Linden Thomas Advisory Services LLC Purchases 4,069 Shares of Valley National Bancorp (NASDAQ:VLY)

Linden Thomas Advisory Services LLC grew its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 7.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,158 shares of the company’s stock after acquiring an additional 4,069 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Valley National Bancorp were worth $406,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of VLY. GAMMA Investing LLC acquired a new position in shares of Valley National Bancorp during the fourth quarter valued at about $35,000. Wolverine Asset Management LLC acquired a new position in Valley National Bancorp in the 4th quarter worth approximately $40,000. EntryPoint Capital LLC acquired a new position in Valley National Bancorp in the 1st quarter worth approximately $43,000. Simplicity Wealth LLC acquired a new position in Valley National Bancorp in the 1st quarter worth approximately $92,000. Finally, Paloma Partners Management Co acquired a new position in Valley National Bancorp in the 1st quarter worth approximately $98,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

Insider Activity

In other news, EVP Joseph Chillura sold 10,000 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $6.57, for a total transaction of $65,700.00. Following the completion of the sale, the executive vice president now owns 545,249 shares in the company, valued at $3,582,285.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Joseph Chillura sold 10,000 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $6.57, for a total value of $65,700.00. Following the completion of the sale, the executive vice president now owns 545,249 shares in the company, valued at approximately $3,582,285.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew B. Abramson sold 16,451 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $7.72, for a total transaction of $127,001.72. Following the completion of the sale, the director now owns 224,679 shares in the company, valued at $1,734,521.88. The disclosure for this sale can be found here. Insiders have sold 51,451 shares of company stock valued at $378,452 in the last ninety days. 1.88% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

VLY has been the topic of several research reports. Morgan Stanley upgraded shares of Valley National Bancorp from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $8.00 to $9.50 in a report on Monday. JPMorgan Chase & Co. lowered their price objective on Valley National Bancorp from $8.50 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Royal Bank of Canada upped their price objective on Valley National Bancorp from $8.00 to $9.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Barclays lowered their price objective on Valley National Bancorp from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Monday, June 24th. Finally, StockNews.com cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Valley National Bancorp has an average rating of “Hold” and a consensus price target of $8.67.

Valley National Bancorp Stock Up 1.3 %

NASDAQ VLY traded up $0.10 on Thursday, hitting $7.90. 2,102,758 shares of the stock were exchanged, compared to its average volume of 6,009,086. Valley National Bancorp has a fifty-two week low of $6.47 and a fifty-two week high of $11.22. The company has a 50-day moving average price of $7.23 and a 200-day moving average price of $7.78. The company has a market cap of $4.02 billion, a PE ratio of 9.35 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.51.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). The business had revenue of $884.68 million for the quarter, compared to analysts’ expectations of $458.67 million. Valley National Bancorp had a return on equity of 6.53% and a net margin of 10.79%. During the same period last year, the firm earned $0.28 earnings per share. Sell-side analysts anticipate that Valley National Bancorp will post 0.72 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Thursday, June 13th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.57%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 51.76%.

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.