On April 26, 2023 at 09:35:02 ET an unusually large $2,229.60K block of Put contracts in Valley National Bancorp (VLY) was bought, with a strike price of $8.00 / share, expiring in 142 day(s) (on September 15, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 2.67 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in VLY options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 713 funds or institutions reporting positions in Valley National Bancorp. This is an increase of 27 owner(s) or 3.94% in the last quarter. Average portfolio weight of all funds dedicated to VLY is 0.16%, a decrease of 6.86%. Total shares owned by institutions increased in the last three months by 6.49% to 353,598K shares. The put/call ratio of VLY is 5.10, indicating a bearish outlook.

Analyst Price Forecast Suggests 48.16% Upside

As of April 24, 2023, the average one-year price target for Valley National Bancorp is $12.34. The forecasts range from a low of $9.09 to a high of $15.75. The average price target represents an increase of 48.16% from its latest reported closing price of $8.33.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Valley National Bancorp is $2,227MM, an increase of 24.19%. The projected annual non-GAAP EPS is $1.51.

What are Other Shareholders Doing?

Guggenheim Active Allocation Fund holds 5K shares representing 0.00% ownership of the company. No change in the last quarter.

JESIX – Small Cap Index Trust NAV holds 89K shares representing 0.02% ownership of the company. In it’s prior filing, the firm reported owning 89K shares, representing an increase of 0.47%. The firm decreased its portfolio allocation in VLY by 0.11% over the last quarter.

PENN SERIES FUNDS INC – Small Cap Index Fund holds 15K shares representing 0.00% ownership of the company. No change in the last quarter.

Mirae Asset Global Investments Co. holds 186K shares representing 0.04% ownership of the company. No change in the last quarter.

National Asset Management holds 14K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 14K shares, representing a decrease of 1.33%. The firm decreased its portfolio allocation in VLY by 3.24% over the last quarter.

Valley National Bancorp Declares $0.11 Dividend

On March 3, 2023 the company declared a regular quarterly dividend of $0.11 per share ($0.44 annualized). Shareholders of record as of March 15, 2023 received the payment on April 3, 2023. Previously, the company paid $0.11 per share.

At the current share price of $8.33 / share, the stock’s dividend yield is 5.28%. Looking back five years and taking a sample every week, the average dividend yield has been 4.11%, the lowest has been 3.00%, and the highest has been 6.91%. The standard deviation of yields is 0.87 (n=237).

The current dividend yield is 1.36 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 0.39. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

Valley National Bancorp Background Information
(This description is provided by the company.)

As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with approximately $41 billion in assets. Valley is committed to giving people and businesses the power to succeed. Valley operates many convenient branch locations across New Jersey, New York, Florida and Alabama, and is committed to providing the most convenient service, the latest innovations and an experienced and knowledgeable team dedicated to meeting customer needs. Helping communities grow and prosper is the heart of Valley’s corporate citizenship philosophy.

See all Valley National Bancorp regulatory filings.

This article originally appeared on Fintel

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