Mariner Wealth Advisors LLC held its stake in shares of Valley National Bancorp (NYSE:VLY) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 58,204 shares of the financial services provider’s stock at the end of the 2nd quarter. Mariner Wealth Advisors LLC’s holdings in Valley National Bancorp were worth $687,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. BlackRock Inc. lifted its holdings in Valley National Bancorp by 9,915.0% during the 1st 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 last quarter. Vanguard Group Inc. lifted its holdings in Valley National Bancorp by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 21,880,605 shares of the financial services provider’s stock valued at $258,410,000 after purchasing an additional 448,524 shares during the last quarter. State Street Corp lifted its holdings in Valley National Bancorp by 12.2% during the 1st 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 last quarter. Dimensional Fund Advisors LP lifted its holdings in Valley National Bancorp by 11.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,695,260 shares of the financial services provider’s stock valued at $149,804,000 after purchasing an additional 1,344,805 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Valley National Bancorp by 52.0% during the 2nd 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 last quarter. 61.88% of the stock is owned by institutional investors and hedge funds.

In other news, Director Mary Guilfoile sold 39,495 shares of the stock in a transaction on Friday, August 4th. The stock was 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 in the company, valued at approximately $3,081,343.29. The transaction 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.

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VLY has been the subject of several research reports. BidaskClub downgraded Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Keefe, Bruyette & Woods raised Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 price target for the company in a report on Thursday, July 27th. Zacks Investment Research downgraded Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Wedbush reissued a “neutral” rating and set a $12.00 target price on shares of Valley National Bancorp in a report on Tuesday, June 27th. Finally, ValuEngine raised Valley National Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $12.67.

Shares of Valley National Bancorp (NYSE VLY) opened at 11.39 on Friday. The stock’s 50 day moving average price is $11.28 and its 200-day moving average price is $11.67. Valley National Bancorp has a 12-month low of $9.23 and a 12-month high of $12.82. The firm has a market cap of $3.01 billion, a P/E ratio of 16.27 and a beta of 0.91.

Valley National Bancorp (NYSE:VLY) last posted its quarterly 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 company had revenue of $195.79 million during the quarter, compared to the consensus estimate of $190.83 million. Valley National Bancorp had a return on equity of 8.39% and a net margin of 20.73%. During the same quarter in the prior year, the company earned $0.15 EPS. On average, analysts predict that Valley National Bancorp will post $0.71 earnings per share for the current fiscal 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 dividend of $0.11 per share. The ex-dividend date is Thursday, September 14th. Valley National Bancorp’s payout ratio is 62.86%.

Valley National Bancorp Company 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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