Retirement Systems of Alabama lowered its stake in shares of Valley National Bancorp (NYSE:VLY) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 340,130 shares of the financial services provider’s stock after selling 489 shares during the period. Retirement Systems of Alabama owned 0.13% of Valley National Bancorp worth $4,017,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Amalgamated Bank increased its position in shares of Valley National Bancorp by 0.3% in the first quarter. Amalgamated Bank now owns 34,972 shares of the financial services provider’s stock valued at $413,000 after buying an additional 103 shares in the last quarter. Condor Capital Management increased its position in shares of Valley National Bancorp by 0.8% in the first quarter. Condor Capital Management now owns 36,509 shares of the financial services provider’s stock valued at $431,000 after buying an additional 291 shares in the last quarter. LS Investment Advisors LLC increased its position in shares of Valley National Bancorp by 2.1% in the first quarter. LS Investment Advisors LLC now owns 17,867 shares of the financial services provider’s stock valued at $211,000 after buying an additional 363 shares in the last quarter. World Asset Management Inc increased its position in shares of Valley National Bancorp by 2.3% in the second quarter. World Asset Management Inc now owns 16,510 shares of the financial services provider’s stock valued at $195,000 after buying an additional 377 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in shares of Valley National Bancorp by 5.1% in the first quarter. Private Advisor Group LLC now owns 15,831 shares of the financial services provider’s stock valued at $183,000 after buying an additional 771 shares in the last quarter. 62.47% of the stock is owned by hedge funds and other institutional investors.

Shares of Valley National Bancorp (VLY) opened at 11.12 on Monday. Valley National Bancorp has a 1-year low of $9.23 and a 1-year high of $12.82. The company’s 50 day moving average is $11.77 and its 200-day moving average is $11.86. The company has a market capitalization of $2.94 billion, a P/E ratio of 15.89 and a beta of 0.90.

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

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Several equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. BidaskClub downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $11.50 target price (up from $11.00) on shares of Valley National Bancorp in a research note on Friday, July 7th. Keefe, Bruyette & Woods raised shares of Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 target price for the company in a research note on Thursday, July 27th. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $13.00 target price (up from $12.00) on shares of Valley National Bancorp in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $12.67.

In other Valley National Bancorp news, Director Mary Guilfoile sold 39,495 shares of Valley National Bancorp stock in a transaction on Friday, August 4th. The shares were sold at an average price of $11.91, for a total transaction of $470,385.45. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.07% of the stock is owned by insiders.

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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