Endeavour Capital Advisors Inc. Decreases Stock Position in Valley National Bancorp (NASDAQ:VLY)

Endeavour Capital Advisors Inc. reduced its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 9.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,186,860 shares of the company’s stock after selling 125,843 shares during the period. Valley National Bancorp makes up 3.4% of Endeavour Capital Advisors Inc.’s investment portfolio, making the stock its 9th biggest position. Endeavour Capital Advisors Inc.’s holdings in Valley National Bancorp were worth $10,753,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP raised its position in Valley National Bancorp by 90.2% during the fourth quarter. Wellington Management Group LLP now owns 17,059,328 shares of the company’s stock valued at $154,558,000 after purchasing an additional 8,088,466 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Valley National Bancorp by 9.2% during the 4th quarter. Vanguard Group Inc. now owns 50,002,161 shares of the company’s stock valued at $453,020,000 after purchasing an additional 4,204,651 shares during the last quarter. Norges Bank purchased a new position in shares of Valley National Bancorp during the 4th quarter valued at about $31,490,000. Burkehill Global Management LP bought a new stake in Valley National Bancorp in the 4th quarter worth approximately $20,838,000. Finally, Bank of New York Mellon Corp boosted its stake in Valley National Bancorp by 27.8% in the fourth quarter. Bank of New York Mellon Corp now owns 6,101,280 shares of the company’s stock worth $55,278,000 after buying an additional 1,327,829 shares in the last quarter. 61.00% of the stock is owned by institutional investors.

Valley National Bancorp Price Performance

Shares of Valley National Bancorp stock opened at $8.89 on Wednesday. The business has a 50 day moving average of $9.53 and a 200 day moving average of $9.53. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.10. The company has a market cap of $4.98 billion, a PE ratio of 12.88 and a beta of 1.11. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02). Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. During the same quarter in the prior year, the business earned $0.22 earnings per share. As a group, equities research analysts forecast that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.11 per share. The ex-dividend date was Friday, March 14th. This represents a $0.44 annualized dividend and a yield of 4.95%. Valley National Bancorp’s payout ratio is 63.77%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays lifted their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Royal Bank of Canada boosted their price target on shares of Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Citigroup raised their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Piper Sandler raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 target price for the company in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. raised their price target on Valley National Bancorp from $10.50 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.78.

Insider Buying and Selling at Valley National Bancorp

In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total transaction of $510,500.00. Following the completion of the transaction, the executive vice president now owns 495,249 shares of the company’s stock, valued at approximately $5,056,492.29. This trade represents a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.88% of the company’s stock.

Valley National Bancorp Company Profile

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.