Amalgamated Bank Sells 7,491 Shares of Valley National Bancorp (NASDAQ:VLY)

Amalgamated Bank cut its position in Valley National Bancorp (NASDAQ:VLYFree Report) by 3.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 246,224 shares of the company’s stock after selling 7,491 shares during the period. Amalgamated Bank’s holdings in Valley National Bancorp were worth $2,108,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. boosted its position in Valley National Bancorp by 76.9% in the second quarter. Cullen Frost Bankers Inc. now owns 23,000 shares of the company’s stock valued at $178,000 after buying an additional 10,000 shares in the last quarter. Victory Capital Management Inc. boosted its position in Valley National Bancorp by 2.3% in the third quarter. Victory Capital Management Inc. now owns 4,932,249 shares of the company’s stock valued at $42,220,000 after buying an additional 111,771 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Valley National Bancorp by 363.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 192,963 shares of the company’s stock valued at $1,652,000 after buying an additional 151,355 shares in the last quarter. Swiss National Bank boosted its position in Valley National Bancorp by 1.2% in the second quarter. Swiss National Bank now owns 939,660 shares of the company’s stock valued at $7,282,000 after buying an additional 10,700 shares in the last quarter. Finally, Greenwich Wealth Management LLC acquired a new position in Valley National Bancorp in the second quarter valued at about $86,000. 60.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on VLY shares. Wedbush dropped their target price on shares of Valley National Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, January 26th. TheStreet raised shares of Valley National Bancorp from a “c+” rating to a “b-” rating in a research note on Thursday, December 14th. Citigroup started coverage on shares of Valley National Bancorp in a research note on Friday, December 1st. They issued a “neutral” rating and a $9.50 target price for the company. Keefe, Bruyette & Woods dropped their target price on shares of Valley National Bancorp from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. Finally, Piper Sandler dropped their target price on shares of Valley National Bancorp from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.33.

View Our Latest Report on VLY

Valley National Bancorp Trading Up 5.6 %

VLY opened at $8.90 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 9.37 and a beta of 1.14. The firm has a 50 day simple moving average of $10.19 and a 200 day simple moving average of $9.27. Valley National Bancorp has a fifty-two week low of $6.39 and a fifty-two week high of $12.42.

Valley National Bancorp (NASDAQ:VLYGet Free Report) last issued its earnings results on Thursday, January 25th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.03). Valley National Bancorp had a net margin of 14.82% and a return on equity of 8.67%. The firm had revenue of $449.97 million during the quarter, compared to the consensus estimate of $467.49 million. During the same period in the previous year, the company posted $0.35 EPS. On average, sell-side analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Thursday, December 14th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 4.94%. The ex-dividend date was Wednesday, December 13th. Valley National Bancorp’s payout ratio is presently 46.32%.

About Valley National Bancorp

(Free Report)

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, retail, insurance, and wealth management financial services products. It operates through Consumer Banking, Commercial Banking, and Treasury and Corporate other segments. The company offers non-interest bearing, savings, NOW, money market, and time deposit accounts; commercial and industrial, commercial real estate, residential mortgage, and automobile loans; loans secured by the cash surrender value of life insurance; home equity loans and lines of credit; and secured and unsecured other consumer loans.

See Also

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

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