Denver Investment Advisors LLC Sells 661,052 Shares of Valley National Bancorp (VLY)
Denver Investment Advisors LLC decreased its position in Valley National Bancorp (NYSE:VLY) by 29.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,560,371 shares of the financial services provider’s stock after selling 661,052 shares during the period. Denver Investment Advisors LLC’s holdings in Valley National Bancorp were worth $18,428,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. MCF Advisors LLC bought a new stake in Valley National Bancorp during the second quarter worth $118,000. Capital Fund Management S.A. bought a new stake in Valley National Bancorp during the first quarter worth $138,000. Two Sigma Securities LLC bought a new stake in Valley National Bancorp during the first quarter worth $158,000. Creative Planning raised its stake in Valley National Bancorp by 8.1% in the second quarter. Creative Planning now owns 13,841 shares of the financial services provider’s stock worth $163,000 after buying an additional 1,041 shares in the last quarter. Finally, Parametrica Management Ltd bought a new stake in Valley National Bancorp during the second quarter worth $166,000. 62.47% of the stock is currently owned by institutional investors and hedge funds.
Shares of Valley National Bancorp (NYSE VLY) opened at 11.60 on Tuesday. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 16.57 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. The stock’s 50 day moving average price is $11.81 and its 200-day moving average price is $11.88.
Valley National Bancorp (NYSE:VLY) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.18 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.18. Valley National Bancorp had a net margin of 20.73% and a return on equity of 8.39%. The business had revenue of $195.79 million for the quarter, compared to the consensus estimate of $190.83 million. During the same quarter last year, the firm posted $0.15 EPS. On average, analysts predict that Valley National Bancorp will post $0.71 earnings per share for the current fiscal year.
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A number of analysts have recently weighed in on the company. Wedbush reaffirmed a “neutral” rating and set a $12.00 price objective on shares of Valley National Bancorp in a research report on Tuesday, June 27th. BidaskClub raised Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Zacks Investment Research raised Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Hovde Group raised Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.50 price objective on the stock in a research report on Monday, July 31st. Finally, Keefe, Bruyette & Woods raised Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 price objective on the stock in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $12.67.
In related news, Director Mary Guilfoile sold 39,495 shares of Valley National Bancorp stock in a transaction on Friday, August 4th. The shares were sold at an average price of $11.91, for a total transaction of $470,385.45. Following the sale, the director now owns 258,719 shares of the company’s stock, valued at approximately $3,081,343.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.07% of the company’s stock.
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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