Zurcher Kantonalbank Zurich Cantonalbank Has $1.09 Million Stake in Valley National Bancorp (NASDAQ:VLY)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Valley National Bancorp (NASDAQ:VLY) by 6.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 100,386 shares of the company’s stock after buying an additional 5,792 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Valley National Bancorp were worth $1,090,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of VLY. Strs Ohio boosted its position in Valley National Bancorp by 5.4% during the fourth quarter. Strs Ohio now owns 38,800 shares of the company’s stock valued at $421,000 after acquiring an additional 2,000 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in Valley National Bancorp during the fourth quarter valued at $1,301,000. Simplicity Solutions LLC bought a new stake in Valley National Bancorp during the fourth quarter valued at $136,000. Cerity Partners LLC bought a new stake in Valley National Bancorp during the fourth quarter valued at $1,623,000. Finally, Sequoia Financial Advisors LLC bought a new stake in Valley National Bancorp during the fourth quarter valued at $460,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Valley National Bancorp Price Performance

Shares of NASDAQ VLY opened at $7.32 on Friday. Valley National Bancorp has a fifty-two week low of $6.39 and a fifty-two week high of $11.22. 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 debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 1.00. The firm’s 50-day simple moving average is $7.81 and its 200 day simple moving average is $8.82.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings results 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). Valley National Bancorp had a net margin of 12.88% and a return on equity of 7.74%. The business had revenue of $890.07 million during the quarter, compared to the consensus estimate of $447.38 million. During the same period in the previous year, the business posted $0.30 EPS. As a group, research analysts anticipate that Valley National Bancorp will post 0.93 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Thursday, March 14th were given a $0.11 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.44 annualized dividend and a yield of 6.01%. Valley National Bancorp’s payout ratio is 51.76%.

Wall Street Analyst Weigh In

A number of brokerages have commented on VLY. Barclays began coverage on shares of Valley National Bancorp in a research report on Friday, March 8th. They set an “underweight” rating and a $8.00 price target on the stock. JPMorgan Chase & Co. cut their price objective 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 shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, February 16th. Keefe, Bruyette & Woods cut 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. Finally, Morgan Stanley increased their price objective on shares of Valley National Bancorp from $8.50 to $9.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $9.33.

Insider Activity at Valley National Bancorp

In related news, EVP Joseph Chillura sold 49,715 shares of the firm’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 transaction, the executive vice president now owns 545,249 shares of the company’s stock, valued at approximately $4,460,136.82. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.