Ameritas Investment Partners Inc. boosted its stake in shares of Valley National Bancorp (NYSE:VLY) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,459 shares of the financial services provider’s stock after buying an additional 1,284 shares during the period. Ameritas Investment Partners Inc.’s holdings in Valley National Bancorp were worth $1,186,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Valley National Bancorp by 9.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,128 shares of the financial services provider’s stock worth $108,000 after buying an additional 817 shares during the period. Advisor Group Inc. lifted its holdings in Valley National Bancorp by 26.2% during the second quarter. Advisor Group Inc. now owns 9,795 shares of the financial services provider’s stock worth $115,000 after buying an additional 2,031 shares during the period. MCF Advisors LLC purchased a new stake in Valley National Bancorp during the second quarter worth $118,000. HRT Financial LLC purchased a new stake in Valley National Bancorp during the second quarter worth $120,000. Finally, Ffcm LLC lifted its holdings in Valley National Bancorp by 222.4% during the second quarter. Ffcm LLC now owns 10,262 shares of the financial services provider’s stock worth $124,000 after buying an additional 7,079 shares during the period. Institutional investors own 61.89% of the company’s stock.
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In other news, Director Mary Guilfoile sold 5,140 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $11.92, for a total value of $61,268.80. Following the sale, the director now directly owns 258,719 shares in the company, valued at $3,083,930.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.07% of the stock is currently owned by company insiders.
VLY has been the subject of a number of analyst reports. BidaskClub lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Wedbush restated a “neutral” rating and set a $12.00 target price on shares of Valley National Bancorp in a report on Tuesday, June 27th. Morgan Stanley restated an “equal weight” rating and set a $11.50 target price (up previously from $11.00) on shares of Valley National Bancorp in a report on Friday, July 7th. Zacks Investment Research lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Finally, Keefe, Bruyette & Woods upgraded Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 target price for the company in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Valley National Bancorp presently has an average rating of “Hold” and a consensus target price of $12.67.
Valley National Bancorp (VLY) opened at 11.80 on Wednesday. The firm has a market capitalization of $3.11 billion, a P/E ratio of 16.86 and a beta of 0.91. Valley National Bancorp has a 12 month low of $9.49 and a 12 month high of $12.82. The stock’s 50 day moving average price is $11.45 and its 200-day moving average price is $11.64.
Valley National Bancorp (NYSE:VLY) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $195.79 million for the quarter, compared to analysts’ expectations 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 period last 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 year.
The business also recently disclosed a dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were paid a $0.11 dividend. The ex-dividend date was Thursday, September 14th. Valley National Bancorp’s payout ratio is currently 62.86%.
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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