State of Tennessee Treasury Department trimmed its holdings in shares of Valley National Bancorp (NYSE:VLY) by 40.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 150,000 shares of the financial services provider’s stock after selling 100,000 shares during the period. State of Tennessee Treasury Department owned approximately 0.06% of Valley National Bancorp worth $1,772,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Amalgamated Bank lifted its holdings in shares of Valley National Bancorp by 0.3% during the 1st quarter. Amalgamated Bank now owns 34,972 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 103 shares during the period. Pinnacle Associates Ltd. lifted its holdings in shares of Valley National Bancorp by 0.3% during the 2nd quarter. Pinnacle Associates Ltd. now owns 64,914 shares of the financial services provider’s stock worth $767,000 after acquiring an additional 225 shares during the period. LS Investment Advisors LLC lifted its holdings in shares of Valley National Bancorp by 2.1% during the 1st quarter. LS Investment Advisors LLC now owns 17,867 shares of the financial services provider’s stock worth $211,000 after acquiring an additional 363 shares during the period. World Asset Management Inc lifted its holdings in shares of Valley National Bancorp by 2.3% during the 2nd quarter. World Asset Management Inc now owns 16,510 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 377 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in shares of Valley National Bancorp by 5.1% during the 1st quarter. Private Advisor Group LLC now owns 15,831 shares of the financial services provider’s stock worth $183,000 after acquiring an additional 771 shares during the period. 61.88% of the stock is owned by institutional investors.

VLY has been the subject of a number of analyst reports. Wedbush reaffirmed a “neutral” rating and set a $12.00 price objective on shares of Valley National Bancorp in a report on Tuesday, June 27th. Piper Jaffray Companies reissued a “neutral” rating and set a $13.00 price target (up from $12.00) on shares of Valley National Bancorp in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. ValuEngine raised shares of Valley National Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, June 6th. Finally, Hovde Group raised shares of Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.50 price target for the company in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Valley National Bancorp has a consensus rating of “Hold” and an average target price of $12.67.

Valley National Bancorp (NYSE VLY) opened at 11.14 on Wednesday. The company’s 50-day moving average is $11.28 and its 200 day moving average is $11.67. Valley National Bancorp has a one year low of $9.23 and a one year high of $12.82. The company has a market capitalization of $2.94 billion, a P/E ratio of 15.91 and a beta of 0.91.

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 for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Valley National Bancorp had a net margin of 20.73% and a return on equity of 8.39%. The business had revenue of $195.79 million during the quarter, compared to analysts’ expectations of $190.83 million. During the same quarter in the prior year, the business posted $0.15 earnings per share. Analysts predict that Valley National Bancorp will post $0.71 EPS for the current year.

The company also recently disclosed a dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, September 14th. Valley National Bancorp’s dividend payout ratio is 62.86%.

In related news, Director Mary Guilfoile sold 39,495 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $11.91, for a total transaction of $470,385.45. Following the completion of the sale, the director now owns 258,719 shares of the company’s stock, valued at $3,081,343.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.07% of the company’s stock.

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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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