Valley National Bancorp (NASDAQ:VLYPP) Sees Large Increase in Short Interest

Valley National Bancorp (NASDAQ:VLYPP) was the target of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 38,575 shares, an increase of 44.4% from the February 12th total of 26,710 shares. Based on an average daily volume of 7,310 shares, the days-to-cover ratio is presently 5.3 days. Based on an average daily volume of 7,310 shares, the days-to-cover ratio is presently 5.3 days.

Valley National Bancorp Price Performance

Shares of VLYPP stock opened at $24.68 on Monday. Valley National Bancorp has a 12-month low of $21.71 and a 12-month high of $26.11. The firm has a 50-day moving average price of $25.28 and a 200 day moving average price of $25.34.

Valley National Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, March 13th will be paid a $0.4873 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.95 dividend on an annualized basis and a dividend yield of 7.9%.

About Valley National Bancorp

Valley National Bancorp (NASDAQ: VLYPP) is a bank holding company headquartered in Wayne, New Jersey, whose principal subsidiary, Valley Bank, delivers a full spectrum of financial services. Founded in 1927 as The Bank of Passaic County, the company has grown through strategic acquisitions and organic expansion to become a regional banking franchise. Valley National Bancorp provides commercial and consumer banking services, with offerings that include deposit accounts, business and agricultural lending, residential real estate financing, and treasury management solutions.

In addition to core lending and deposit-taking activities, Valley National Bancorp operates specialized businesses covering mortgage banking, wealth management, and insurance services.