Jefferies Financial Group Inc. Buys Shares of 102,200 Valley National Bancorp $VLY

Jefferies Financial Group Inc. bought a new stake in shares of Valley National Bancorp (NASDAQ:VLY) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 102,200 shares of the company’s stock, valued at approximately $1,497,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of VLY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Valley National Bancorp by 5.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 282,143 shares of the company’s stock worth $2,508,000 after purchasing an additional 15,771 shares during the period. Jones Financial Companies Lllp bought a new stake in Valley National Bancorp during the 1st quarter valued at about $191,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Valley National Bancorp by 21.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,445,644 shares of the company’s stock valued at $12,852,000 after buying an additional 255,870 shares during the period. Focus Partners Wealth boosted its position in Valley National Bancorp by 34.9% in the 1st quarter. Focus Partners Wealth now owns 60,868 shares of the company’s stock valued at $541,000 after buying an additional 15,761 shares during the period. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Valley National Bancorp during the second quarter worth approximately $119,000. 61.00% of the stock is owned by institutional investors.

Valley National Bancorp Stock Down 0.2%

Valley National Bancorp stock opened at $13.92 on Friday. Valley National Bancorp has a 1-year low of $9.64 and a 1-year high of $15.20. The business has a fifty day moving average price of $14.56 and a 200-day moving average price of $13.61. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 11.80 and a beta of 1.04.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01). The business had revenue of $560.74 million during the quarter, compared to analyst estimates of $557.16 million. Valley National Bancorp had a return on equity of 9.13% and a net margin of 19.49%.Valley National Bancorp’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 EPS. Equities research analysts forecast that Valley National Bancorp will post 1.27 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.2%. Valley National Bancorp’s dividend payout ratio (DPR) is currently 37.29%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on VLY. National Bank Financial set a $17.50 price objective on Valley National Bancorp in a research note on Wednesday, July 1st. TD Cowen reissued a “buy” rating on shares of Valley National Bancorp in a research report on Wednesday, June 17th. Morgan Stanley restated a “positive” rating on shares of Valley National Bancorp in a report on Monday, June 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Valley National Bancorp in a research report on Monday, July 6th. Finally, UBS Group set a $17.00 price target on shares of Valley National Bancorp in a research report on Tuesday, July 7th. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.10.

Insider Activity at Valley National Bancorp

In other news, CAO Mitchell L. Crandell sold 25,495 shares of Valley National Bancorp 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 completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.06% of the company’s stock.

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.