Texas Permanent School Fund raised its stake in shares of Valley National Bancorp (NYSE:VLY) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 192,630 shares of the financial services provider’s stock after buying an additional 1,609 shares during the period. Texas Permanent School Fund’s holdings in Valley National Bancorp were worth $2,275,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. MCF Advisors LLC acquired a new stake in Valley National Bancorp during the second quarter valued at approximately $118,000. Capital Fund Management S.A. acquired a new stake in Valley National Bancorp during the first quarter valued at approximately $138,000. Two Sigma Securities LLC acquired a new stake in Valley National Bancorp during the first quarter valued at approximately $158,000. Creative Planning raised its stake in Valley National Bancorp by 8.1% in the second quarter. Creative Planning now owns 13,841 shares of the financial services provider’s stock valued at $163,000 after buying an additional 1,041 shares in the last quarter. Finally, Parametrica Management Ltd acquired a new stake in Valley National Bancorp during the second quarter valued at approximately $166,000. Institutional investors and hedge funds own 61.63% of the company’s stock.

Shares of Valley National Bancorp (VLY) opened at 11.40 on Friday. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 16.29 and a beta of 0.90. Valley National Bancorp has a 12 month low of $9.09 and a 12 month high of $12.82. The company’s 50-day moving average is $11.81 and its 200-day moving average is $11.88.

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

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Several research firms have recently commented on VLY. Piper Jaffray Companies reiterated a “neutral” rating and issued a $13.00 price target (up from $12.00) on shares of Valley National Bancorp in a research report on Wednesday. BidaskClub lowered shares of Valley National Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Hovde Group upgraded shares of Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.50 price target on the stock in a research report on Monday, July 31st. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $11.50 price target (up from $11.00) on shares of Valley National Bancorp in a research report on Friday, July 7th. One 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 currently has a consensus rating of “Hold” and a consensus price target of $12.67.

In other news, Director Mary Guilfoile sold 5,140 shares of Valley National Bancorp stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $11.92, for a total value of $61,268.80. Following the transaction, the director now directly owns 258,719 shares of the company’s stock, valued at $3,083,930.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.07% of the company’s stock.

About Valley National Bancorp

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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