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

Valley National Bancorp (NASDAQ:VLYPP) was the recipient of a significant drop in short interest in March. As of March 13th, there was short interest totaling 33,277 shares, a drop of 13.7% from the February 26th total of 38,575 shares. Based on an average daily volume of 5,352 shares, the days-to-cover ratio is presently 6.2 days.

Valley National Bancorp Stock Performance

Shares of VLYPP opened at $24.85 on Wednesday. The company’s fifty day moving average is $25.14 and its 200 day moving average is $25.27. Valley National Bancorp has a fifty-two week low of $21.71 and a fifty-two week high of $26.11.

Valley National Bancorp Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Friday, March 13th were issued a $0.4873 dividend. The ex-dividend date was Friday, March 13th. This represents a $1.95 dividend on an annualized basis and a dividend yield of 7.8%.

Valley National Bancorp Company Profile

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.