Valley National Bancorp (NASDAQ:VLY) Shares Gap Down to $10.05

Shares of Valley National Bancorp (NASDAQ:VLY – Get Rating) gapped down before the market opened on Monday . The stock had previously closed at $10.05, but opened at $9.39. Valley National Bancorp shares last traded at $9.59, with a volume of 2,978,496 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on VLY shares. Morgan Stanley lowered their target price on shares of Valley National Bancorp from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, January 27th. Raymond James lowered their target price on shares of Valley National Bancorp from $14.00 to $13.00 and set a “strong-buy” rating for the company in a report on Friday, January 27th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Valley National Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, December 13th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.17.

Valley National Bancorp Stock Down 3.7 %

The company has a market cap of $4.89 billion, a P/E ratio of 8.53 and a beta of 1.10. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97. The company’s 50-day moving average is $11.49 and its two-hundred day moving average is $11.61.

Valley National Bancorp (NASDAQ:VLY – Get Rating) last announced its quarterly earnings results on Thursday, January 26th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). Valley National Bancorp had a net margin of 26.05% and a return on equity of 11.24%. The firm had revenue of $518.62 million for the quarter, compared to the consensus estimate of $529.56 million. As a group, equities analysts predict that Valley National Bancorp will post 1.39 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Wednesday, March 15th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date of this dividend is Tuesday, March 14th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 38.94%.

Insiders Place Their Bets

In other Valley National Bancorp news, Director Marc J. Lenner acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, March 14th. The stock was purchased at an average price of $10.93 per share, with a total value of $54,650.00. Following the transaction, the director now directly owns 93,670 shares in the company, valued at approximately $1,023,813.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Valley National Bancorp

A number of hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its position in shares of Valley National Bancorp by 5.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 14,630 shares of the company’s stock valued at $158,000 after acquiring an additional 818 shares during the period. Signaturefd LLC grew its position in shares of Valley National Bancorp by 21.3% during the 3rd quarter. Signaturefd LLC now owns 4,917 shares of the company’s stock valued at $53,000 after acquiring an additional 865 shares during the period. HighTower Advisors LLC lifted its stake in shares of Valley National Bancorp by 2.9% during the 4th quarter. HighTower Advisors LLC now owns 32,395 shares of the company’s stock valued at $367,000 after buying an additional 911 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Valley National Bancorp by 0.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 111,227 shares of the company’s stock valued at $1,201,000 after buying an additional 978 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Valley National Bancorp by 2.1% during the 1st quarter. Bank of Montreal Can now owns 47,828 shares of the company’s stock valued at $630,000 after buying an additional 989 shares in the last quarter. Institutional investors own 54.77% of the company’s stock.

Valley National Bancorp Company Profile

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Valley National Bancorp is a bank holding company, which engages in the provision of retail and commercial banking services. It operates through the following segments: Consumer Lending, Commercial Lending, Investment Management, and Corporate and Other Adjustments. The Consumer Lending segment consists of residential mortgage loans, automobile loans and home equity loans, as well as wealth management and insurance services.