Rhumbline Advisers boosted its position in Valley National Bancorp (NYSE:VLY) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,015,037 shares of the financial services provider’s stock after buying an additional 12,826 shares during the quarter. Rhumbline Advisers’ holdings in Valley National Bancorp were worth $9,724,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in VLY. Truvestments Capital LLC acquired a new position in Valley National Bancorp in the first quarter valued at approximately $29,000. JOYN Advisors Inc. boosted its position in shares of Valley National Bancorp by 1,410.8% during the fourth quarter. JOYN Advisors Inc. now owns 3,928 shares of the financial services provider’s stock worth $35,000 after buying an additional 3,668 shares during the period. Baldwin Brothers Inc. MA acquired a new position in shares of Valley National Bancorp during the fourth quarter worth approximately $44,000. Bruderman Asset Management LLC acquired a new position in shares of Valley National Bancorp during the fourth quarter worth approximately $52,000. Finally, NumerixS Investment Technologies Inc raised its holdings in Valley National Bancorp by 742.9% during the fourth quarter. NumerixS Investment Technologies Inc now owns 5,900 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 5,200 shares in the last quarter. 55.94% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research raised Valley National Bancorp from a “sell” rating to a “hold” rating in a report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $12.95.
Shares of NYSE:VLY opened at $10.24 on Monday. Valley National Bancorp has a 12 month low of $8.42 and a 12 month high of $13.37.
Valley National Bancorp (NYSE:VLY) last announced its earnings results on Thursday, April 25th. The financial services provider reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The company had revenue of $326.32 million during the quarter, compared to analysts’ expectations of $253.23 million. During the same quarter last year, the firm posted $0.18 earnings per share.
ILLEGAL ACTIVITY NOTICE: This story was published by Ticker Report and is the sole property of of Ticker Report. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright law. The legal version of this story can be read at https://www.tickerreport.com/banking-finance/4347290/valley-national-bancorp-vly-shares-bought-by-rhumbline-advisers.html.
About Valley National Bancorp
Valley National Bancorp operates as the holding company for the Valley National Bank that provides commercial, retail, trust, and investment services. The company operates through Commercial Lending, Consumer Lending, and Investment Management segments. Its deposit products include non-interest bearing, savings, NOW, and money market deposits, as well as certificates of deposit.
Further Reading: Fibonacci Channel
Want to see what other hedge funds are holding VLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valley National Bancorp (NYSE:VLY).
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.