International Assets Investment Management LLC Acquires 17,995 Shares of Valley National Bancorp (NASDAQ:VLY)

International Assets Investment Management LLC grew its holdings in Valley National Bancorp (NASDAQ:VLY) by 986.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,820 shares of the company’s stock after acquiring an additional 17,995 shares during the quarter. International Assets Investment Management LLC’s holdings in Valley National Bancorp were worth $215,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of VLY. SG Americas Securities LLC acquired a new position in Valley National Bancorp in the 3rd quarter worth $1,614,000. Raymond James Financial Services Advisors Inc. boosted its position in shares of Valley National Bancorp by 363.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 192,963 shares of the company’s stock worth $1,652,000 after buying an additional 151,355 shares during the period. Stratos Wealth Partners LTD. bought a new position in shares of Valley National Bancorp during the third quarter worth about $93,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Valley National Bancorp by 19.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 94,594 shares of the company’s stock valued at $810,000 after buying an additional 15,726 shares during the last quarter. Finally, Strs Ohio lifted its stake in Valley National Bancorp by 26.0% in the 3rd quarter. Strs Ohio now owns 36,800 shares of the company’s stock valued at $315,000 after acquiring an additional 7,600 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Valley National Bancorp Trading Down 5.8 %

VLY stock opened at $7.32 on Friday. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 8.61 and a beta of 1.09. The company has a fifty day moving average price of $7.81 and a two-hundred day moving average price of $8.82. Valley National Bancorp has a one year low of $6.39 and a one year high of $11.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.00 and a quick ratio of 0.99.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The company had revenue of $890.07 million during the quarter, compared to analyst estimates of $447.38 million. Valley National Bancorp had a net margin of 12.88% and a return on equity of 7.74%. During the same quarter last year, the company posted $0.30 EPS. Equities analysts anticipate that Valley National Bancorp will post 0.93 EPS for the current year.

Valley National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Thursday, March 14th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.01%. Valley National Bancorp’s dividend payout ratio (DPR) is currently 51.76%.

Insider Buying and Selling

In other Valley National Bancorp news, EVP Joseph Chillura sold 49,715 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $8.18, for a total transaction of $406,668.70. Following the transaction, the executive vice president now owns 545,249 shares in the company, valued at approximately $4,460,136.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.88% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on VLY. Royal Bank of Canada lowered their price objective on shares of Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, April 9th. JPMorgan Chase & Co. cut their price target on shares of Valley National Bancorp from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, April 4th. StockNews.com cut Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Friday, February 16th. Morgan Stanley upped their target price on Valley National Bancorp from $8.50 to $9.00 and gave the stock an “underweight” rating in a report on Wednesday, February 7th. Finally, Barclays began coverage on Valley National Bancorp in a research note on Friday, March 8th. They issued an “underweight” rating and a $8.00 price target for the company. Three research 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, Valley National Bancorp presently has a consensus rating of “Hold” and a consensus target price of $9.33.

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.