Bank of Montreal Can Purchases 9,835 Shares of Valley National Bancorp (NASDAQ:VLY)

Bank of Montreal Can lifted its position in shares of Valley National Bancorp (NASDAQ:VLY) by 24.0% during the 4th quarter, Holdings Channel reports. The firm owned 50,784 shares of the company’s stock after purchasing an additional 9,835 shares during the quarter. Bank of Montreal Can’s holdings in Valley National Bancorp were worth $460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at Valley National Bancorp

In related news, EVP Joseph Chillura sold 50,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $10.21, for a total value of $510,500.00. Following the sale, the executive vice president now owns 495,249 shares of the company’s stock, valued at $5,056,492.29. The trade was a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. StockNews.com lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, April 12th. Barclays reduced their price target on Valley National Bancorp from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Piper Sandler raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 price objective for the company in a report on Monday, March 24th. JPMorgan Chase & Co. raised their price target on Valley National Bancorp from $10.50 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Citigroup upped their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.67.

Valley National Bancorp Trading Down 1.3 %

VLY opened at $8.14 on Tuesday. The company has a market cap of $4.56 billion, a P/E ratio of 11.80 and a beta of 1.06. 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 company’s 50 day moving average is $8.90 and its 200-day moving average is $9.45. 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 posted its earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. During the same quarter in the prior year, the firm posted $0.22 EPS. Equities research analysts predict 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 declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date was Friday, March 14th. Valley National Bancorp’s payout ratio is 63.77%.

Valley National Bancorp Company 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.