Swiss National Bank Buys 42,800 Shares of Valley National Bancorp (NYSE:VLY)

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Swiss National Bank raised its stake in Valley National Bancorp (NYSE:VLY) by 7.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 616,700 shares of the financial services provider’s stock after buying an additional 42,800 shares during the period. Swiss National Bank owned about 0.19% of Valley National Bancorp worth $6,654,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of VLY. Advisory Services Network LLC boosted its stake in shares of Valley National Bancorp by 84.6% in the 2nd quarter. Advisory Services Network LLC now owns 2,622 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 1,202 shares in the last quarter. AGF Investments LLC boosted its position in Valley National Bancorp by 619.6% during the 2nd quarter. AGF Investments LLC now owns 5,728 shares of the financial services provider’s stock valued at $62,000 after buying an additional 4,932 shares during the period. Mercer Capital Advisers Inc. boosted its position in Valley National Bancorp by 11.3% during the 2nd quarter. Mercer Capital Advisers Inc. now owns 13,646 shares of the financial services provider’s stock valued at $147,000 after buying an additional 1,381 shares during the period. Piedmont Investment Advisors Inc. boosted its position in Valley National Bancorp by 29.8% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 18,656 shares of the financial services provider’s stock valued at $179,000 after buying an additional 4,279 shares during the period. Finally, NumerixS Investment Technologies Inc boosted its position in Valley National Bancorp by 242.4% during the 1st quarter. NumerixS Investment Technologies Inc now owns 20,200 shares of the financial services provider’s stock valued at $196,000 after buying an additional 14,300 shares during the period. 55.94% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:VLY opened at $10.14 on Wednesday. The company has a 50-day moving average price of $10.62 and a 200-day moving average price of $10.38. Valley National Bancorp has a 12 month low of $8.42 and a 12 month high of $12.25.

Valley National Bancorp (NYSE:VLY) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.23 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. The company had revenue of $247.84 million during the quarter, compared to analysts’ expectations of $256.70 million. During the same period in the prior year, the business posted $0.18 earnings per share.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.11 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.44 annualized dividend and a dividend yield of 4.34%.

Separately, Zacks Investment Research raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 20th.

Valley National Bancorp Profile

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: What does a dividend yield signify to investors?

Institutional Ownership by Quarter for Valley National Bancorp (NYSE:VLY)

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