Jump Financial LLC Increases Stock Holdings in Valley National Bancorp (NASDAQ:VLY)

Jump Financial LLC grew its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 296.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 771,177 shares of the company’s stock after purchasing an additional 576,580 shares during the quarter. Jump Financial LLC’s holdings in Valley National Bancorp were worth $6,987,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC increased its holdings in Valley National Bancorp by 105.8% during the third quarter. FMR LLC now owns 32,146 shares of the company’s stock valued at $291,000 after buying an additional 16,529 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Valley National Bancorp by 6.0% in the 3rd quarter. HighTower Advisors LLC now owns 31,831 shares of the company’s stock worth $291,000 after purchasing an additional 1,806 shares in the last quarter. Stifel Financial Corp raised its holdings in Valley National Bancorp by 66.1% in the 3rd quarter. Stifel Financial Corp now owns 217,312 shares of the company’s stock worth $1,969,000 after purchasing an additional 86,473 shares during the period. Geode Capital Management LLC lifted its position in Valley National Bancorp by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,164,934 shares of the company’s stock valued at $101,170,000 after purchasing an additional 300,385 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co bought a new stake in Valley National Bancorp during the third quarter valued at about $154,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Analyst Ratings Changes

VLY has been the topic of a number of analyst reports. Barclays lowered their price objective on Valley National Bancorp from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Piper Sandler raised shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 price objective for the company in a research note on Monday, March 24th. Stephens restated an “overweight” rating and set a $12.50 target price on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Citigroup upped their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their price target on Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.67.

Insider Buying and Selling

In other news, EVP Joseph Chillura sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was 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 of the company’s stock, valued at $5,056,492.29. This trade represents a 9.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.88% of the stock is currently owned by company insiders.

Valley National Bancorp Price Performance

Shares of Valley National Bancorp stock opened at $8.14 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.10. The stock has a 50 day moving average of $9.06 and a 200 day moving average of $9.46. The firm has a market cap of $4.56 billion, a PE ratio of 11.80 and a beta of 1.06.

Valley National Bancorp (NASDAQ:VLY) last posted its earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share 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 in the previous year, the business earned $0.22 earnings per share. On average, research analysts expect that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date was Friday, March 14th. Valley National Bancorp’s payout ratio is 63.77%.

About Valley National Bancorp

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.