Macquarie Group Ltd. boosted its stake in shares of Valley National Bancorp (NYSE:VLY) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,250,903 shares of the financial services provider’s stock after buying an additional 150,441 shares during the period. Macquarie Group Ltd. owned 2.06% of Valley National Bancorp worth $47,888,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP raised its position in Valley National Bancorp by 24.4% in the second quarter. First Trust Advisors LP now owns 455,323 shares of the financial services provider’s stock valued at $4,153,000 after buying an additional 89,411 shares during the period. Mcrae Capital Management Inc. raised its position in Valley National Bancorp by 20.9% in the second quarter. Mcrae Capital Management Inc. now owns 21,815 shares of the financial services provider’s stock valued at $199,000 after buying an additional 3,768 shares during the period. First National Trust Co. raised its position in Valley National Bancorp by 3.4% in the second quarter. First National Trust Co. now owns 19,295 shares of the financial services provider’s stock valued at $176,000 after buying an additional 630 shares during the period. Mutual of America Capital Management LLC raised its position in Valley National Bancorp by 12.8% in the second quarter. Mutual of America Capital Management LLC now owns 169,991 shares of the financial services provider’s stock valued at $1,550,000 after buying an additional 19,276 shares during the period. Finally, Commonwealth Equity Services Inc raised its position in Valley National Bancorp by 17.9% in the second quarter. Commonwealth Equity Services Inc now owns 81,943 shares of the financial services provider’s stock valued at $747,000 after buying an additional 12,453 shares during the period. Hedge funds and other institutional investors own 55.20% of the company’s stock.

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

Shares of Valley National Bancorp (NYSE:VLY) traded up 0.72% during midday trading on Friday, reaching $11.25. The company’s stock had a trading volume of 1,717,703 shares. Valley National Bancorp has a 12-month low of $8.31 and a 12-month high of $11.32. The company has a market cap of $2.86 billion, a P/E ratio of 24.51 and a beta of 0.79. The stock’s 50-day moving average price is $9.78 and its 200-day moving average price is $9.40.

Valley National Bancorp (NYSE:VLY) last announced its quarterly earnings results on Wednesday, October 26th. The financial services provider reported $0.16 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16. Valley National Bancorp had a return on equity of 7.36% and a net margin of 14.51%. During the same period last year, the firm posted $0.15 EPS. On average, analysts expect that Valley National Bancorp will post $0.63 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend is Tuesday, December 13th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 95.65%.

VLY has been the topic of several analyst reports. Zacks Investment Research upgraded Valley National Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 4th. Sandler O’Neill lowered Valley National Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, November 14th. Finally, Piper Jaffray Cos. lowered Valley National Bancorp from an “overweight” rating to a “neutral” rating and cut their target price for the company from $10.00 to $9.50 in a research note on Monday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Valley National Bancorp presently has an average rating of “Hold” and an average target price of $9.50.

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.

5 Day Chart for NYSE:VLY

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