Federated Investors Inc. PA Sells 7,960 Shares of Valley National Bancorp (VLY)
Federated Investors Inc. PA decreased its position in shares of Valley National Bancorp (NYSE:VLY) by 5.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,334 shares of the financial services provider’s stock after selling 7,960 shares during the quarter. Federated Investors Inc. PA owned approximately 0.05% of Valley National Bancorp worth $1,622,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MCF Advisors LLC acquired a new stake in shares of Valley National Bancorp during the 2nd quarter valued at $118,000. Capital Fund Management S.A. acquired a new stake in shares of Valley National Bancorp during the 1st quarter valued at $138,000. Two Sigma Securities LLC acquired a new stake in shares of Valley National Bancorp during the 1st quarter valued at $158,000. Creative Planning boosted its holdings in shares of Valley National Bancorp by 8.1% during the 2nd quarter. Creative Planning now owns 13,841 shares of the financial services provider’s stock valued at $163,000 after acquiring an additional 1,041 shares in the last quarter. Finally, Parametrica Management Ltd acquired a new stake in shares of Valley National Bancorp during the 2nd quarter valued at $166,000. 61.89% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on VLY. ValuEngine raised Valley National Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, June 6th. BidaskClub lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Wedbush reaffirmed a “neutral” rating and set a $12.00 target price on shares of Valley National Bancorp in a research report on Tuesday, June 27th. Morgan Stanley reaffirmed an “equal weight” rating and set a $11.50 target price (up from $11.00) on shares of Valley National Bancorp in a research report on Friday, July 7th. Finally, Zacks Investment Research lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. One 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 stock. Valley National Bancorp currently has an average rating of “Hold” and a consensus target price of $12.67.
Shares of Valley National Bancorp (VLY) opened at 10.86 on Tuesday. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 15.51 and a beta of 0.91. Valley National Bancorp has a 12 month low of $9.23 and a 12 month high of $12.82. The company has a 50-day moving average price of $11.44 and a 200-day moving average price of $11.74.
Valley National Bancorp (NYSE:VLY) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.18. Valley National Bancorp had a net margin of 20.73% and a return on equity of 8.39%. The company had revenue of $195.79 million during the quarter, compared to the consensus estimate of $190.83 million. During the same period in the prior year, the firm earned $0.15 earnings per share. On average, equities analysts anticipate that Valley National Bancorp will post $0.71 EPS for the current year.
The business also recently declared a dividend, which will be paid on Monday, October 2nd. Investors 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 currently 62.86%.
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In other Valley National Bancorp news, Director Mary Guilfoile sold 39,495 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 258,719 shares of the company’s stock, valued at $3,081,343.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.07% of the stock is owned by corporate insiders.
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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