restated an “overweight” rating and set a $12.50 price objective on shares of Valley National Bancorp in a research note on Thursday, January 2nd. JPMorgan Chase & Co. upped their target price 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. Finally, Citigroup boosted their price target on Valley National Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.78.

Valley National Bancorp Trading Up 1.9 %

Shares of VLY stock opened at $9.06 on Thursday. Valley National Bancorp has a 12-month low of $6.47 and a 12-month high of $11.10. The company has a market capitalization of $5.08 billion, a PE ratio of 13.13 and a beta of 1.11. The firm has a 50 day moving average price of $9.52 and a two-hundred day moving average price of $9.52. 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 (NASDAQ:VLY) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share 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 period last year, the firm earned $0.22 EPS. As a group, analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 annualized dividend and a dividend yield of 4.86%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 63.77%.

Insider Buying and Selling

In related news, EVP Joseph Chillura sold 50,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total transaction of $510,500.00. Following the sale, the executive vice president now owns 495,249 shares of the company’s stock, valued at $5,056,492.29. This represents a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.88% of the stock is owned by insiders.

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.