Peak6 LLC Makes New Investment in Valley National Bancorp (NASDAQ:VLY)

PEAK6 LLC acquired a new stake in Valley National Bancorp (NASDAQ:VLY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 80,002 shares of the company's stock, valued at approximately $725,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Jump Financial LLC raised its holdings in Valley National Bancorp by 296.3% in the 4th quarter. Jump Financial LLC now owns 771,177 shares of the company's stock valued at $6,987,000 after buying an additional 576,580 shares during the period. Guggenheim Capital LLC raised its stake in shares of Valley National Bancorp by 11.3% in the 4th quarter. Guggenheim Capital LLC now owns 43,445 shares of the company's stock valued at $394,000 after acquiring an additional 4,406 shares during the period. CreativeOne Wealth LLC acquired a new position in shares of Valley National Bancorp in the 4th quarter worth approximately $102,000. Mariner LLC lifted its holdings in shares of Valley National Bancorp by 73.1% in the 4th quarter. Mariner LLC now owns 152,399 shares of the company's stock worth $1,381,000 after acquiring an additional 64,374 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings in Valley National Bancorp by 10.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 145,192 shares of the company's stock valued at $1,315,000 after purchasing an additional 13,715 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.

Insider Activity at Valley National Bancorp

In related news, EVP Joseph Chillura sold 50,000 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $10.21, for a total transaction of $510,500.00. Following the completion of the sale, the executive vice president now owns 495,249 shares in the company, valued at $5,056,492.29. This represents a 9.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.43% of the company's stock.

Valley National Bancorp Stock Down 1.6 %

VLY stock traded down $0.14 during trading on Friday, hitting $8.59. 7,483,777 shares of the company's stock were exchanged, compared to its average volume of 7,115,949. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.10. The business has a 50-day moving average price of $8.79 and a two-hundred day moving average price of $9.43. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 12.45 and a beta of 1.06.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.01). Valley National Bancorp had a net margin of 10.62% and a return on equity of 5.14%. The company had revenue of $479.67 million during the quarter, compared to analysts' expectations of $483.98 million. As a group, equities research analysts expect that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 5.12%. The ex-dividend date was Friday, March 14th. Valley National Bancorp's payout ratio is currently 63.77%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup increased their target price on Valley National Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. StockNews.com cut Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, April 12th. Piper Sandler raised Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 target price for the company in a research note on Monday, March 24th. JPMorgan Chase & Co. increased their price target on Valley National Bancorp from $10.50 to $11.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada lifted their price objective on Valley National Bancorp from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $10.67.

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.