Wolverine Asset Management LLC Makes New $40,000 Investment in Valley National Bancorp (NASDAQ:VLY)

Wolverine Asset Management LLC bought a new stake in Valley National Bancorp (NASDAQ:VLY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,669 shares of the company’s stock, valued at approximately $40,000.

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

Insider Activity at Valley National Bancorp

In other Valley National Bancorp 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 transaction of $406,668.70. Following the sale, the executive vice president now directly owns 545,249 shares of the company’s stock, valued at approximately $4,460,136.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.88% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. TheStreet cut Valley National Bancorp from a “b-” rating to a “c+” rating in a report on Tuesday, February 27th. Royal Bank of Canada reduced their target price on Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday, April 9th. Keefe, Bruyette & Woods lowered their price target on shares of Valley National Bancorp from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, January 26th. Wedbush reduced their price objective on shares of Valley National Bancorp from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday. Finally, StockNews.com downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Friday, February 16th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.33.

Valley National Bancorp Stock Down 5.8 %

VLY stock opened at $7.32 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.00 and a quick ratio of 1.00. Valley National Bancorp has a 12 month low of $6.39 and a 12 month high of $11.22. The firm has a market capitalization of $3.73 billion, a PE ratio of 8.61 and a beta of 1.09. The company’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 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). Valley National Bancorp had a net margin of 12.88% and a return on equity of 7.74%. The company had revenue of $890.07 million for the quarter, compared to analyst estimates of $447.38 million. During the same quarter last year, the company posted $0.30 EPS. Equities analysts expect that Valley National Bancorp will post 0.9 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

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

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.