Amalgamated Bank Sells 15,901 Shares of Valley National Bancorp (NASDAQ:VLY)

Amalgamated Bank trimmed its position in shares of Valley National Bancorp (NASDAQ:VLY) by 7.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 207,932 shares of the company’s stock after selling 15,901 shares during the quarter. Amalgamated Bank’s holdings in Valley National Bancorp were worth $1,451,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Valley National Bancorp by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 45,625,380 shares of the company’s stock valued at $495,492,000 after buying an additional 198,236 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Valley National Bancorp by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 25,722,816 shares of the company’s stock worth $179,537,000 after buying an additional 337,416 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Valley National Bancorp by 6.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,814,048 shares of the company’s stock worth $30,561,000 after acquiring an additional 160,854 shares during the period. Leeward Investments LLC MA boosted its stake in Valley National Bancorp by 5.6% in the second quarter. Leeward Investments LLC MA now owns 1,900,986 shares of the company’s stock valued at $13,269,000 after acquiring an additional 101,099 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Valley National Bancorp by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,619,511 shares of the company’s stock valued at $12,891,000 after acquiring an additional 26,209 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Valley National Bancorp Stock Up 1.7 %

VLY stock opened at $8.81 on Friday. The company’s 50 day moving average is $8.34 and its 200 day moving average is $7.70. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 10.36 and a beta of 1.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.51. Valley National Bancorp has a 1-year low of $6.47 and a 1-year high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). Valley National Bancorp had a return on equity of 6.53% and a net margin of 10.79%. The company had revenue of $884.68 million during the quarter, compared to the consensus estimate of $458.67 million. During the same period in the previous year, the company earned $0.28 EPS. Sell-side analysts predict that Valley National Bancorp will post 0.7 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.44 dividend on an annualized basis and a yield of 4.99%. Valley National Bancorp’s payout ratio is 51.76%.

Analysts Set New Price Targets

Several equities analysts have weighed in on VLY shares. Morgan Stanley raised Valley National Bancorp from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $8.00 to $9.50 in a report on Monday, August 5th. Wedbush lifted their price objective on Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday. Royal Bank of Canada raised their price target on Valley National Bancorp from $8.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. StockNews.com lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Valley National Bancorp from $8.50 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.56.

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.