Valley National Bancorp (VLY) Shares Bought by Flinton Capital Management LLC

Flinton Capital Management LLC lifted its holdings in shares of Valley National Bancorp (NYSE:VLY) by 68.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 23,520 shares of the financial services provider’s stock after acquiring an additional 9,548 shares during the period. Flinton Capital Management LLC’s holdings in Valley National Bancorp were worth $278,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of VLY. BlackRock Inc. grew its stake in shares of Valley National Bancorp by 9,915.0% during the first quarter. BlackRock Inc. now owns 31,310,183 shares of the financial services provider’s stock worth $369,461,000 after acquiring an additional 30,997,551 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Valley National Bancorp by 52.0% during the second quarter. American Century Companies Inc. now owns 6,504,366 shares of the financial services provider’s stock worth $76,817,000 after acquiring an additional 2,224,024 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Valley National Bancorp by 8.2% during the first quarter. Vanguard Group Inc. now owns 21,432,081 shares of the financial services provider’s stock worth $252,898,000 after acquiring an additional 1,630,803 shares during the last quarter. State Street Corp grew its stake in shares of Valley National Bancorp by 12.2% during the first quarter. State Street Corp now owns 14,739,234 shares of the financial services provider’s stock worth $173,924,000 after acquiring an additional 1,598,627 shares during the last quarter. Finally, Teachers Advisors LLC grew its stake in shares of Valley National Bancorp by 341.0% during the first quarter. Teachers Advisors LLC now owns 1,940,103 shares of the financial services provider’s stock worth $22,893,000 after acquiring an additional 1,500,161 shares during the last quarter. Institutional investors and hedge funds own 61.89% of the company’s stock.

Shares of Valley National Bancorp (VLY) opened at 11.90 on Friday. Valley National Bancorp has a 12 month low of $9.46 and a 12 month high of $12.82. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 17.00 and a beta of 0.91. The company has a 50-day moving average price of $11.43 and a 200-day moving average price of $11.64.

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 analysts’ consensus estimates of $0.18. The firm had revenue of $195.79 million for 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 last year, the business posted $0.15 EPS. On average, analysts expect that Valley National Bancorp will post $0.71 EPS for the current fiscal year.

The company also recently declared a dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, September 14th. Valley National Bancorp’s dividend payout ratio is presently 62.86%.

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In related news, Director Mary Guilfoile sold 39,495 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 258,719 shares in the company, valued at approximately $3,081,343.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.07% of the company’s stock.

VLY has been the topic of a number of research analyst reports. BidaskClub lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Wedbush restated a “neutral” rating and set a $12.00 price target on shares of Valley National Bancorp in a research note on Tuesday, June 27th. Morgan Stanley restated an “equal weight” rating and set a $11.50 price target (up previously from $11.00) on shares of Valley National Bancorp in a research note on Friday, July 7th. Zacks Investment Research lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Finally, Keefe, Bruyette & Woods upgraded Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 price target on the stock in a research note on Thursday, July 27th. One investment 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 stock currently has a consensus rating of “Hold” and an average price target of $12.67.

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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