Severin Investments LLC Invests $517,000 in Valley National Bancorp $VLY

Severin Investments LLC acquired a new position in shares of Valley National Bancorp (NASDAQ:VLY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 44,248 shares of the company’s stock, valued at approximately $517,000.

Other hedge funds have also made changes to their positions in the company. First Horizon Corp boosted its holdings in shares of Valley National Bancorp by 52.5% during the fourth quarter. First Horizon Corp now owns 3,219 shares of the company’s stock worth $38,000 after purchasing an additional 1,108 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Valley National Bancorp during the fourth quarter worth $39,000. Smartleaf Asset Management LLC boosted its holdings in shares of Valley National Bancorp by 77.4% during the third quarter. Smartleaf Asset Management LLC now owns 4,574 shares of the company’s stock worth $48,000 after purchasing an additional 1,996 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Valley National Bancorp during the third quarter worth $55,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Valley National Bancorp by 244.7% during the second quarter. EverSource Wealth Advisors LLC now owns 5,884 shares of the company’s stock worth $53,000 after purchasing an additional 4,177 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Valley National Bancorp Trading Down 0.4%

Shares of VLY opened at $13.64 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $7.56 billion, a P/E ratio of 12.29 and a beta of 1.04. The stock’s fifty day simple moving average is $12.96 and its 200 day simple moving average is $12.38. Valley National Bancorp has a twelve month low of $8.36 and a twelve month high of $14.12.

Valley National Bancorp (NASDAQ:VLY) last issued its earnings results on Thursday, April 23rd. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.02. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $531.89 million. Valley National Bancorp had a return on equity of 8.68% and a net margin of 18.61%.During the same period last year, the company posted $0.18 EPS. On average, equities research analysts forecast that Valley National Bancorp will post 1.29 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, June 15th. Valley National Bancorp’s dividend payout ratio (DPR) is 39.64%.

Insider Buying and Selling

In other Valley National Bancorp news, COO Russell Barrett sold 90,537 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $13.54, for a total value of $1,225,870.98. Following the transaction, the chief operating officer directly owned 64,167 shares of the company’s stock, valued at $868,821.18. This trade represents a 58.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. TD Cowen raised their price objective on Valley National Bancorp from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Keefe, Bruyette & Woods raised their price objective on Valley National Bancorp from $13.00 to $14.00 and gave the stock a “market perform” rating in a report on Thursday, April 9th. National Bank Financial set a $17.00 price objective on Valley National Bancorp in a report on Monday, April 27th. Cantor Fitzgerald increased their target price on Valley National Bancorp from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Finally, Barclays increased their target price on Valley National Bancorp from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Valley National Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $15.13.

Valley National Bancorp Company Profile

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.