Vanguard Group Inc. lifted its position in Valley National Bancorp (NYSE:VLY) by 2.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,880,605 shares of the financial services provider’s stock after purchasing an additional 448,524 shares during the period. Vanguard Group Inc. owned 8.29% of Valley National Bancorp worth $258,410,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in VLY. BlackRock Inc. boosted its holdings in shares of 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 valued at $369,461,000 after purchasing an additional 30,997,551 shares during the period. American Century Companies Inc. boosted its holdings in shares of Valley National Bancorp by 52.0% in the second quarter. American Century Companies Inc. now owns 6,504,366 shares of the financial services provider’s stock valued at $76,817,000 after purchasing an additional 2,224,024 shares during the period. State Street Corp boosted its holdings in shares of 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 valued at $173,924,000 after purchasing an additional 1,598,627 shares during the period. Teachers Advisors LLC boosted its holdings in shares of Valley National Bancorp by 341.0% in the first quarter. Teachers Advisors LLC now owns 1,940,103 shares of the financial services provider’s stock valued at $22,893,000 after purchasing an additional 1,500,161 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Valley National Bancorp by 15.0% in the second quarter. Northern Trust Corp now owns 5,870,281 shares of the financial services provider’s stock valued at $69,327,000 after purchasing an additional 764,098 shares during the period. Hedge funds and other institutional investors own 61.89% of the company’s stock.

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Shares of Valley National Bancorp (VLY) opened at 11.90 on Friday. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 17.00 and a beta of 0.91. Valley National Bancorp has a 12-month low of $9.46 and a 12-month high of $12.82. The firm’s 50-day moving average price is $11.43 and its 200-day moving average price is $11.64.

Valley National Bancorp (NYSE:VLY) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.18 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. The business had revenue of $195.79 million during 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 quarter in the previous year, the firm posted $0.15 earnings per share. On average, analysts forecast that Valley National Bancorp will post $0.71 EPS for the current fiscal year.

The firm also recently declared a dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were paid a $0.11 dividend. The ex-dividend date was Thursday, September 14th. Valley National Bancorp’s dividend payout ratio (DPR) is 62.86%.

VLY has been the subject of a number of research reports. Zacks Investment Research upgraded Valley National Bancorp from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Wednesday, September 27th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $13.00 price target on shares of Valley National Bancorp in a report on Friday, September 29th. Morgan Stanley restated an “equal weight” rating and set a $11.50 target price (up previously from $11.00) on shares of Valley National Bancorp in a report on Friday, July 7th. BidaskClub upgraded Valley National Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Finally, Piper Jaffray Companies restated a “neutral” rating and set a $13.00 target price (up previously from $12.00) on shares of Valley National Bancorp in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $12.67.

In other Valley National Bancorp news, Director Mary Guilfoile sold 39,495 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $11.91, for a total value of $470,385.45. Following the completion of the transaction, the director now owns 258,719 shares in the company, valued at $3,081,343.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.07% of the company’s stock.

Valley National Bancorp 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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