Mutual of America Capital Management LLC Sells 13,662 Shares of Valley National Bancorp (NASDAQ:VLY)

Mutual of America Capital Management LLC cut its holdings in Valley National Bancorp (NASDAQ:VLY) by 4.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 263,481 shares of the company’s stock after selling 13,662 shares during the period. Mutual of America Capital Management LLC’s holdings in Valley National Bancorp were worth $2,861,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Trexquant Investment LP lifted its stake in 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 purchasing an additional 37,331 shares during the last quarter. Wellington Management Group LLP increased 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 valued at $38,037,000 after acquiring an additional 2,301,128 shares during the period. UBS Group AG increased its position in shares of Valley National Bancorp by 155.7% in the third quarter. UBS Group AG now owns 308,603 shares of the company’s stock valued at $2,642,000 after acquiring an additional 187,917 shares during the period. Vanguard Group Inc. increased its position in shares of Valley National Bancorp by 0.8% in the third quarter. Vanguard Group Inc. now owns 45,427,144 shares of the company’s stock valued at $388,856,000 after acquiring an additional 356,880 shares during the period. Finally, Sei Investments Co. increased its position in shares of Valley National Bancorp by 10.6% in the third quarter. Sei Investments Co. now owns 1,455,237 shares of the company’s stock valued at $12,457,000 after acquiring an additional 138,906 shares during the period. 61.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VLY. TheStreet cut shares of Valley National Bancorp from a “b-” rating to a “c+” rating in a research report on Tuesday, February 27th. Keefe, Bruyette & Woods decreased their price objective on shares of Valley National Bancorp from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. Morgan Stanley boosted their price objective on shares of Valley National Bancorp from $8.50 to $9.00 and gave the company an “underweight” rating in a research report on Wednesday, February 7th. Barclays started coverage on shares of Valley National Bancorp in a research report on Friday, March 8th. They issued an “underweight” rating and a $8.00 price objective on the stock. Finally, StockNews.com cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, February 16th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Valley National Bancorp has an average rating of “Hold” and a consensus price target of $9.67.

Insiders Place Their Bets

In other Valley National Bancorp news, EVP Joseph Chillura sold 49,715 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $8.18, for a total value of $406,668.70. Following the sale, the executive vice president now owns 545,249 shares in the company, valued at $4,460,136.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.88% of the company’s stock.

Valley National Bancorp Price Performance

Shares of NASDAQ VLY opened at $7.31 on Friday. The stock has a market capitalization of $3.72 billion, a P/E ratio of 7.69 and a beta of 1.09. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99. Valley National Bancorp has a 1 year low of $6.39 and a 1 year high of $11.22. The company’s 50-day moving average is $7.91 and its 200 day moving average is $8.83.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, January 25th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). The business had revenue of $449.97 million during the quarter, compared to analysts’ expectations of $467.49 million. Valley National Bancorp had a return on equity of 8.67% and a net margin of 14.82%. During the same quarter last year, the company posted $0.35 EPS. On average, sell-side analysts expect that Valley National Bancorp will post 0.93 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 14th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 6.02%. The ex-dividend date was Wednesday, March 13th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 46.32%.

Valley National Bancorp 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.