Pinnacle Associates Ltd. Has $450,000 Stake in Valley National Bancorp (NASDAQ:VLY)

Pinnacle Associates Ltd. trimmed its position in shares of Valley National Bancorp (NASDAQ:VLYFree Report) by 32.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,392 shares of the company’s stock after selling 20,000 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Valley National Bancorp were worth $450,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of VLY. Quarry LP raised its position in shares of Valley National Bancorp by 198.1% during the first 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. US Bancorp DE raised its position in shares of Valley National Bancorp by 80.8% during the second quarter. US Bancorp DE now owns 7,155 shares of the company’s stock worth $55,000 after purchasing an additional 3,198 shares during the period. Advisors Asset Management Inc. raised its position in Valley National Bancorp by 46.3% in the 4th quarter. Advisors Asset Management Inc. now owns 5,152 shares of the company’s stock valued at $58,000 after buying an additional 1,631 shares during the last quarter. Advisory Services Network LLC raised its position in Valley National Bancorp by 24.4% in the 1st quarter. Advisory Services Network LLC now owns 8,665 shares of the company’s stock valued at $80,000 after buying an additional 1,700 shares during the last quarter. Finally, Covestor Ltd raised its position in Valley National Bancorp by 73.0% in the 1st quarter. Covestor Ltd now owns 6,213 shares of the company’s stock valued at $81,000 after buying an additional 2,622 shares during the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on VLY. TheStreet lowered Valley National Bancorp from a “b-” rating to a “c+” rating in a research report on Tuesday, February 27th. Keefe, Bruyette & Woods lowered their price target on Valley National Bancorp from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, January 26th. StockNews.com lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, February 16th. Wedbush lowered their price target on Valley National Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Friday, January 26th. Finally, Morgan Stanley increased their price target on Valley National Bancorp from $8.50 to $9.00 and gave the company an “underweight” rating in a research report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Valley National Bancorp currently has a consensus rating of “Hold” and a consensus price target of $10.00.

Get Our Latest Stock Analysis on Valley National Bancorp

Insider Activity

In other news, EVP Joseph Chillura sold 49,715 shares of Valley National Bancorp stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $8.18, for a total transaction of $406,668.70. Following the completion of the sale, the executive vice president now owns 545,249 shares in the company, valued at approximately $4,460,136.82. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.71% of the company’s stock.

Valley National Bancorp Stock Up 0.4 %

VLY stock opened at $7.64 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $3.89 billion, a PE ratio of 8.04 and a beta of 1.09. Valley National Bancorp has a twelve month low of $6.39 and a twelve month high of $11.22. The stock has a 50-day simple moving average of $8.32 and a two-hundred day simple moving average of $8.91.

Valley National Bancorp (NASDAQ:VLYGet Free Report) last posted its earnings results on Thursday, January 25th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). The company had revenue of $449.97 million for the quarter, compared to analysts’ expectations of $467.49 million. Valley National Bancorp had a net margin of 14.82% and a return on equity of 8.67%. During the same period in the previous year, the firm earned $0.35 EPS. On average, equities analysts predict that Valley National Bancorp will post 0.97 EPS 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. Stockholders of record on Thursday, March 14th were given a dividend of $0.11 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.76%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 46.32%.

Valley National Bancorp Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Valley National Bancorp (NASDAQ:VLY)

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