Valley National Bancorp (VLY) Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. cut its stake in shares of Valley National Bancorp (NYSE:VLY) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,515,037 shares of the financial services provider’s stock after selling 99,547 shares during the quarter. Goldman Sachs Group Inc. owned about 0.95% of Valley National Bancorp worth $29,702,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in VLY. UBS Asset Management Americas Inc. grew its holdings in shares of Valley National Bancorp by 19.2% during the first quarter. UBS Asset Management Americas Inc. now owns 178,212 shares of the financial services provider’s stock valued at $2,103,000 after buying an additional 28,685 shares during the last quarter. Karp Capital Management Corp purchased a new stake in shares of Valley National Bancorp during the first quarter valued at $451,000. Ameriprise Financial Inc. grew its holdings in shares of Valley National Bancorp by 3.7% during the first quarter. Ameriprise Financial Inc. now owns 1,044,895 shares of the financial services provider’s stock valued at $12,331,000 after buying an additional 36,817 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Valley National Bancorp by 1.6% during the first quarter. JPMorgan Chase & Co. now owns 129,300 shares of the financial services provider’s stock valued at $1,526,000 after buying an additional 1,997 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of Valley National Bancorp by 109.0% during the first quarter. Prudential Financial Inc. now owns 330,094 shares of the financial services provider’s stock valued at $3,895,000 after buying an additional 172,120 shares during the last quarter. 61.89% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Valley National Bancorp (NYSE VLY) opened at 12.00 on Wednesday. Valley National Bancorp has a 12-month low of $9.36 and a 12-month high of $12.82. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 17.14 and a beta of 0.91. The firm has a 50-day moving average of $11.38 and a 200 day moving average of $11.63.

Valley National Bancorp (NYSE:VLY) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The company had revenue of $195.79 million for the quarter, compared to analyst estimates of $190.83 million. Valley National Bancorp had a net margin of 20.73% and a return on equity of 8.39%. During the same period in the previous year, the business posted $0.15 earnings per share. Equities analysts forecast that Valley National Bancorp will post $0.71 earnings per share for the current fiscal year.

The firm also recently disclosed a dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were paid a $0.11 dividend. The ex-dividend date of this dividend was Thursday, September 14th. Valley National Bancorp’s dividend payout ratio is presently 62.86%.

In other news, Director Mary Guilfoile sold 39,495 shares of Valley National Bancorp 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 owns 258,719 shares of the company’s stock, valued at $3,081,343.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.07% of the company’s stock.

A number of brokerages have recently weighed in on VLY. Zacks Investment Research lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. BidaskClub lowered shares of Valley National Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Morgan Stanley reissued an “equal weight” rating and set a $11.50 price objective (up from $11.00) on shares of Valley National Bancorp in a report on Friday, July 7th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $13.00 price target on shares of Valley National Bancorp in a report on Friday, September 29th. Finally, Hovde Group raised shares of Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.50 price target on the stock in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Valley National Bancorp has an average rating of “Hold” and a consensus price target of $12.67.

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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Institutional Ownership by Quarter for Valley National Bancorp (NYSE:VLY)

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