Valley National Bancorp (NYSE:VLY) Director Marc J. Lenner purchased 2,040 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was bought at an average price of $12.23 per share, for a total transaction of $24,949.20. Following the acquisition, the director now owns 47,001 shares of the company’s stock, valued at $574,822.23. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
Valley National Bancorp (VLY) traded up $0.08 on Thursday, hitting $12.63. The stock had a trading volume of 71,381 shares, compared to its average volume of 2,467,910. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.01. The stock has a market cap of $3,227.96, a price-to-earnings ratio of 17.44 and a beta of 0.96. Valley National Bancorp has a 12-month low of $10.61 and a 12-month high of $12.82.
Valley National Bancorp (NYSE:VLY) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The firm had revenue of $199.57 million during the quarter, compared to analyst estimates of $194.26 million. Valley National Bancorp had a return on equity of 8.20% and a net margin of 17.08%. Valley National Bancorp’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 EPS. equities analysts anticipate that Valley National Bancorp will post 0.88 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Advisor Group Inc. raised its position in Valley National Bancorp by 26.2% in the 2nd quarter. Advisor Group Inc. now owns 9,795 shares of the financial services provider’s stock worth $115,000 after buying an additional 2,031 shares during the last quarter. CIBC Asset Management Inc purchased a new position in Valley National Bancorp in the 3rd quarter worth about $126,000. Csenge Advisory Group purchased a new position in Valley National Bancorp in the 3rd quarter worth about $145,000. Eqis Capital Management Inc. purchased a new position in Valley National Bancorp in the 3rd quarter worth about $151,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in Valley National Bancorp by 58.3% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,749 shares of the financial services provider’s stock worth $166,000 after buying an additional 5,429 shares during the last quarter. 63.49% of the stock is owned by hedge funds and other institutional investors.
VLY has been the topic of several recent analyst reports. Royal Bank of Canada initiated coverage on shares of Valley National Bancorp in a report on Thursday, December 21st. They issued an “outperform” rating and a $14.00 price target on the stock. Zacks Investment Research cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, October 28th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $15.00 price target on shares of Valley National Bancorp in a report on Friday, December 22nd. Piper Jaffray Companies raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $13.50 price objective for the company in a research report on Friday, January 5th. Finally, Morgan Stanley raised their price objective on Valley National Bancorp from $13.00 to $13.50 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $13.64.
Valley National Bancorp Company Profile
Valley National Bancorp is the bank holding company for Valley National Bank (the Bank). The Bank provides a range of commercial, retail, insurance and wealth management financial services products. The Company’s segments include Consumer Lending, Commercial Lending, Investment Management, and Corporate and Other Adjustments.
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