Gallagher Fiduciary Advisors LLC Invests $880,000 in Valley National Bancorp $VLY

Gallagher Fiduciary Advisors LLC acquired a new position in shares of Valley National Bancorp (NASDAQ:VLY) during the second quarter, HoldingsChannel reports. The firm acquired 60,084 shares of the company’s stock, valued at approximately $880,000.

Other institutional investors have also added to or reduced their stakes in the company. Cedar Mountain Advisors LLC acquired a new position in Valley National Bancorp in the 1st quarter worth $26,000. Assetmark Inc. raised its stake in shares of Valley National Bancorp by 123.7% in the 1st quarter. Assetmark Inc. now owns 2,150 shares of the company’s stock valued at $26,000 after purchasing an additional 1,189 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Valley National Bancorp in the 4th quarter valued at about $26,000. Compass Financial Management LLC bought a new stake in shares of Valley National Bancorp in the second quarter valued at about $28,000. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Valley National Bancorp in the fourth quarter valued at about $39,000. 61.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Valley National Bancorp

In related news, CAO Mitchell L. Crandell sold 25,495 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $14.63, for a total transaction of $372,991.85. Following the transaction, the chief accounting officer directly owned 76,116 shares in the company, valued at approximately $1,113,577.08. The trade was a 25.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on VLY. Keefe, Bruyette & Woods increased their price objective on Valley National Bancorp from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Barclays boosted their target price on Valley National Bancorp from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Valley National Bancorp in a research report on Monday, July 6th. UBS Group set a $17.00 price target on shares of Valley National Bancorp in a research note on Tuesday, July 7th. Finally, TD Cowen reiterated a “buy” rating on shares of Valley National Bancorp in a report on Wednesday, June 17th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.03.

Valley National Bancorp Price Performance

NASDAQ:VLY opened at $14.10 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.96 and a current ratio of 0.96. The stock’s 50-day simple moving average is $14.57 and its 200 day simple moving average is $13.61. The company has a market cap of $7.79 billion, a P/E ratio of 11.95 and a beta of 1.04. Valley National Bancorp has a 52-week low of $9.64 and a 52-week high of $15.20.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, July 23rd. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.01). The company had revenue of $560.74 million for the quarter, compared to the consensus estimate of $557.16 million. Valley National Bancorp had a return on equity of 9.13% and a net margin of 19.49%.The business’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.23 EPS. As a group, sell-side analysts forecast that Valley National Bancorp will post 1.28 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 15th. Valley National Bancorp’s dividend payout ratio is presently 37.29%.

Valley National Bancorp Profile

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.