Valley National Bancorp (NASDAQ:VLY) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA decreased its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 4.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,799,887 shares of the company’s stock after selling 77,735 shares during the period. Leeward Investments LLC MA owned approximately 0.35% of Valley National Bancorp worth $14,327,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of VLY. Trexquant Investment LP boosted its position in shares of Valley National Bancorp by 111.5% in the third quarter. Trexquant Investment LP now owns 70,824 shares of the company’s stock worth $606,000 after buying an additional 37,331 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Valley National Bancorp in the 4th quarter valued at about $1,301,000. Wellington Management Group LLP lifted its position in shares of Valley National Bancorp by 107.4% in the third quarter. Wellington Management Group LLP now owns 4,443,543 shares of the company’s stock worth $38,037,000 after purchasing an additional 2,301,128 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of Valley National Bancorp during the fourth quarter worth approximately $1,623,000. Finally, Charles Schwab Investment Management Inc. grew its position in Valley National Bancorp by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,294,793 shares of the company’s stock valued at $68,361,000 after purchasing an additional 259,796 shares in the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Valley National Bancorp Price Performance

NASDAQ:VLY traded down $0.21 during trading hours on Thursday, reaching $6.70. The company had a trading volume of 3,864,146 shares, compared to its average volume of 5,382,578. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average of $7.15 and a two-hundred day moving average of $8.28. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.22. The firm has a market capitalization of $3.41 billion, a PE ratio of 7.88 and a beta of 1.08.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). The firm had revenue of $890.07 million for the quarter, compared to the consensus estimate of $447.38 million. Valley National Bancorp had a return on equity of 7.74% and a net margin of 12.88%. During the same period in the prior year, the company posted $0.30 earnings per share. Analysts forecast that Valley National Bancorp will post 0.86 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Thursday, June 13th were given a dividend of $0.11 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.57%. Valley National Bancorp’s payout ratio is 51.76%.

Insider Activity at Valley National Bancorp

In related news, Director Andrew B. Abramson sold 16,451 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $7.72, for a total value of $127,001.72. Following the transaction, the director now owns 224,679 shares in the company, valued at $1,734,521.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Andrew B. Abramson sold 16,451 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $7.72, for a total transaction of $127,001.72. Following the completion of the transaction, the director now directly owns 224,679 shares in the company, valued at approximately $1,734,521.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph Chillura sold 25,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $7.43, for a total transaction of $185,750.00. Following the completion of the sale, the executive vice president now owns 10,000 shares in the company, valued at $74,300. The disclosure for this sale can be found here. Insiders sold a total of 51,451 shares of company stock valued at $378,452 over the last quarter. Corporate insiders own 1.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on VLY shares. Citigroup reduced their price target on Valley National Bancorp from $11.00 to $8.50 and set a “neutral” rating for the company in a report on Wednesday, March 13th. JPMorgan Chase & Co. reduced their target price on shares of Valley National Bancorp from $8.50 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Barclays dropped their price target on shares of Valley National Bancorp from $8.00 to $7.00 and set an “underweight” rating on the stock in a research note on Monday, June 24th. StockNews.com raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Royal Bank of Canada lowered their target price on shares of Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Valley National Bancorp presently has a consensus rating of “Hold” and a consensus price target of $8.67.

About Valley National Bancorp

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.