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.
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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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