Creative Planning Has $163,000 Stake in Valley National Bancorp (NYSE:VLY)
Creative Planning increased its stake in Valley National Bancorp (NYSE:VLY) by 8.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,841 shares of the financial services provider’s stock after buying an additional 1,041 shares during the period. Creative Planning’s holdings in Valley National Bancorp were worth $163,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Capital Fund Management S.A. bought a new stake in Valley National Bancorp during the first quarter valued at $138,000. Two Sigma Securities LLC bought a new stake in Valley National Bancorp during the first quarter valued at $158,000. Gotham Asset Management LLC acquired a new position in shares of Valley National Bancorp during the first quarter worth approximately $172,000. Private Advisor Group LLC raised its position in shares of Valley National Bancorp by 5.1% in the first quarter. Private Advisor Group LLC now owns 15,831 shares of the financial services provider’s stock worth $183,000 after buying an additional 771 shares during the period. Finally, World Asset Management Inc raised its position in shares of Valley National Bancorp by 4.5% in the first quarter. World Asset Management Inc now owns 16,133 shares of the financial services provider’s stock worth $190,000 after buying an additional 699 shares during the period. Hedge funds and other institutional investors own 61.63% of the company’s stock.
Shares of Valley National Bancorp (NYSE VLY) traded down 2.05% on Thursday, hitting $11.45. The stock had a trading volume of 606,234 shares. The stock’s 50-day moving average price is $11.81 and its 200 day moving average price is $11.89. The company has a market cap of $3.02 billion, a PE ratio of 16.36 and a beta of 0.90. Valley National Bancorp has a 52 week low of $9.09 and a 52 week high of $12.82.
Valley National Bancorp (NYSE:VLY) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $195.79 million during the quarter, compared to the consensus estimate of $190.83 million. Valley National Bancorp had a net margin of 20.73% and a return on equity of 8.39%. During the same quarter in the prior year, the firm earned $0.15 EPS. On average, analysts predict that Valley National Bancorp will post $0.71 EPS for the current year.
A number of brokerages have recently commented on VLY. Zacks Investment Research lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Morgan Stanley reiterated an “equal weight” rating and set a $11.50 price target (up from $11.00) on shares of Valley National Bancorp in a report on Friday, July 7th. BidaskClub lowered Valley National Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Piper Jaffray Companies reiterated a “neutral” rating and set a $13.00 price target (up from $12.00) on shares of Valley National Bancorp in a report on Wednesday. Finally, Hovde Group upgraded Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.50 price target for the company 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 given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $12.67.
In other news, Director Mary Guilfoile sold 5,140 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $11.92, for a total transaction of $61,268.80. Following the sale, the director now directly owns 258,719 shares in the company, valued at approximately $3,083,930.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.07% of the stock is currently owned by corporate insiders.
Valley National Bancorp Company Profile
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.
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 Analyst Ratings Network's FREE daily email newsletter.