Corient Private Wealth LLC Reduces Holdings in Valley National Bancorp (NASDAQ:VLY)

Corient Private Wealth LLC reduced its position in Valley National Bancorp (NASDAQ:VLY) by 38.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 73,529 shares of the company’s stock after selling 46,901 shares during the period. Corient Private Wealth LLC’s holdings in Valley National Bancorp were worth $666,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. R Squared Ltd bought a new stake in shares of Valley National Bancorp in the fourth quarter worth $25,000. Sapient Capital LLC acquired a new position in Valley National Bancorp during the 4th quarter valued at approximately $103,000. Empowered Funds LLC boosted its holdings in shares of Valley National Bancorp by 12.0% during the fourth quarter. Empowered Funds LLC now owns 12,812 shares of the company’s stock valued at $116,000 after acquiring an additional 1,371 shares during the period. Townsquare Capital LLC increased its stake in shares of Valley National Bancorp by 11.8% in the third quarter. Townsquare Capital LLC now owns 14,365 shares of the company’s stock valued at $130,000 after purchasing an additional 1,521 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. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on VLY. Stephens reaffirmed an “overweight” rating and set a $12.50 target price on shares of Valley National Bancorp in a report on Thursday, January 2nd. Citigroup lifted their target price on Valley National Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. JPMorgan Chase & Co. increased their price target on Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Piper Sandler raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 price target on the stock in a research note on Monday, March 24th. Finally, Royal Bank of Canada upped their price objective on shares of Valley National Bancorp from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $10.78.

Insiders Place Their Bets

In related news, EVP Joseph Chillura sold 50,000 shares of the company’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 in the company, valued at approximately $5,056,492.29. This represents a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.88% of the company’s stock.

Valley National Bancorp Price Performance

NASDAQ VLY opened at $8.78 on Friday. 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 firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 12.72 and a beta of 1.11. The company has a 50 day simple moving average of $9.56 and a 200-day simple moving average of $9.50. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.10.

Valley National Bancorp (NASDAQ:VLY) last issued its earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share (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 quarter last year, the business posted $0.22 EPS. Equities research analysts predict 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 announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 5.01%. Valley National Bancorp’s dividend payout ratio (DPR) is currently 63.77%.

Valley National Bancorp 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.