Valley National Bancorp Target of Unusually Large Options Trading (NASDAQ:VLY)

Valley National Bancorp (NASDAQ:VLYGet Free Report) saw unusually large options trading activity on Tuesday. Stock traders bought 54,487 call options on the stock. This represents an increase of approximately 420% compared to the average daily volume of 10,479 call options.

Insider Transactions at Valley National Bancorp

In other news, EVP Joseph Chillura sold 25,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $7.43, for a total value of $185,750.00. Following the completion of the sale, the executive vice president now owns 10,000 shares in the company, valued at approximately $74,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Andrew B. Abramson sold 16,451 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $7.72, for a total value of $127,001.72. Following the completion of the sale, the director now owns 224,679 shares in the company, valued at $1,734,521.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph Chillura sold 25,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $7.43, for a total transaction of $185,750.00. Following the completion of the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $74,300. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,166 shares of company stock worth $719,420. Company insiders own 1.88% of the company’s stock.

Institutional Trading of Valley National Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in VLY. GAMMA Investing LLC purchased a new stake in shares of Valley National Bancorp during the fourth quarter valued at $35,000. Wolverine Asset Management LLC purchased a new stake in Valley National Bancorp in the 4th quarter worth about $40,000. EntryPoint Capital LLC purchased a new stake in Valley National Bancorp in the 1st quarter worth about $43,000. Jump Financial LLC purchased a new stake in Valley National Bancorp in the 3rd quarter worth about $93,000. Finally, Simplicity Wealth LLC purchased a new stake in Valley National Bancorp in the 1st quarter worth about $92,000. 61.00% of the stock is currently owned by institutional investors.

Valley National Bancorp Stock Down 2.7 %

VLY stock opened at $6.78 on Wednesday. The stock has a market cap of $3.45 billion, a PE ratio of 7.98 and a beta of 1.10. The firm’s 50-day simple moving average is $7.54 and its 200 day simple moving average is $8.69. Valley National Bancorp has a fifty-two week low of $6.72 and a fifty-two week high of $11.22. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.51.

Valley National Bancorp (NASDAQ:VLYGet Free Report) last issued 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 business had revenue of $890.07 million for 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 period last year, the business posted $0.30 earnings per share. As a group, sell-side analysts predict that Valley National Bancorp will post 0.87 EPS for the current year.

Valley National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Thursday, June 13th will be issued 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

VLY has been the subject of a number of recent research reports. Royal Bank of Canada lowered their price target on shares of 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 restated a “market perform” rating and issued a $8.00 target price (down from $12.00) on shares of Valley National Bancorp in a report on Friday, May 31st. Barclays started coverage on shares of Valley National Bancorp in a report on Friday, March 8th. They issued an “underweight” rating and a $8.00 target price for the company. Citigroup lowered their target price on shares of Valley National Bancorp from $11.00 to $8.50 and set a “neutral” rating for the company in a report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Valley National Bancorp from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.89.

Check Out Our Latest Stock Report on VLY

Valley National Bancorp Company Profile

(Get 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.

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