Geode Capital Management LLC boosted its position in shares of Valley National Bancorp (NYSE:VLY) by 7.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,004,062 shares of the financial services provider’s stock after buying an additional 140,387 shares during the period. Geode Capital Management LLC owned about 0.76% of Valley National Bancorp worth $23,647,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of VLY. Nisa Investment Advisors LLC raised its position in shares of Valley National Bancorp by 1.4% in the first quarter. Nisa Investment Advisors LLC now owns 120,441 shares of the financial services provider’s stock worth $1,421,000 after buying an additional 1,700 shares during the period. Boston Advisors LLC acquired a new position in shares of Valley National Bancorp during the first quarter worth about $7,757,000. Louisiana State Employees Retirement System raised its position in shares of Valley National Bancorp by 5.9% in the first quarter. Louisiana State Employees Retirement System now owns 66,600 shares of the financial services provider’s stock worth $786,000 after buying an additional 3,700 shares during the period. Bank of Montreal Can raised its position in shares of Valley National Bancorp by 12.6% in the first quarter. Bank of Montreal Can now owns 22,007 shares of the financial services provider’s stock worth $260,000 after buying an additional 2,466 shares during the period. Finally, Teachers Advisors LLC raised its position in shares of Valley National Bancorp by 2.3% in the fourth quarter. Teachers Advisors LLC now owns 439,942 shares of the financial services provider’s stock worth $5,121,000 after buying an additional 9,760 shares during the period. Hedge funds and other institutional investors own 61.61% of the company’s stock.

Shares of Valley National Bancorp (VLY) traded up 1.36% during mid-day trading on Friday, reaching $11.91. The company had a trading volume of 1,445,860 shares. The firm’s 50-day moving average is $11.81 and its 200 day moving average is $11.87. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 17.01 and a beta of 0.90. Valley National Bancorp has a 12 month low of $8.93 and a 12 month high of $12.82.

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

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VLY has been the subject of several research analyst reports. BidaskClub downgraded Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. ValuEngine raised Valley National Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, June 6th. Morgan Stanley reissued an “equal weight” rating and set a $11.50 price target (up from $11.00) on shares of Valley National Bancorp in a research report on Friday, July 7th. Zacks Investment Research lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Finally, Keefe, Bruyette & Woods raised Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 target price on the stock in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $12.08.

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.

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

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