Valley National Bancorp (NASDAQ:VLY) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA trimmed its position in shares of Valley National Bancorp (NASDAQ:VLY) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,893,988 shares of the company’s stock after selling 6,998 shares during the period. Leeward Investments LLC MA’s holdings in Valley National Bancorp were worth $17,160,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VLY. Harbor Capital Advisors Inc. purchased a new position in shares of Valley National Bancorp during the 3rd quarter valued at approximately $25,000. Innealta Capital LLC acquired a new position in Valley National Bancorp in the second quarter worth about $38,000. EntryPoint Capital LLC acquired a new stake in Valley National Bancorp during the first quarter valued at approximately $43,000. Blue Trust Inc. lifted its holdings in Valley National Bancorp by 48.2% during the 3rd quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock worth $44,000 after buying an additional 1,564 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its position in shares of Valley National Bancorp by 416.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 6,201 shares of the company’s stock worth $56,000 after acquiring an additional 5,001 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Valley National Bancorp from $8.00 to $8.50 and gave the company a “market perform” rating in a research note on Friday, July 26th. Morgan Stanley boosted their price objective on shares of Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Barclays raised shares of Valley National Bancorp from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $9.00 to $10.00 in a report on Thursday, October 31st. Piper Sandler raised their price target on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Finally, StockNews.com lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.75.

Valley National Bancorp Price Performance

Shares of NASDAQ:VLY opened at $10.52 on Thursday. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 16.97 and a beta of 1.07. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.22. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $8.92 and a 200 day simple moving average of $8.00.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. The company had revenue of $921.22 million during the quarter, compared to the consensus estimate of $467.87 million. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. During the same period last year, the business earned $0.26 EPS. As a group, sell-side analysts predict that Valley National Bancorp will post 0.66 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 4.18%. The ex-dividend date was Friday, September 13th. Valley National Bancorp’s dividend payout ratio is 70.97%.

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.