Jaffetilchin Investment Partners LLC Cuts Stock Holdings in Valley National Bancorp $VLY

Jaffetilchin Investment Partners LLC trimmed its stake in Valley National Bancorp (NASDAQ:VLY) by 58.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,004 shares of the company’s stock after selling 74,296 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Valley National Bancorp were worth $619,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of VLY. Azora Capital LP bought a new stake in Valley National Bancorp during the third quarter worth about $103,120,000. UBS Group AG increased its position in shares of Valley National Bancorp by 404.7% during the 3rd quarter. UBS Group AG now owns 5,867,611 shares of the company’s stock valued at $62,197,000 after purchasing an additional 4,704,971 shares during the last quarter. Norges Bank purchased a new position in shares of Valley National Bancorp during the 2nd quarter valued at about $31,276,000. Holocene Advisors LP purchased a new position in shares of Valley National Bancorp during the 3rd quarter valued at about $34,593,000. Finally, Freestone Grove Partners LP bought a new stake in Valley National Bancorp in the 3rd quarter worth approximately $27,607,000. 61.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Carlos J. Vazquez purchased 2,500 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was acquired at an average price of $13.45 per share, with a total value of $33,625.00. Following the transaction, the director directly owned 4,252 shares of the company’s stock, valued at approximately $57,189.40. This represents a 142.69% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.43% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on VLY shares. National Bank Financial set a $16.00 target price on Valley National Bancorp in a research note on Friday, January 30th. Weiss Ratings upgraded shares of Valley National Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. TD Cowen upped their price objective on shares of Valley National Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Keefe, Bruyette & Woods increased their target price on shares of Valley National Bancorp from $12.50 to $13.00 and gave the company a “market perform” rating in a report on Friday, January 30th. Finally, Hovde Group lifted their target price on shares of Valley National Bancorp from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Valley National Bancorp has an average rating of “Moderate Buy” and an average price target of $14.64.

Valley National Bancorp Price Performance

VLY opened at $12.28 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.97 and a quick ratio of 0.97. The stock’s 50 day simple moving average is $12.60 and its 200 day simple moving average is $11.68. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 12.16 and a beta of 1.07. Valley National Bancorp has a 1 year low of $7.48 and a 1 year high of $13.87.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $524.31 million. Valley National Bancorp had a return on equity of 7.92% and a net margin of 17.11%.The business’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.13 earnings per share. As a group, analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, March 13th. Valley National Bancorp’s dividend payout ratio is currently 43.56%.

About Valley National Bancorp

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.