FLC Capital Advisors Sells 39,039 Shares of Valley National Bancorp $VLY

FLC Capital Advisors decreased its position in Valley National Bancorp (NASDAQ:VLY) by 63.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 22,964 shares of the company’s stock after selling 39,039 shares during the quarter. FLC Capital Advisors’ holdings in Valley National Bancorp were worth $268,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Oliver Luxxe Assets LLC bought a new position in shares of Valley National Bancorp in the fourth quarter worth about $2,714,000. Jupiter Asset Management Ltd. bought a new position in Valley National Bancorp during the 3rd quarter worth about $10,756,000. Polar Asset Management Partners Inc. bought a new stake in shares of Valley National Bancorp in the 3rd quarter valued at about $4,753,000. LSV Asset Management boosted its holdings in shares of Valley National Bancorp by 6.3% in the 3rd quarter. LSV Asset Management now owns 1,522,310 shares of the company’s stock valued at $16,136,000 after buying an additional 90,500 shares in the last quarter. Finally, Intech Investment Management LLC boosted its holdings in shares of Valley National Bancorp by 142.4% in the 3rd quarter. Intech Investment Management LLC now owns 978,713 shares of the company’s stock valued at $10,374,000 after buying an additional 574,968 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Trading Down 0.1%

Shares of VLY stock opened at $13.78 on Friday. The company’s 50-day moving average price is $13.20 and its 200-day moving average price is $12.50. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 12.41 and a beta of 1.03. Valley National Bancorp has a twelve month low of $8.36 and a twelve month high of $14.12.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.02. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations 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 company posted $0.18 EPS. As a group, equities analysts predict that Valley National Bancorp will post 1.29 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The business 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. This represents a $0.44 annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, June 15th. Valley National Bancorp’s payout ratio is 39.64%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Cantor Fitzgerald lifted their target price on shares of Valley National Bancorp from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Royal Bank Of Canada raised their price target on shares of Valley National Bancorp from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. JPMorgan Chase & Co. lifted their target price on shares of Valley National Bancorp from $14.50 to $15.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Weiss Ratings raised shares of Valley National Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $15.00 price target (up from $14.00) on shares of Valley National Bancorp in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Valley National Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $15.13.

Insider Transactions at Valley National Bancorp

In related news, COO Russell Barrett sold 90,537 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $13.54, for a total value of $1,225,870.98. Following the sale, the chief operating officer directly owned 64,167 shares in the company, valued at approximately $868,821.18. The trade was a 58.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.06% of the company’s stock.

About Valley National Bancorp

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.