Breton Hill Capital Ltd. Lowers Holdings in Valley National Bancorp (VLY)

Breton Hill Capital Ltd. decreased its holdings in shares of Valley National Bancorp (NYSE:VLY) by 39.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,503 shares of the financial services provider’s stock after selling 14,865 shares during the period. Breton Hill Capital Ltd.’s holdings in Valley National Bancorp were worth $271,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings in Valley National Bancorp by 185.6% during the third quarter. Principal Financial Group Inc. now owns 3,230,525 shares of the financial services provider’s stock worth $38,928,000 after buying an additional 2,099,452 shares during the last quarter. Prudential Financial Inc. raised its holdings in Valley National Bancorp by 78.2% during the third quarter. Prudential Financial Inc. now owns 691,144 shares of the financial services provider’s stock worth $8,328,000 after buying an additional 303,260 shares during the last quarter. Stevens Capital Management LP acquired a new position in Valley National Bancorp during the third quarter worth $2,088,000. Chicago Equity Partners LLC raised its holdings in Valley National Bancorp by 22.0% during the third quarter. Chicago Equity Partners LLC now owns 637,215 shares of the financial services provider’s stock worth $7,678,000 after buying an additional 114,780 shares during the last quarter. Finally, Brookstone Capital Management raised its holdings in Valley National Bancorp by 20.2% during the third quarter. Brookstone Capital Management now owns 28,697 shares of the financial services provider’s stock worth $346,000 after buying an additional 4,819 shares during the last quarter. Hedge funds and other institutional investors own 62.58% of the company’s stock.

Shares of Valley National Bancorp (VLY) traded up $0.03 during mid-day trading on Friday, hitting $11.03. 1,957,300 shares of the stock traded hands, compared to its average volume of 1,945,587. The stock has a market capitalization of $2,916.00, a P/E ratio of 15.54 and a beta of 0.89. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.97 and a current ratio of 0.98. Valley National Bancorp has a 52 week low of $10.61 and a 52 week high of $12.82.

Valley National Bancorp (NYSE:VLY) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). The firm had revenue of $193.00 million during the quarter, compared to analysts’ expectations of $195.03 million. Valley National Bancorp had a net margin of 19.91% and a return on equity of 8.27%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. equities research analysts predict that Valley National Bancorp will post 0.69 earnings per share for the current year.

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VLY has been the topic of several research reports. BidaskClub downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Keefe, Bruyette & Woods upgraded shares of Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 price objective on the stock in a report on Thursday, July 27th. Hovde Group upgraded shares of Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.50 price objective on the stock in a report on Monday, July 31st. Zacks Investment Research upgraded shares of 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 set a $13.00 price objective (up previously from $12.00) on shares of Valley National Bancorp in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $12.67.

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.

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

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