Leeward Investments LLC MA Sells 64,354 Shares of Valley National Bancorp (NASDAQ:VLY)

Leeward Investments LLC MA reduced its stake in Valley National Bancorp (NASDAQ:VLY - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,696,737 shares of the company's stock after selling 64,354 shares during the period. Leeward Investments LLC MA owned approximately 0.30% of Valley National Bancorp worth $15,084,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Valley National Bancorp by 9.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company's stock worth $104,000 after purchasing an additional 1,002 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in Valley National Bancorp by 2.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 44,848 shares of the company's stock worth $406,000 after buying an additional 1,024 shares during the last quarter. United Services Automobile Association grew its stake in Valley National Bancorp by 3.7% during the fourth quarter. United Services Automobile Association now owns 28,702 shares of the company's stock worth $260,000 after buying an additional 1,029 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Valley National Bancorp by 2.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 48,118 shares of the company's stock worth $436,000 after buying an additional 1,046 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Valley National Bancorp by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 55,597 shares of the company's stock worth $494,000 after buying an additional 1,465 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors.

Valley National Bancorp Trading Up 5.0%

Shares of NASDAQ VLY traded up $0.47 during mid-day trading on Friday, hitting $9.81. The company's stock had a trading volume of 11,934,145 shares, compared to its average volume of 7,985,105. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 14.21 and a beta of 1.06. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.97 and a quick ratio of 0.97. Valley National Bancorp has a one year low of $6.57 and a one year high of $11.10. The company's fifty day simple moving average is $8.88 and its 200-day simple moving average is $9.07.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.01). Valley National Bancorp had a net margin of 11.03% and a return on equity of 5.12%. The business had revenue of $479.67 million during the quarter, compared to the consensus estimate of $483.98 million. During the same period in the previous year, the business posted $0.19 earnings per share. On average, sell-side analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a $0.11 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.44 annualized dividend and a dividend yield of 4.49%. Valley National Bancorp's dividend payout ratio is currently 63.77%.

Analyst Upgrades and Downgrades

VLY has been the topic of a number of research analyst reports. Jefferies Financial Group assumed coverage on Valley National Bancorp in a research report on Wednesday, May 21st. They set a "hold" rating and a $10.00 price target on the stock. Wall Street Zen cut Valley National Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Piper Sandler raised shares of Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price objective on the stock in a report on Monday, March 24th. Morgan Stanley raised shares of Valley National Bancorp from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $10.00 to $11.00 in a report on Thursday. Finally, Truist Financial assumed coverage on shares of Valley National Bancorp in a research note on Tuesday, May 13th. They set a "hold" rating and a $10.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $10.64.

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.