Stieven Capital Advisors L.P. Acquires 339,200 Shares of Valley National Bancorp (NASDAQ:VLY)

Stieven Capital Advisors L.P. grew its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 33.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,363,666 shares of the company’s stock after acquiring an additional 339,200 shares during the quarter. Valley National Bancorp comprises 2.2% of Stieven Capital Advisors L.P.’s investment portfolio, making the stock its 18th largest position. Stieven Capital Advisors L.P.’s holdings in Valley National Bancorp were worth $12,355,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Sanctuary Advisors LLC bought a new stake in shares of Valley National Bancorp during the 2nd quarter worth $184,000. CWM LLC lifted its stake in Valley National Bancorp by 171.9% during the third quarter. CWM LLC now owns 22,232 shares of the company’s stock worth $201,000 after purchasing an additional 14,054 shares during the last quarter. Creative Planning boosted its holdings in shares of Valley National Bancorp by 30.3% in the 3rd quarter. Creative Planning now owns 63,665 shares of the company’s stock worth $577,000 after purchasing an additional 14,794 shares in the last quarter. Trust Point Inc. increased its position in shares of Valley National Bancorp by 39.9% during the 3rd quarter. Trust Point Inc. now owns 18,200 shares of the company’s stock valued at $165,000 after purchasing an additional 5,194 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Valley National Bancorp by 48.2% during the 3rd quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock valued at $44,000 after buying an additional 1,564 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Stock Up 0.5 %

Shares of NASDAQ:VLY opened at $9.96 on Friday. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.98 and a quick ratio of 0.98. The stock’s 50-day moving average is $9.66 and its 200 day moving average is $9.31. The company has a market cap of $5.07 billion, a PE ratio of 14.43 and a beta of 1.12.

Valley National Bancorp (NASDAQ:VLY) last announced its earnings results on Thursday, January 23rd. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Valley National Bancorp had a net margin of 10.62% and a return on equity of 5.14%. During the same period in the prior year, the company posted $0.22 EPS. Sell-side analysts anticipate that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were given a $0.11 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.44 annualized dividend and a dividend yield of 4.42%. Valley National Bancorp’s dividend payout ratio is 63.77%.

Analysts Set New Price Targets

VLY has been the subject of several research reports. Stephens reaffirmed an “overweight” rating and issued a $12.50 target price on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Barclays increased their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Royal Bank of Canada boosted their price target on shares of Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Wedbush reiterated a “neutral” rating and issued a $10.00 price objective on shares of Valley National Bancorp in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. increased their target price on Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Valley National Bancorp currently has an average rating of “Hold” and a consensus target price of $10.67.

Insider Activity

In other news, EVP Joseph Chillura sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total value of $510,500.00. Following the completion of the transaction, the executive vice president now owns 495,249 shares in the company, valued at $5,056,492.29. This trade represents a 9.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.88% of the company’s stock.

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.