Hillcrest Asset Management LLC Purchases 392 Shares of Valley National Bancorp (VLY)
Hillcrest Asset Management LLC increased its position in Valley National Bancorp (NYSE:VLY) by 0.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 700,124 shares of the financial services provider’s stock after purchasing an additional 392 shares during the period. Hillcrest Asset Management LLC owned approximately 0.27% of Valley National Bancorp worth $8,268,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in shares of Valley National Bancorp by 9,915.0% in the 1st quarter. BlackRock Inc. now owns 31,310,183 shares of the financial services provider’s stock worth $369,461,000 after purchasing an additional 30,997,551 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Valley National Bancorp by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 21,880,605 shares of the financial services provider’s stock worth $258,410,000 after purchasing an additional 448,524 shares in the last quarter. State Street Corp lifted its holdings in shares of Valley National Bancorp by 2.2% in the 2nd quarter. State Street Corp now owns 15,062,116 shares of the financial services provider’s stock worth $177,885,000 after purchasing an additional 322,882 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Valley National Bancorp by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,963,108 shares of the financial services provider’s stock worth $153,096,000 after purchasing an additional 267,848 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Valley National Bancorp by 52.0% in the 2nd quarter. American Century Companies Inc. now owns 6,504,366 shares of the financial services provider’s stock worth $76,817,000 after purchasing an additional 2,224,024 shares in the last quarter. Institutional investors own 61.89% of the company’s stock.
In other Valley National Bancorp news, Director Mary Guilfoile sold 39,495 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $11.91, for a total value of $470,385.45. Following the sale, the director now directly owns 258,719 shares of the company’s stock, valued at $3,081,343.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.07% of the company’s stock.
Valley National Bancorp (NYSE VLY) traded down 0.34% during midday trading on Friday, reaching $11.86. The company had a trading volume of 1,181,538 shares. Valley National Bancorp has a 12-month low of $9.49 and a 12-month high of $12.82. The stock has a market capitalization of $3.13 billion, a PE ratio of 16.94 and a beta of 0.91. The company has a 50-day moving average of $11.44 and a 200-day moving average of $11.64.
Valley National Bancorp (NYSE:VLY) last released its earnings results on Wednesday, July 26th. The financial services provider reported $0.18 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Valley National Bancorp had a return on equity of 8.39% and a net margin of 20.73%. The business had revenue of $195.79 million for the quarter, compared to the consensus estimate of $190.83 million. During the same period in the previous year, the company posted $0.15 earnings per share. On average, analysts predict that Valley National Bancorp will post $0.71 EPS for the current fiscal year.
The business also recently announced a dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were issued a $0.11 dividend. The ex-dividend date was Thursday, September 14th. Valley National Bancorp’s dividend payout ratio (DPR) is 62.86%.
A number of equities analysts recently issued reports on the company. Zacks Investment Research cut Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. BidaskClub cut Valley National Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Morgan Stanley reiterated an “equal weight” rating and issued a $11.50 target price (up from $11.00) on shares of Valley National Bancorp in a report on Friday, July 7th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $13.00 target price on shares of Valley National Bancorp in a report on Friday, September 29th. Finally, Hovde Group upgraded Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.50 target price on the stock in a report on Monday, July 31st. 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’s stock. The company presently has a consensus rating of “Hold” and an average price target of $12.67.
WARNING: This story was published by Daily Political and is owned by of Daily Political. If you are reading this story on another publication, it was stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this story can be read at https://www.dailypolitical.com/2017/10/14/hillcrest-asset-management-llc-purchases-392-shares-of-valley-national-bancorp-vly.html.
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.
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.