Basswood Capital Management L.L.C. continued to hold its position in Valley National Bancorp (NYSE:VLY) during the fourth quarter, Holdings Channel reports. The fund owned 326,307 shares of the financial services provider’s stock at the end of the fourth quarter. Basswood Capital Management L.L.C. owned 0.12% of Valley National Bancorp worth $3,798,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its stake in Valley National Bancorp by 1.8% in the second quarter. Public Employees Retirement System of Ohio now owns 16,287 shares of the financial services provider’s stock valued at $149,000 after buying an additional 285 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Valley National Bancorp by 2.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,152,330 shares of the financial services provider’s stock valued at $10,510,000 after buying an additional 27,181 shares in the last quarter. Amalgamated Bank raised its stake in Valley National Bancorp by 17.0% in the second quarter. Amalgamated Bank now owns 30,397 shares of the financial services provider’s stock valued at $280,000 after buying an additional 4,406 shares in the last quarter. American Century Companies Inc. raised its stake in Valley National Bancorp by 13.0% in the second quarter. American Century Companies Inc. now owns 92,240 shares of the financial services provider’s stock valued at $841,000 after buying an additional 10,616 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Valley National Bancorp by 12.8% in the second quarter. Legal & General Group Plc now owns 194,729 shares of the financial services provider’s stock valued at $1,769,000 after buying an additional 22,079 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

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

Valley National Bancorp (NYSE:VLY) traded up 0.16% during mid-day trading on Thursday, hitting $12.44. 1,695,150 shares of the stock traded hands. The firm has a market capitalization of $3.28 billion, a P/E ratio of 19.75 and a beta of 0.90. Valley National Bancorp has a 1-year low of $8.49 and a 1-year high of $12.46. The company has a 50-day moving average of $11.79 and a 200 day moving average of $10.54.

Valley National Bancorp (NYSE:VLY) last issued its earnings results on Wednesday, January 25th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. Valley National Bancorp had a return on equity of 7.78% and a net margin of 19.32%. During the same period last year, the company earned $0.01 earnings per share. On average, equities research analysts anticipate that Valley National Bancorp will post $0.70 EPS for the current year.

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Several research firms have recently weighed in on VLY. Zacks Investment Research upgraded shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, January 28th. Sandler O’Neill lowered shares of Valley National Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, January 31st.

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.

5 Day Chart for NYSE:VLY

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