Valley National Bancorp $VLY Holdings Decreased by Endeavour Capital Advisors Inc.

Endeavour Capital Advisors Inc. trimmed its holdings in Valley National Bancorp (NASDAQ:VLY) by 12.0% in the 4th quarter, Holdings Channel reports. The fund owned 1,296,618 shares of the company’s stock after selling 177,623 shares during the quarter. Valley National Bancorp accounts for about 4.2% of Endeavour Capital Advisors Inc.’s investment portfolio, making the stock its 8th biggest position. Endeavour Capital Advisors Inc.’s holdings in Valley National Bancorp were worth $15,144,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Valley National Bancorp by 5.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 282,143 shares of the company’s stock worth $2,508,000 after purchasing an additional 15,771 shares during the period. Jones Financial Companies Lllp purchased a new position in shares of Valley National Bancorp during the first quarter valued at approximately $191,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Valley National Bancorp by 21.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,445,644 shares of the company’s stock worth $12,852,000 after purchasing an additional 255,870 shares in the last quarter. Focus Partners Wealth boosted its position in shares of Valley National Bancorp by 34.9% in the 1st quarter. Focus Partners Wealth now owns 60,868 shares of the company’s stock worth $541,000 after purchasing an additional 15,761 shares in the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Valley National Bancorp in the 2nd quarter worth approximately $119,000. 61.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Russell Barrett sold 90,537 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $13.54, for a total transaction of $1,225,870.98. Following the completion of the sale, the chief operating officer owned 64,167 shares in the company, valued at approximately $868,821.18. This represents a 58.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.06% of the company’s stock.

Wall Street Analysts Forecast Growth

VLY has been the subject of a number of recent research reports. Raymond James Financial upgraded Valley National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a research note on Friday, January 30th. Hovde Group increased their target price on Valley National Bancorp from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Barclays raised their price target on Valley National Bancorp from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Citigroup reaffirmed a “buy” rating on shares of Valley National Bancorp in a research report on Monday, February 2nd. Finally, National Bank Financial set a $17.00 price objective on shares of Valley National Bancorp in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Valley National Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.10.

Valley National Bancorp Price Performance

Shares of Valley National Bancorp stock opened at $13.55 on Tuesday. Valley National Bancorp has a twelve month low of $8.36 and a twelve month high of $14.12. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $12.89 and its 200 day moving average is $12.34. The company has a market cap of $7.51 billion, a price-to-earnings ratio of 12.21 and a beta of 1.04.

Valley National Bancorp (NASDAQ:VLY) last posted its earnings results on Thursday, April 23rd. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $531.89 million. Valley National Bancorp had a net margin of 18.61% and a return on equity of 8.68%. During the same quarter in the previous year, the firm posted $0.18 EPS. Research analysts anticipate that Valley National Bancorp will post 1.29 EPS for the current year.

Valley National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.44 annualized dividend and a dividend yield of 3.2%. Valley National Bancorp’s payout ratio is presently 39.64%.

Valley National Bancorp Profile

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.