Private Portfolio Partners LLC Has $131,000 Stake in Valley National Bancorp (NASDAQ:VLY)

Private Portfolio Partners LLC increased its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 15.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,459 shares of the company’s stock after purchasing an additional 1,959 shares during the quarter. Private Portfolio Partners LLC’s holdings in Valley National Bancorp were worth $131,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. R Squared Ltd purchased a new stake in Valley National Bancorp in the 4th quarter worth approximately $25,000. Sapient Capital LLC bought a new stake in shares of Valley National Bancorp in the 4th quarter valued at approximately $103,000. Meiji Yasuda Asset Management Co Ltd. increased its holdings in Valley National Bancorp by 9.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company’s stock worth $104,000 after buying an additional 1,002 shares during the last quarter. Financial Engines Advisors L.L.C. acquired a new stake in Valley National Bancorp in the fourth quarter valued at approximately $104,000. Finally, Empowered Funds LLC grew its position in Valley National Bancorp by 12.0% in the fourth quarter. Empowered Funds LLC now owns 12,812 shares of the company’s stock worth $116,000 after acquiring an additional 1,371 shares in the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on VLY shares. Piper Sandler raised shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 price objective for the company in a research note on Monday, March 24th. Stephens reaffirmed an “overweight” rating and issued a $12.50 price target on shares of Valley National Bancorp in a research report on Thursday, January 2nd. Citigroup increased their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Royal Bank of Canada boosted their target price on Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Finally, Barclays upped their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.78.

Insider Activity

In other news, EVP Joseph Chillura sold 50,000 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 495,249 shares in the company, valued at approximately $5,056,492.29. This trade represents a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.88% of the stock is currently owned by corporate insiders.

Valley National Bancorp Price Performance

NASDAQ:VLY opened at $9.06 on Thursday. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 13.13 and a beta of 1.11. The company has a 50-day moving average of $9.52 and a 200-day moving average of $9.52. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.98 and a current ratio of 0.98.

Valley National Bancorp (NASDAQ:VLY) last issued its earnings results on Thursday, January 23rd. The company reported $0.13 EPS for the quarter, missing the consensus estimate 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 quarter last year, the company posted $0.22 earnings per share. As a group, equities research analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend was Friday, March 14th. Valley National Bancorp’s payout ratio is 63.77%.

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.