LS Investment Advisors LLC boosted its position in Valley National Bancorp (NYSE:VLY) by 16.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,822 shares of the financial services provider’s stock after buying an additional 2,955 shares during the period. LS Investment Advisors LLC’s holdings in Valley National Bancorp were worth $246,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the company. Teachers Advisors LLC increased its position in Valley National Bancorp by 2.3% in the fourth quarter. Teachers Advisors LLC now owns 439,942 shares of the financial services provider’s stock worth $5,121,000 after buying an additional 9,760 shares during the period. Bank of Montreal Can increased its position in Valley National Bancorp by 12.6% in the first quarter. Bank of Montreal Can now owns 22,007 shares of the financial services provider’s stock worth $260,000 after buying an additional 2,466 shares during the period. Louisiana State Employees Retirement System increased its position in Valley National Bancorp by 5.9% in the first quarter. Louisiana State Employees Retirement System now owns 66,600 shares of the financial services provider’s stock worth $786,000 after buying an additional 3,700 shares during the period. Boston Advisors LLC purchased a new position in Valley National Bancorp during the first quarter worth approximately $7,757,000. Finally, Nisa Investment Advisors LLC increased its position in Valley National Bancorp by 1.4% in the first quarter. Nisa Investment Advisors LLC now owns 120,441 shares of the financial services provider’s stock worth $1,421,000 after buying an additional 1,700 shares during the period. Institutional investors own 61.61% of the company’s stock.
Shares of Valley National Bancorp (VLY) traded up 1.36% during midday trading on Friday, hitting $11.91. The company had a trading volume of 1,445,860 shares. Valley National Bancorp has a one year low of $8.93 and a one year high of $12.82. The company’s 50 day moving average is $11.81 and its 200 day moving average is $11.87. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 17.01 and a beta of 0.90.
Valley National Bancorp (NYSE:VLY) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. Valley National Bancorp had a return on equity of 8.39% and a net margin of 20.73%. The company had revenue of $195.79 million during the quarter, compared to analysts’ expectations of $190.83 million. During the same quarter in the previous year, the firm earned $0.15 earnings per share. Equities analysts forecast that Valley National Bancorp will post $0.71 earnings per share for the current fiscal year.
VLY has been the topic of a number of research reports. Zacks Investment Research downgraded Valley National Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, April 8th. ValuEngine upgraded Valley National Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, June 6th. BidaskClub downgraded Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Wedbush reiterated a “neutral” rating and set a $12.00 target price on shares of Valley National Bancorp in a report on Tuesday, June 27th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $11.50 target price (up from $11.00) on shares of Valley National Bancorp in a report on Friday, July 7th. 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. The company has an average rating of “Hold” and an average price target of $12.08.
In other Valley National Bancorp news, Director Mary Guilfoile sold 5,140 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $11.92, for a total value of $61,268.80. Following the completion of the sale, the director now owns 258,719 shares of the company’s stock, valued at $3,083,930.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.07% of the stock is owned by insiders.
About Valley National Bancorp
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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