Corient Private Wealth LLC Decreases Stock Position in Valley National Bancorp (NASDAQ:VLY)

Corient Private Wealth LLC trimmed its holdings in Valley National Bancorp (NASDAQ:VLYFree Report) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 76,767 shares of the company’s stock after selling 1,799 shares during the period. Corient Private Wealth LLC’s holdings in Valley National Bancorp were worth $834,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VLY. GAMMA Investing LLC acquired a new stake in shares of Valley National Bancorp during the fourth quarter valued at $35,000. Wolverine Asset Management LLC acquired a new stake in shares of Valley National Bancorp during the 4th quarter worth about $40,000. Jump Financial LLC purchased a new stake in shares of Valley National Bancorp during the third quarter worth about $93,000. Simplicity Solutions LLC acquired a new position in shares of Valley National Bancorp in the fourth quarter valued at approximately $136,000. Finally, Bleakley Financial Group LLC acquired a new position in shares of Valley National Bancorp in the fourth quarter valued at approximately $137,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

Insider Buying and Selling at Valley National Bancorp

In other Valley National Bancorp news, EVP Joseph Chillura sold 25,000 shares of Valley National Bancorp stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $7.43, for a total transaction of $185,750.00. Following the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $74,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Andrew B. Abramson sold 16,451 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $7.72, for a total transaction 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 filing with the SEC, which is available at this hyperlink. Also, EVP Joseph Chillura sold 25,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $7.43, for a total transaction of $185,750.00. Following the transaction, the executive vice president now owns 10,000 shares in the company, valued at approximately $74,300. The disclosure for this sale can be found here. Insiders sold a total of 91,166 shares of company stock worth $719,420 over the last ninety days. Company insiders own 1.88% of the company’s stock.

Valley National Bancorp Stock Performance

Shares of VLY stock opened at $6.78 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. The company has a market cap of $3.45 billion, a PE ratio of 7.98 and a beta of 1.10. The company’s fifty day simple moving average is $7.54 and its 200-day simple moving average is $8.69. Valley National Bancorp has a 52 week low of $6.72 and a 52 week high of $11.22.

Valley National Bancorp (NASDAQ:VLYGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The company had revenue of $890.07 million for the quarter, compared to analyst estimates of $447.38 million. Valley National Bancorp had a return on equity of 7.74% and a net margin of 12.88%. During the same period in the previous year, the business posted $0.30 EPS. As a group, equities research analysts anticipate that Valley National Bancorp will post 0.87 EPS for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Thursday, June 13th will be given a $0.11 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.49%. Valley National Bancorp’s payout ratio is currently 51.76%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $8.00 target price (down previously from $12.00) on shares of Valley National Bancorp in a research report on Friday, May 31st. TheStreet downgraded Valley National Bancorp from a “b-” rating to a “c+” rating in a research report on Tuesday, February 27th. JPMorgan Chase & Co. dropped their target price on Valley National Bancorp from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, April 4th. StockNews.com raised Valley National Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Citigroup dropped their price objective on shares of Valley National Bancorp from $11.00 to $8.50 and set a “neutral” rating for the company in a research note on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Valley National Bancorp presently has a consensus rating of “Hold” and a consensus price target of $8.89.

Check Out Our Latest Stock Analysis on VLY

Valley National Bancorp Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Valley National Bancorp (NASDAQ:VLY)

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