Jump Financial LLC Increases Stake in Valley National Bancorp (NASDAQ:VLY)

Jump Financial LLC grew its position in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 296.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 771,177 shares of the company's stock after buying an additional 576,580 shares during the period. Jump Financial LLC owned 0.15% of Valley National Bancorp worth $6,987,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in VLY. FMR LLC boosted its position in Valley National Bancorp by 105.8% during the third quarter. FMR LLC now owns 32,146 shares of the company's stock worth $291,000 after purchasing an additional 16,529 shares during the period. HighTower Advisors LLC lifted its stake in shares of Valley National Bancorp by 6.0% during the 3rd quarter. HighTower Advisors LLC now owns 31,831 shares of the company's stock valued at $291,000 after buying an additional 1,806 shares in the last quarter. Stifel Financial Corp boosted its holdings in Valley National Bancorp by 66.1% in the 3rd quarter. Stifel Financial Corp now owns 217,312 shares of the company's stock worth $1,969,000 after buying an additional 86,473 shares during the period. Geode Capital Management LLC raised its holdings in Valley National Bancorp by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,164,934 shares of the company's stock valued at $101,170,000 after acquiring an additional 300,385 shares during the period. Finally, Pine Valley Investments Ltd Liability Co bought a new stake in Valley National Bancorp during the 3rd quarter valued at $154,000. Institutional investors own 61.00% of the company's stock.

Insider Buying and Selling

In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 495,249 shares of the company's stock, valued at $5,056,492.29. The trade was a 9.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.43% of the stock is currently owned by corporate insiders.

Valley National Bancorp Price Performance

VLY stock traded down $0.07 during midday trading on Monday, reaching $8.18. The company had a trading volume of 1,874,990 shares, compared to its average volume of 7,067,471. The firm has a 50-day moving average price of $8.94 and a 200-day moving average price of $9.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $4.58 billion, a P/E ratio of 11.86 and a beta of 1.06. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.10.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last released its earnings results on Thursday, January 23rd. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.02). Valley National Bancorp had a net margin of 10.62% and a return on equity of 5.14%. During the same period in the prior year, the firm posted $0.22 earnings per share. On average, research analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.38%. Valley National Bancorp's dividend payout ratio is 63.77%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on VLY shares. Piper Sandler upgraded Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price target for the company in a research report on Monday, March 24th. JPMorgan Chase & Co. lifted their target price on Valley National Bancorp from $10.50 to $11.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Royal Bank of Canada increased their price target on shares of Valley National Bancorp from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. Stephens reaffirmed an "overweight" rating and set a $12.50 price objective on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Finally, Citigroup upped their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Valley National Bancorp currently has an average 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.