American Century Companies Inc. raised its position in Valley National Bancorp (NYSE:VLY) by 52.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,504,366 shares of the financial services provider’s stock after buying an additional 2,224,024 shares during the period. American Century Companies Inc. owned about 2.46% of Valley National Bancorp worth $76,817,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its position in Valley National Bancorp by 9,915.0% in the first quarter. BlackRock Inc. now owns 31,310,183 shares of the financial services provider’s stock worth $369,461,000 after buying an additional 30,997,551 shares during the last quarter. Vanguard Group Inc. raised its position in Valley National Bancorp by 8.2% in the first quarter. Vanguard Group Inc. now owns 21,432,081 shares of the financial services provider’s stock worth $252,898,000 after buying an additional 1,630,803 shares during the last quarter. State Street Corp raised its position in Valley National Bancorp by 12.2% in the first quarter. State Street Corp now owns 14,739,234 shares of the financial services provider’s stock worth $173,924,000 after buying an additional 1,598,627 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Valley National Bancorp by 11.8% in the first quarter. Dimensional Fund Advisors LP now owns 12,695,260 shares of the financial services provider’s stock worth $149,804,000 after buying an additional 1,344,805 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in Valley National Bancorp by 3.1% in the first quarter. Macquarie Group Ltd. now owns 5,302,075 shares of the financial services provider’s stock worth $62,564,000 after buying an additional 157,066 shares during the last quarter. Institutional investors and hedge funds own 61.89% of the company’s stock.

Valley National Bancorp (NYSE VLY) opened at 11.27 on Monday. The company’s 50-day moving average price is $11.67 and its 200 day moving average price is $11.83. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 16.10 and a beta of 0.90. Valley National Bancorp has a 52 week low of $9.23 and a 52 week high of $12.82.

Valley National Bancorp (NYSE:VLY) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.18 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.18. The company had revenue of $195.79 million for the quarter, compared to analysts’ expectations 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 prior year, the company posted $0.15 EPS. On average, analysts predict that Valley National Bancorp will post $0.71 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 15th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Thursday, September 14th. Valley National Bancorp’s payout ratio is currently 62.86%.

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VLY has been the topic of a number of recent analyst reports. BidaskClub lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Piper Jaffray Companies reiterated a “neutral” rating and issued a $13.00 price objective (up from $12.00) on shares of Valley National Bancorp in a research note on Wednesday, August 9th. ValuEngine upgraded Valley National Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, June 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $11.50 price objective (up from $11.00) on shares of Valley National Bancorp in a research note on Friday, July 7th. Finally, Zacks Investment Research lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Valley National Bancorp has an average rating of “Hold” and a consensus target price of $12.67.

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 shares were sold at an average price of $11.91, for a total transaction of $470,385.45. Following the sale, the director now 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 accessible through this hyperlink. Corporate insiders own 3.07% of the company’s stock.

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.

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

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