Valley National Bancorp (VLY) Director Buys $24,949.20 in Stock

Valley National Bancorp (NYSE:VLY) Director Marc J. Lenner bought 2,040 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were acquired at an average price of $12.23 per share, with a total value of $24,949.20. Following the purchase, the director now directly owns 47,001 shares of the company’s stock, valued at approximately $574,822.23. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Valley National Bancorp (NYSE:VLY) opened at $12.18 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.98 and a current ratio of 0.98. Valley National Bancorp has a 12 month low of $10.61 and a 12 month high of $12.82. The firm has a market cap of $4,020.00, a P/E ratio of 21.05 and a beta of 0.96.

Valley National Bancorp (NYSE:VLY) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. Valley National Bancorp had a net margin of 17.08% and a return on equity of 8.20%. The business had revenue of $199.57 million during the quarter, compared to analysts’ expectations of $194.26 million. During the same period last year, the company posted $0.19 EPS. The company’s revenue was up 1.3% on a year-over-year basis. research analysts predict that Valley National Bancorp will post 0.88 earnings per share for the current year.

A number of equities research analysts recently commented on the stock. Piper Jaffray Companies upgraded shares of 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. Zacks Investment Research upgraded shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. Royal Bank of Canada started coverage on shares of Valley National Bancorp in a research report on Thursday, December 21st. They issued an “outperform” rating and a $14.00 price objective for the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $15.00 target price on shares of Valley National Bancorp in a report on Friday, December 22nd. Finally, Hovde Group reaffirmed a “buy” rating and issued a $14.00 target price on shares of Valley National Bancorp in a report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $13.64.

Several institutional investors and hedge funds have recently modified their holdings of VLY. Principal Financial Group Inc. increased its stake in shares of Valley National Bancorp by 185.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,230,525 shares of the financial services provider’s stock worth $38,928,000 after purchasing an additional 2,099,452 shares in the last quarter. BlackRock Inc. grew its stake in Valley National Bancorp by 3.9% in the 4th quarter. BlackRock Inc. now owns 32,104,862 shares of the financial services provider’s stock worth $360,216,000 after acquiring an additional 1,193,479 shares during the period. Peregrine Capital Management LLC purchased a new stake in Valley National Bancorp in the 3rd quarter worth approximately $9,222,000. FMR LLC grew its stake in Valley National Bancorp by 40.6% in the 2nd quarter. FMR LLC now owns 2,122,100 shares of the financial services provider’s stock worth $25,062,000 after acquiring an additional 612,334 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in Valley National Bancorp by 57.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,552,764 shares of the financial services provider’s stock worth $18,711,000 after acquiring an additional 566,827 shares during the period. 63.49% of the stock is owned by institutional investors and hedge funds.

WARNING: “Valley National Bancorp (VLY) Director Buys $24,949.20 in Stock” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright laws. The correct version of this article can be read at https://www.dispatchtribunal.com/2018/02/14/valley-national-bancorp-vly-director-marc-j-lenner-purchases-2040-shares-of-stock.html.

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.

Receive News & Ratings for Valley National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valley National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply