Condor Capital Management boosted its position in Valley National Bancorp (NYSE:VLY) by 0.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,509 shares of the financial services provider’s stock after buying an additional 291 shares during the period. Condor Capital Management’s holdings in Valley National Bancorp were worth $431,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Comerica Bank boosted its stake in shares of Valley National Bancorp by 6.3% in the fourth quarter. Comerica Bank now owns 187,346 shares of the financial services provider’s stock worth $2,181,000 after buying an additional 11,029 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Valley National Bancorp by 7.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 7,450,708 shares of the financial services provider’s stock worth $72,495,000 after buying an additional 535,254 shares during the last quarter. HBK Sorce Advisory LLC boosted its stake in shares of Valley National Bancorp by 5.4% in the third quarter. HBK Sorce Advisory LLC now owns 201,137 shares of the financial services provider’s stock worth $1,957,000 after buying an additional 10,269 shares during the last quarter. Norges Bank purchased a new stake in shares of Valley National Bancorp during the fourth quarter worth about $27,167,000. Finally, Federated Investors Inc. PA boosted its stake in shares of Valley National Bancorp by 1.1% in the fourth quarter. Federated Investors Inc. PA now owns 96,535 shares of the financial services provider’s stock worth $1,124,000 after buying an additional 1,077 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.
Valley National Bancorp (NYSE:VLY) traded down 0.09% during trading on Friday, reaching $11.41. The company’s stock had a trading volume of 1,611,863 shares. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 17.29 and a beta of 0.90. The stock’s 50-day moving average is $11.79 and its 200 day moving average is $11.70. Valley National Bancorp has a 52-week low of $8.49 and a 52-week high of $12.82.
Valley National Bancorp (NYSE:VLY) last posted its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $0.17 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.17. The company had revenue of $189.80 million during the quarter, compared to the consensus estimate of $187.34 million. Valley National Bancorp had a return on equity of 7.78% and a net margin of 19.32%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the business earned $0.14 EPS. On average, analysts predict that Valley National Bancorp will post $0.71 EPS for the current fiscal year.
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VLY has been the subject of a number of research reports. Sandler O’Neill cut Valley National Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, January 31st. Zacks Investment Research upgraded Valley National Bancorp from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Friday, April 7th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $13.00 target price on shares of Valley National Bancorp in a report on Monday, April 3rd. Finally, Stephens began coverage on Valley National Bancorp in a report on Wednesday, April 5th. They issued an “equal weight” rating for the company. Five analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average target price of $11.83.
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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