Valley National Bancorp (NASDAQ:VLY) Stock Holdings Reduced by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. decreased its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 15.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,813 shares of the company’s stock after selling 2,191 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Valley National Bancorp were worth $128,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Quarry LP boosted its position in Valley National Bancorp by 198.1% during the first quarter. Quarry LP now owns 3,070 shares of the company’s stock worth $28,000 after purchasing an additional 2,040 shares during the period. Advisors Asset Management Inc. grew its stake in Valley National Bancorp by 46.3% in the 4th quarter. Advisors Asset Management Inc. now owns 5,152 shares of the company’s stock valued at $58,000 after buying an additional 1,631 shares during the last quarter. Advisory Services Network LLC raised its holdings in Valley National Bancorp by 24.4% in the 1st quarter. Advisory Services Network LLC now owns 8,665 shares of the company’s stock worth $80,000 after acquiring an additional 1,700 shares during the period. Covestor Ltd lifted its position in Valley National Bancorp by 73.0% during the 1st quarter. Covestor Ltd now owns 6,213 shares of the company’s stock worth $81,000 after acquiring an additional 2,622 shares during the last quarter. Finally, Stratos Wealth Partners LTD. acquired a new stake in shares of Valley National Bancorp in the third quarter valued at about $93,000. Institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Stock Performance

Shares of VLY opened at $7.20 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. The stock has a market cap of $3.66 billion, a PE ratio of 7.58 and a beta of 1.09. Valley National Bancorp has a 1 year low of $6.39 and a 1 year high of $11.22. The stock has a 50 day simple moving average of $7.92 and a 200-day simple moving average of $8.84.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings data on Thursday, January 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). Valley National Bancorp had a net margin of 14.82% and a return on equity of 8.67%. The company had revenue of $449.97 million for the quarter, compared to the consensus estimate of $467.49 million. During the same period in the previous year, the business posted $0.35 earnings per share. On average, sell-side analysts predict that Valley National Bancorp will post 0.93 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 14th were given a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.44 dividend on an annualized basis and a yield of 6.11%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 46.32%.

Insiders Place Their Bets

In other news, EVP Joseph Chillura sold 49,715 shares of Valley National Bancorp stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $8.18, for a total value of $406,668.70. Following the completion of the transaction, the executive vice president now owns 545,249 shares in the company, valued at $4,460,136.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.88% of the company’s stock.

Analyst Ratings Changes

VLY has been the subject of a number of research analyst reports. Citigroup cut their price target on Valley National Bancorp from $11.00 to $8.50 and set a “neutral” rating for the company in a report on Wednesday, March 13th. Barclays started coverage on shares of Valley National Bancorp in a research report on Friday, March 8th. They set an “underweight” rating and a $8.00 price objective for the company. StockNews.com downgraded Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, February 16th. Morgan Stanley upped their price target on Valley National Bancorp from $8.50 to $9.00 and gave the company an “underweight” rating in a report on Wednesday, February 7th. Finally, TheStreet lowered Valley National Bancorp from a “b-” rating to a “c+” rating in a report on Tuesday, February 27th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.67.

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.