Ieq Capital LLC Has $292,000 Position in Valley National Bancorp (NASDAQ:VLY)

Ieq Capital LLC raised its position in Valley National Bancorp (NASDAQ:VLY) by 91.1% in the 4th quarter, HoldingsChannel reports. The fund owned 32,241 shares of the company’s stock after purchasing an additional 15,371 shares during the period. Ieq Capital LLC’s holdings in Valley National Bancorp were worth $292,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in VLY. Wellington Management Group LLP raised its stake in shares of Valley National Bancorp by 384.2% in the third quarter. Wellington Management Group LLP now owns 8,970,862 shares of the company’s stock valued at $81,276,000 after purchasing an additional 7,118,044 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Valley National Bancorp by 1,501.7% in the 3rd quarter. Victory Capital Management Inc. now owns 5,676,685 shares of the company’s stock valued at $51,431,000 after buying an additional 5,322,278 shares in the last quarter. Basswood Capital Management L.L.C. acquired a new position in shares of Valley National Bancorp in the 3rd quarter valued at $19,399,000. Verition Fund Management LLC raised its stake in shares of Valley National Bancorp by 416.7% in the 3rd quarter. Verition Fund Management LLC now owns 852,884 shares of the company’s stock valued at $7,727,000 after buying an additional 687,813 shares in the last quarter. Finally, Holocene Advisors LP acquired a new position in shares of Valley National Bancorp in the 3rd quarter valued at $4,374,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

Valley National Bancorp Trading Up 2.6 %

VLY opened at $9.84 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $5.01 billion, a PE ratio of 14.27 and a beta of 1.12. The firm has a 50-day moving average price of $9.63 and a two-hundred day moving average price of $9.42. Valley National Bancorp has a 1-year low of $6.47 and a 1-year high of $11.10.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data 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 business earned $0.22 earnings per share. As a group, equities 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 will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.11 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 4.47%. Valley National Bancorp’s payout ratio is 63.77%.

Insider Buying and Selling

In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of Valley National Bancorp stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $10.21, for a total transaction of $510,500.00. Following the completion of the sale, the executive vice president now owns 495,249 shares of the company’s stock, valued at approximately $5,056,492.29. The trade was a 9.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.88% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on VLY shares. StockNews.com lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Stephens reissued an “overweight” rating and issued a $12.50 target price on shares of Valley National Bancorp in a report on Thursday, January 2nd. Citigroup increased their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Royal Bank of Canada increased their price objective on Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of Valley National Bancorp from $10.50 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $10.67.

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.