Traders Purchase Large Volume of Valley National Bancorp Call Options (NASDAQ:VLY)

Valley National Bancorp (NASDAQ:VLY) was the target of some unusual options trading on Monday. Stock investors bought 30,050 call options on the stock. This represents an increase of 372% compared to the average volume of 6,369 call options.

Valley National Bancorp Stock Performance

NASDAQ VLY traded up $0.12 during mid-day trading on Monday, reaching $7.87. 4,726,184 shares of the stock were exchanged, compared to its average volume of 5,998,398. The business’s 50 day moving average is $7.19 and its 200-day moving average is $7.81. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.22. The company has a market capitalization of $4.01 billion, a P/E ratio of 9.12 and a beta of 1.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 0.99.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). The firm had revenue of $884.68 million for the quarter, compared to analysts’ expectations of $458.67 million. Valley National Bancorp had a return on equity of 6.53% and a net margin of 10.79%. During the same period last year, the company posted $0.28 earnings per share. On average, equities research analysts forecast that Valley National Bancorp will post 0.74 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Thursday, June 13th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 5.59%. The ex-dividend date was Thursday, June 13th. Valley National Bancorp’s payout ratio is 51.76%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on VLY shares. Wedbush reaffirmed a “neutral” rating and issued a $8.00 target price on shares of Valley National Bancorp in a report on Wednesday, May 22nd. JPMorgan Chase & Co. dropped their price target on Valley National Bancorp from $8.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Keefe, Bruyette & Woods lifted their price target on Valley National Bancorp from $8.00 to $8.50 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Royal Bank of Canada boosted their target price on Valley National Bancorp from $8.00 to $9.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Barclays reduced their price objective on Valley National Bancorp from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Valley National Bancorp presently has a consensus rating of “Hold” and an average price target of $8.67.

Insider Buying and Selling at Valley National Bancorp

In other news, Director Andrew B. Abramson sold 16,451 shares of the firm’s stock in a transaction on 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 directly owns 224,679 shares in the company, valued at approximately $1,734,521.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Andrew B. Abramson sold 16,451 shares of the firm’s stock in a transaction on 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 directly owns 224,679 shares of the company’s stock, valued at approximately $1,734,521.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Joseph Chillura sold 10,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $6.57, for a total value of $65,700.00. Following the completion of the transaction, the executive vice president now directly owns 545,249 shares in the company, valued at $3,582,285.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,451 shares of company stock worth $378,452. Insiders own 1.88% of the company’s stock.

Hedge Funds Weigh In On Valley National Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of VLY. Trust Point Inc. acquired a new stake in Valley National Bancorp during the fourth quarter worth about $276,000. International Assets Investment Management LLC boosted its stake in shares of Valley National Bancorp by 986.0% in the fourth quarter. International Assets Investment Management LLC now owns 19,820 shares of the company’s stock valued at $215,000 after purchasing an additional 17,995 shares during the period. Prime Capital Investment Advisors LLC boosted its stake in shares of Valley National Bancorp by 15.5% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 26,569 shares of the company’s stock valued at $289,000 after purchasing an additional 3,569 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Valley National Bancorp by 60.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 299,963 shares of the company’s stock valued at $3,258,000 after purchasing an additional 113,527 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Valley National Bancorp by 40.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 153,395 shares of the company’s stock valued at $1,666,000 after purchasing an additional 44,385 shares during the period. 61.00% of the stock is owned by hedge funds and other institutional investors.

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.