Valley National Bancorp (VLY) Stake Increased by Citigroup Inc.

Citigroup Inc. lifted its stake in shares of Valley National Bancorp (NYSE:VLY) by 0.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,892 shares of the financial services provider’s stock after buying an additional 512 shares during the quarter. Citigroup Inc.’s holdings in Valley National Bancorp were worth $1,321,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of VLY. Pinebridge Investments L.P. boosted its holdings in shares of Valley National Bancorp by 7.1% in the 2nd quarter. Pinebridge Investments L.P. now owns 139,598 shares of the financial services provider’s stock valued at $1,649,000 after buying an additional 9,265 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in Valley National Bancorp by 5.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 216,671 shares of the financial services provider’s stock worth $2,559,000 after acquiring an additional 10,748 shares in the last quarter. New York State Common Retirement Fund raised its stake in Valley National Bancorp by 11.1% during the 2nd quarter. New York State Common Retirement Fund now owns 276,400 shares of the financial services provider’s stock worth $3,264,000 after acquiring an additional 27,599 shares in the last quarter. Thrivent Financial For Lutherans raised its stake in Valley National Bancorp by 8.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 53,534 shares of the financial services provider’s stock worth $632,000 after acquiring an additional 4,150 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Valley National Bancorp by 196.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 30,403 shares of the financial services provider’s stock worth $358,000 after acquiring an additional 20,145 shares in the last quarter. Institutional investors and hedge funds own 61.88% of the company’s stock.

In related news, Director Mary Guilfoile sold 39,495 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $11.91, for a total transaction of $470,385.45. Following the sale, the director now directly owns 258,719 shares of the company’s stock, valued at approximately $3,081,343.29. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.07% of the company’s stock.

A number of brokerages recently weighed in on VLY. ValuEngine raised shares of Valley National Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, June 6th. Zacks Investment Research upgraded shares of Valley National Bancorp from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Wednesday, September 27th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $13.00 price objective on shares of Valley National Bancorp in a report on Friday, September 29th. Morgan Stanley reaffirmed an “equal weight” rating and set a $11.50 price objective (up previously from $11.00) on shares of Valley National Bancorp in a report on Friday, July 7th. Finally, BidaskClub upgraded Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Valley National Bancorp currently has an average rating of “Hold” and an average price target of $12.67.

Valley National Bancorp (VLY) opened at 12.05 on Wednesday. The firm has a market capitalization of $3.18 billion, a PE ratio of 17.21 and a beta of 0.91. The stock has a 50 day moving average of $11.28 and a 200-day moving average of $11.63. Valley National Bancorp has a one year low of $9.36 and a one year high of $12.82.

Valley National Bancorp (NYSE:VLY) last released its earnings results on Wednesday, July 26th. The financial services provider reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The company had revenue of $195.79 million for the quarter, compared to the consensus estimate of $190.83 million. Valley National Bancorp had a return on equity of 8.39% and a net margin of 20.73%. During the same quarter last year, the business posted $0.15 EPS. On average, equities analysts predict that Valley National Bancorp will post $0.71 EPS for the current year.

The company also recently declared a dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were issued a $0.11 dividend. The ex-dividend date of this dividend was Thursday, September 14th. Valley National Bancorp’s dividend payout ratio (DPR) is 62.86%.

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Valley National Bancorp 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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