Valley National Bancorp (NASDAQ:VLY) Director Sells $127,001.72 in Stock

Valley National Bancorp (NASDAQ:VLY) Director Andrew B. Abramson sold 16,451 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $7.72, for a total transaction of $127,001.72. Following the transaction, the director now owns 224,679 shares of the company’s stock, valued at approximately $1,734,521.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Valley National Bancorp Stock Performance

NASDAQ VLY traded down $0.06 during trading on Friday, reaching $7.29. The company’s stock had a trading volume of 216,729 shares, compared to its average volume of 5,778,798. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 8.65 and a beta of 1.10. Valley National Bancorp has a 12 month low of $6.97 and a 12 month high of $11.22. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average price of $7.64 and a 200 day moving average price of $8.76.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, April 25th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). The company had revenue of $890.07 million for the quarter, compared to analyst estimates of $447.38 million. Valley National Bancorp had a return on equity of 7.74% and a net margin of 12.88%. During the same period last year, the company posted $0.30 earnings per share. As a group, equities analysts anticipate that Valley National Bancorp will post 0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Valley National Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC bought a new position in shares of Valley National Bancorp during the 4th quarter worth approximately $35,000. Wolverine Asset Management LLC bought a new position in Valley National Bancorp during the 4th quarter valued at $40,000. EntryPoint Capital LLC purchased a new position in Valley National Bancorp during the 1st quarter worth $43,000. Jump Financial LLC bought a new stake in shares of Valley National Bancorp in the 3rd quarter worth $93,000. Finally, Simplicity Wealth LLC bought a new position in shares of Valley National Bancorp during the first quarter valued at about $92,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on VLY. Keefe, Bruyette & Woods dropped their price objective on Valley National Bancorp from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, January 26th. TheStreet cut Valley National Bancorp from a “b-” rating to a “c+” rating in a report on Tuesday, February 27th. JPMorgan Chase & Co. reduced their price objective on Valley National Bancorp from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, April 4th. StockNews.com upgraded Valley National Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Morgan Stanley raised their target price on shares of Valley National Bancorp from $8.50 to $9.00 and gave the company an “underweight” rating in a research report on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Valley National Bancorp presently has a consensus rating of “Hold” and an average price target of $9.33.

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.