Amalgamated Bank Sells 3,591 Shares of Valley National Bancorp (NASDAQ:VLY)

Amalgamated Bank reduced its stake in Valley National Bancorp (NASDAQ:VLYGet Rating) by 1.3% during the first quarter, HoldingsChannel.com reports. The firm owned 266,599 shares of the company’s stock after selling 3,591 shares during the quarter. Amalgamated Bank’s holdings in Valley National Bancorp were worth $3,471,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Bank of Montreal Can boosted its position in shares of Valley National Bancorp by 2.1% in the 1st quarter. Bank of Montreal Can now owns 47,828 shares of the company’s stock worth $630,000 after purchasing an additional 989 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Valley National Bancorp by 2.1% in the 1st quarter. Hsbc Holdings PLC now owns 56,247 shares of the company’s stock worth $737,000 after acquiring an additional 1,154 shares during the last quarter. Securian Asset Management Inc. raised its holdings in Valley National Bancorp by 4.0% in the 1st quarter. Securian Asset Management Inc. now owns 37,814 shares of the company’s stock worth $492,000 after acquiring an additional 1,449 shares during the last quarter. HighTower Advisors LLC raised its holdings in Valley National Bancorp by 13.6% in the 4th quarter. HighTower Advisors LLC now owns 12,333 shares of the company’s stock worth $170,000 after acquiring an additional 1,479 shares during the last quarter. Finally, Ellevest Inc. raised its holdings in Valley National Bancorp by 238.1% in the 1st quarter. Ellevest Inc. now owns 2,181 shares of the company’s stock worth $28,000 after acquiring an additional 1,536 shares during the last quarter. 68.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott began coverage on shares of Valley National Bancorp in a report on Thursday, August 4th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $14.50.

Valley National Bancorp Price Performance

Shares of NASDAQ VLY opened at $11.41 on Friday. The firm has a market cap of $5.78 billion, a P/E ratio of 11.30 and a beta of 1.13. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average of $11.98 and a 200 day moving average of $11.41. Valley National Bancorp has a twelve month low of $10.01 and a twelve month high of $15.10.

Valley National Bancorp (NASDAQ:VLYGet Rating) last announced its earnings results on Thursday, July 28th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The business had revenue of $476.69 million during the quarter, compared to analyst estimates of $451.49 million. Valley National Bancorp had a net margin of 27.48% and a return on equity of 10.37%. As a group, research analysts expect that Valley National Bancorp will post 1.3 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.11 per share. The ex-dividend date is Wednesday, September 14th. This represents a $0.44 dividend on an annualized basis and a yield of 3.86%. Valley National Bancorp’s dividend payout ratio is presently 43.56%.

Valley National Bancorp Profile

(Get Rating)

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, retail, insurance, and wealth management financial services products. It operates through Commercial Lending, Consumer Lending, and Investment Management segments. The company offers non-interest bearing, savings, NOW, money market, and time deposit accounts; commercial and industrial, commercial real estate, residential mortgage, and automobile loans; loans secured by the cash surrender value of life insurance; home equity loans and lines of credit; and secured and unsecured other consumer loans.

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

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