37,260 Shares in Valley National Bancorp (NASDAQ:VLY) Bought by Farringdon Capital Ltd.

Farringdon Capital Ltd. acquired a new position in Valley National Bancorp (NASDAQ:VLY - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 37,260 shares of the company's stock, valued at approximately $338,000.

Several other hedge funds also recently made changes to their positions in VLY. R Squared Ltd purchased a new position in shares of Valley National Bancorp in the fourth quarter worth approximately $25,000. CreativeOne Wealth LLC purchased a new position in shares of Valley National Bancorp in the fourth quarter worth approximately $102,000. Sapient Capital LLC purchased a new position in shares of Valley National Bancorp in the fourth quarter worth approximately $103,000. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Valley National Bancorp by 9.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company's stock worth $104,000 after acquiring an additional 1,002 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. purchased a new position in shares of Valley National Bancorp in the fourth quarter worth approximately $104,000. Institutional investors and hedge funds own 61.00% of the company's stock.

Insider Activity

In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $10.21, for a total value of $510,500.00. Following the transaction, the executive vice president now directly owns 495,249 shares of the company's stock, valued at approximately $5,056,492.29. This trade represents a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.43% of the stock is owned by insiders.

Valley National Bancorp Stock Performance

Shares of NASDAQ:VLY traded up $0.14 during trading on Thursday, hitting $8.77. 4,826,637 shares of the stock were exchanged, compared to its average volume of 7,115,564. Valley National Bancorp has a 1-year low of $6.47 and a 1-year high of $11.10. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 12.70 and a beta of 1.06. The company's fifty day simple moving average is $8.85 and its 200-day simple moving average is $9.43. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.98 and a current ratio of 0.98.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. Sell-side analysts expect that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date was Friday, March 14th. Valley National Bancorp's dividend payout ratio is presently 63.77%.

Analysts Set New Price Targets

VLY has been the subject of several research reports. StockNews.com cut shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, April 12th. Piper Sandler upgraded shares of Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price target for the company in a report on Monday, March 24th. Royal Bank of Canada lifted their target price on shares of Valley National Bancorp from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Stephens reiterated an "overweight" rating and issued a $12.50 target price on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Finally, Citigroup lifted their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target 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.