National Planning Corp decreased its stake in Valley National Bancorp (NYSE:VLY) by 1.0% during the second quarter, Holdings Channel reports. The fund owned 13,523 shares of the financial services provider’s stock after selling 131 shares during the period. National Planning Corp’s holdings in Valley National Bancorp were worth $164,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. MCF Advisors LLC acquired a new stake in Valley National Bancorp during the second quarter valued at approximately $118,000. Capital Fund Management S.A. acquired a new stake in Valley National Bancorp during the first quarter valued at approximately $138,000. Two Sigma Securities LLC acquired a new stake in Valley National Bancorp during the first quarter valued at approximately $158,000. Creative Planning raised its stake in Valley National Bancorp by 8.1% in the second quarter. Creative Planning now owns 13,841 shares of the financial services provider’s stock valued at $163,000 after buying an additional 1,041 shares during the last quarter. Finally, Parametrica Management Ltd acquired a new stake in Valley National Bancorp during the second quarter valued at approximately $166,000. 62.47% of the stock is currently owned by institutional investors and hedge funds.
Shares of Valley National Bancorp (VLY) opened at 11.39 on Thursday. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 16.27 and a beta of 0.90. The company’s 50-day moving average is $11.81 and its 200 day moving average is $11.87. Valley National Bancorp has a 1-year low of $9.19 and a 1-year high of $12.82.
Valley National Bancorp (NYSE:VLY) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. Valley National Bancorp had a net margin of 20.73% and a return on equity of 8.39%. The business had revenue of $195.79 million for the quarter, compared to analysts’ expectations of $190.83 million. During the same period last year, the business earned $0.15 EPS. Equities analysts anticipate that Valley National Bancorp will post $0.71 EPS for the current year.
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VLY has been the topic of several research reports. ValuEngine raised shares of Valley National Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, June 6th. Morgan Stanley reissued an “equal weight” rating and set a $11.50 price objective (up previously from $11.00) on shares of Valley National Bancorp in a research note on Friday, July 7th. BidaskClub raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Zacks Investment Research raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Piper Jaffray Companies reissued a “neutral” rating and set a $13.00 price objective (up previously from $12.00) on shares of Valley National Bancorp in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Valley National Bancorp presently has a consensus rating of “Hold” and a consensus target price of $12.67.
In other news, Director Mary Guilfoile sold 39,495 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $11.91, for a total value of $470,385.45. Following the sale, the director now directly owns 258,719 shares in the company, valued at approximately $3,081,343.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.07% of the stock is currently owned by company insiders.
Valley National Bancorp Company Profile
Valley National Bancorp is the bank holding company for Valley National Bank (the Bank). The Bank provides a range of commercial, retail, insurance and wealth management financial services products. The Company’s segments include Consumer Lending, Commercial Lending, Investment Management, and Corporate and Other Adjustments.
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