Valley National Bancorp (VLY) Holdings Trimmed by State of Wisconsin Investment Board

State of Wisconsin Investment Board decreased its holdings in Valley National Bancorp (NYSE:VLY) by 8.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 371,550 shares of the financial services provider’s stock after selling 34,700 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.14% of Valley National Bancorp worth $4,388,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of VLY. Teachers Advisors LLC grew its holdings in shares of Valley National Bancorp by 2.3% during the 4th quarter. Teachers Advisors LLC now owns 439,942 shares of the financial services provider’s stock worth $5,121,000 after purchasing an additional 9,760 shares during the period. Bank of Montreal Can grew its holdings in shares of Valley National Bancorp by 12.6% during the 1st quarter. Bank of Montreal Can now owns 22,007 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 2,466 shares during the period. Louisiana State Employees Retirement System grew its holdings in shares of Valley National Bancorp by 5.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 66,600 shares of the financial services provider’s stock worth $786,000 after purchasing an additional 3,700 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Valley National Bancorp by 1.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 120,441 shares of the financial services provider’s stock worth $1,421,000 after purchasing an additional 1,700 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in shares of Valley National Bancorp by 3.6% during the 1st quarter. Retirement Systems of Alabama now owns 340,619 shares of the financial services provider’s stock worth $4,019,000 after purchasing an additional 11,932 shares during the period. Institutional investors own 61.89% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This story was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this story on another site, it was illegally copied and reposted in violation of U.S. & international copyright law. The correct version of this story can be read at https://ledgergazette.com/2017/09/17/state-of-wisconsin-investment-board-cuts-stake-in-valley-national-bancorp-vly.html.

In other news, Director Mary Guilfoile sold 5,140 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $11.92, for a total value of $61,268.80. Following the completion of the transaction, the director now directly owns 258,719 shares in the company, valued at approximately $3,083,930.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.07% of the stock is currently owned by corporate insiders.

VLY has been the subject of a number of analyst reports. ValuEngine upgraded Valley National Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, June 6th. Morgan Stanley restated an “equal weight” rating and issued a $11.50 price target (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. Zacks Investment Research upgraded Valley National Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Piper Jaffray Companies restated a “neutral” rating and issued a $13.00 price target (up previously from $12.00) on shares of Valley National Bancorp in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $12.67.

Valley National Bancorp (NYSE:VLY) traded up 0.64% during midday trading on Friday, hitting $10.98. The company had a trading volume of 4,639,101 shares. Valley National Bancorp has a one year low of $9.23 and a one year high of $12.82. The company has a market cap of $2.90 billion, a P/E ratio of 15.69 and a beta of 0.91. The company’s 50 day moving average is $11.32 and its 200-day moving average is $11.70.

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. Valley National Bancorp had a return on equity of 8.39% and a net margin of 20.73%. The company had revenue of $195.79 million during the quarter, compared to analysts’ expectations of $190.83 million. During the same period in the prior year, the company earned $0.15 EPS. On average, equities analysts predict that Valley National Bancorp will post $0.71 EPS for the current year.

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

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)

Receive News & Ratings for Valley National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valley National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply