Mutual of America Capital Management LLC Sells 13,662 Shares of Valley National Bancorp (NASDAQ:VLY)

Mutual of America Capital Management LLC trimmed its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,481 shares of the company’s stock after selling 13,662 shares during the quarter. Mutual of America Capital Management LLC owned 0.05% of Valley National Bancorp worth $2,861,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP lifted its position in shares of Valley National Bancorp by 198.1% in the 1st quarter. Quarry LP now owns 3,070 shares of the company’s stock worth $28,000 after purchasing an additional 2,040 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Valley National Bancorp by 46.3% in the 4th quarter. Advisors Asset Management Inc. now owns 5,152 shares of the company’s stock worth $58,000 after purchasing an additional 1,631 shares during the period. Covestor Ltd lifted its position in shares of Valley National Bancorp by 73.0% in the 1st quarter. Covestor Ltd now owns 6,213 shares of the company’s stock worth $81,000 after purchasing an additional 2,622 shares during the period. Advisory Services Network LLC lifted its position in shares of Valley National Bancorp by 24.4% in the 1st quarter. Advisory Services Network LLC now owns 8,665 shares of the company’s stock worth $80,000 after purchasing an additional 1,700 shares during the period. Finally, Creative Planning lifted its position in shares of Valley National Bancorp by 6,274.7% in the 2nd quarter. Creative Planning now owns 10,072 shares of the company’s stock worth $105,000 after purchasing an additional 9,914 shares during the period. 61.00% of the stock is owned by institutional investors.

Insider Activity at Valley National Bancorp

In other Valley National Bancorp news, EVP Joseph Chillura sold 49,715 shares of Valley National Bancorp stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $8.18, for a total transaction of $406,668.70. Following the transaction, the executive vice president now owns 545,249 shares of the company’s stock, valued at approximately $4,460,136.82. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.88% of the stock is owned by insiders.

Valley National Bancorp Price Performance

Shares of NASDAQ VLY opened at $7.31 on Friday. Valley National Bancorp has a fifty-two week low of $6.39 and a fifty-two week high of $11.22. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of 7.69 and a beta of 1.09. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s 50-day simple moving average is $7.91 and its 200 day simple moving average is $8.83.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings results on Thursday, January 25th. The company reported $0.22 earnings per share 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 business 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 business posted $0.35 EPS. As a group, research analysts anticipate that Valley National Bancorp will post 0.93 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Thursday, March 14th were given a $0.11 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.44 annualized dividend and a yield of 6.02%. Valley National Bancorp’s payout ratio is 46.32%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VLY. StockNews.com downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. dropped their target price on shares of Valley National Bancorp from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, April 4th. Barclays assumed coverage on shares of Valley National Bancorp in a research report on Friday, March 8th. They set an “underweight” rating and a $8.00 target price on the stock. Morgan Stanley boosted their target price on shares of Valley National Bancorp from $8.50 to $9.00 and gave the company an “underweight” rating in a research report on Wednesday, February 7th. Finally, Citigroup dropped their target price on shares of Valley National Bancorp from $11.00 to $8.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 13th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.67.

Valley National Bancorp Company 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.