Moors & Cabot Inc. lowered its position in shares of Valley National Bancorp (NASDAQ:VLY – Free Report) by 40.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 12,600 shares of the company’s stock after selling 8,500 shares during the quarter. Moors & Cabot Inc.’s holdings in Valley National Bancorp were worth $108,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. boosted its holdings in shares of Valley National Bancorp by 76.9% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 23,000 shares of the company’s stock worth $178,000 after purchasing an additional 10,000 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in shares of Valley National Bancorp by 2.9% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 54,307 shares of the company’s stock worth $421,000 after purchasing an additional 1,508 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Valley National Bancorp by 2.3% during the 3rd quarter. Victory Capital Management Inc. now owns 4,932,249 shares of the company’s stock worth $42,220,000 after purchasing an additional 111,771 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Valley National Bancorp by 363.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 192,963 shares of the company’s stock worth $1,652,000 after purchasing an additional 151,355 shares during the last quarter. Finally, Congress Asset Management Co. MA boosted its holdings in shares of Valley National Bancorp by 1.3% during the 2nd quarter. Congress Asset Management Co. MA now owns 280,479 shares of the company’s stock worth $2,174,000 after purchasing an additional 3,650 shares during the last quarter. Institutional investors and hedge funds own 60.98% of the company’s stock.
Valley National Bancorp Stock Down 2.3 %
Valley National Bancorp stock opened at $7.98 on Thursday. Valley National Bancorp has a 1-year low of $6.39 and a 1-year high of $12.46. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market cap of $4.05 billion, a PE ratio of 8.40 and a beta of 1.14. The stock’s fifty day moving average is $10.25 and its two-hundred day moving average is $9.31.
Valley National Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Thursday, December 14th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.51%. The ex-dividend date of this dividend was Wednesday, December 13th. Valley National Bancorp’s dividend payout ratio is currently 46.32%.
Insider Buying and Selling
In related news, EVP Joseph Chillura sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $8.64, for a total transaction of $864,000.00. Following the transaction, the executive vice president now owns 591,235 shares of the company’s stock, valued at $5,108,270.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.71% of the company’s stock.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. StockNews.com lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, November 20th. Wedbush lowered their price objective 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. Morgan Stanley increased their price objective on Valley National Bancorp from $8.50 to $9.00 and gave the stock an “underweight” rating in a research report on Wednesday. JPMorgan Chase & Co. lowered Valley National Bancorp from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $11.00 to $10.00 in a research report on Monday, October 30th. Finally, Citigroup initiated coverage on Valley National Bancorp in a research report on Friday, December 1st. They issued a “neutral” rating and a $9.50 price objective for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.33.
Valley National Bancorp Company Profile
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 Consumer Banking, Commercial Banking, and Treasury and Corporate other 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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