SG Americas Securities LLC Boosts Stake in Valley National Bancorp $VLY

SG Americas Securities LLC grew its position in shares of Valley National Bancorp (NASDAQ:VLY) by 107.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,219 shares of the company’s stock after acquiring an additional 78,878 shares during the quarter. SG Americas Securities LLC’s holdings in Valley National Bancorp were worth $1,869,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Valley National Bancorp by 5.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 282,143 shares of the company’s stock worth $2,508,000 after purchasing an additional 15,771 shares during the period. Jones Financial Companies Lllp purchased a new position in Valley National Bancorp in the first quarter valued at approximately $191,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Valley National Bancorp by 21.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,445,644 shares of the company’s stock valued at $12,852,000 after buying an additional 255,870 shares in the last quarter. Focus Partners Wealth lifted its position in Valley National Bancorp by 34.9% during the first quarter. Focus Partners Wealth now owns 60,868 shares of the company’s stock valued at $541,000 after buying an additional 15,761 shares in the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in Valley National Bancorp during the second quarter worth approximately $119,000. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Valley National Bancorp

In other Valley National Bancorp news, COO Russell Barrett sold 90,537 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $13.54, for a total value of $1,225,870.98. Following the transaction, the chief operating officer owned 64,167 shares in the company, valued at $868,821.18. The trade was a 58.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Mitchell L. Crandell sold 25,495 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $14.63, for a total transaction of $372,991.85. Following the completion of the transaction, the chief accounting officer directly owned 76,116 shares of the company’s stock, valued at approximately $1,113,577.08. The trade was a 25.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.06% of the company’s stock.

Wall Street Analysts Forecast Growth

VLY has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Valley National Bancorp from $15.00 to $17.50 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley restated a “positive” rating on shares of Valley National Bancorp in a report on Monday. Hovde Group upped their price target on shares of Valley National Bancorp from $16.00 to $16.50 and gave the stock an “outperform” rating in a research report on Tuesday, May 26th. TD Cowen reiterated a “buy” rating on shares of Valley National Bancorp in a report on Wednesday, June 17th. Finally, Keefe, Bruyette & Woods raised their price objective on Valley National Bancorp from $13.00 to $14.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.43.

Valley National Bancorp Stock Down 1.4%

NASDAQ VLY opened at $14.59 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.35. Valley National Bancorp has a fifty-two week low of $8.95 and a fifty-two week high of $14.94. The business has a 50 day moving average price of $13.80 and a two-hundred day moving average price of $12.93. The stock has a market cap of $8.08 billion, a PE ratio of 13.14 and a beta of 1.03.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. Valley National Bancorp had a net margin of 18.61% and a return on equity of 8.68%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $531.89 million. During the same quarter last year, the firm posted $0.18 earnings per share. As a group, sell-side analysts predict that Valley National Bancorp will post 1.29 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, June 15th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 39.64%.

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.