Private Advisor Group LLC Sells 8,090 Shares of Valley National Bancorp (NASDAQ:VLY)

Private Advisor Group LLC reduced its position in shares of Valley National Bancorp (NASDAQ:VLY) by 41.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,447 shares of the company’s stock after selling 8,090 shares during the quarter. Private Advisor Group LLC’s holdings in Valley National Bancorp were worth $124,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in VLY. Principal Financial Group Inc. grew its position in shares of Valley National Bancorp by 0.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,603,251 shares of the company’s stock valued at $13,724,000 after acquiring an additional 5,928 shares during the period. LSV Asset Management lifted its position in Valley National Bancorp by 31.9% during the third quarter. LSV Asset Management now owns 1,039,816 shares of the company’s stock valued at $8,901,000 after purchasing an additional 251,400 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Valley National Bancorp by 2.3% during the third quarter. Victory Capital Management Inc. now owns 4,932,249 shares of the company’s stock valued at $42,220,000 after purchasing an additional 111,771 shares during the period. Arizona State Retirement System increased its position in Valley National Bancorp by 1.4% in the third quarter. Arizona State Retirement System now owns 122,917 shares of the company’s stock worth $1,052,000 after buying an additional 1,693 shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of Valley National Bancorp in the third quarter worth about $93,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Insider Activity at Valley National Bancorp

In other Valley National Bancorp news, EVP Joseph Chillura sold 49,715 shares of Valley National Bancorp stock in a transaction 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 directly owns 545,249 shares of the company’s stock, valued at approximately $4,460,136.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Andrew B. Abramson sold 16,451 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Joseph Chillura sold 49,715 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $8.18, for a total value of $406,668.70. Following the completion of the sale, the executive vice president now owns 545,249 shares of the company’s stock, valued at $4,460,136.82. The disclosure for this sale can be found here. 1.88% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on VLY shares. Citigroup reduced their target price on shares of Valley National Bancorp from $11.00 to $8.50 and set a “neutral” rating for the company in a report on Wednesday, March 13th. Royal Bank of Canada decreased their price objective on shares of Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 9th. Morgan Stanley upped their target price on shares of Valley National Bancorp from $8.50 to $9.00 and gave the stock an “underweight” rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. decreased their price target on Valley National Bancorp from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, April 4th. Finally, Barclays initiated coverage on Valley National Bancorp in a research note on Friday, March 8th. They issued an “underweight” rating and a $8.00 price objective for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.33.

Valley National Bancorp Trading Up 0.1 %

Shares of VLY stock opened at $7.36 on Monday. 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 stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 8.66 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 stock’s 50-day moving average price is $7.63 and its 200-day moving average price is $8.76.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). The firm had revenue of $890.07 million for the quarter, compared to analysts’ expectations of $447.38 million. Valley National Bancorp had a net margin of 12.88% and a return on equity of 7.74%. During the same quarter in the prior year, the business earned $0.30 EPS. Equities research analysts predict that Valley National Bancorp will post 0.87 EPS for the current fiscal year.

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.