SeaCrest Wealth Management LLC purchased a new position in shares of Valley National Bancorp (NYSE:VLY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 26,441 shares of the financial services provider’s stock, valued at approximately $297,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Valley National Bancorp by 2.1% during the second quarter. Vanguard Group Inc. now owns 21,880,605 shares of the financial services provider’s stock worth $258,410,000 after buying an additional 448,524 shares in the last quarter. Chicago Equity Partners LLC lifted its holdings in shares of Valley National Bancorp by 22.0% during the third quarter. Chicago Equity Partners LLC now owns 637,215 shares of the financial services provider’s stock valued at $7,678,000 after acquiring an additional 114,780 shares during the period. First Republic Investment Management Inc. lifted its holdings in shares of Valley National Bancorp by 87.3% during the third quarter. First Republic Investment Management Inc. now owns 28,213 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 13,149 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Valley National Bancorp by 61.8% during the third quarter. Nordea Investment Management AB now owns 594,300 shares of the financial services provider’s stock valued at $7,161,000 after acquiring an additional 227,100 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Valley National Bancorp by 185.6% during the third quarter. Principal Financial Group Inc. now owns 3,230,525 shares of the financial services provider’s stock valued at $38,928,000 after acquiring an additional 2,099,452 shares during the period. Hedge funds and other institutional investors own 63.85% of the company’s stock.

Valley National Bancorp (VLY) opened at $12.08 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.01. Valley National Bancorp has a twelve month low of $10.61 and a twelve month high of $12.82. The stock has a market capitalization of $3,190.00, a PE ratio of 20.83 and a beta of 0.96.

Valley National Bancorp (NYSE:VLY) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. Valley National Bancorp had a return on equity of 8.20% and a net margin of 17.08%. The business had revenue of $199.57 million during the quarter, compared to analysts’ expectations of $194.26 million. During the same period in the previous year, the business posted $0.19 earnings per share. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. research analysts predict that Valley National Bancorp will post 0.88 EPS for the current fiscal year.

In other Valley National Bancorp news, Director Peter J. Baum purchased 3,433 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was acquired at an average cost of $12.70 per share, with a total value of $43,599.10. Following the completion of the acquisition, the director now directly owns 41,086 shares of the company’s stock, valued at approximately $521,792.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.07% of the company’s stock.

VLY has been the subject of a number of analyst reports. Zacks Investment Research cut Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, October 28th. Morgan Stanley lifted their price objective on Valley National Bancorp from $13.00 to $13.50 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Piper Jaffray Companies reissued a “buy” rating and set a $14.00 price objective on shares of Valley National Bancorp in a report on Monday, January 29th. Hovde Group reissued a “buy” rating and set a $14.00 price objective on shares of Valley National Bancorp in a report on Wednesday, January 31st. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $15.00 price objective on shares of Valley National Bancorp in a report on Friday, December 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Valley National Bancorp presently has a consensus rating of “Buy” and an average target price of $13.64.

ILLEGAL ACTIVITY WARNING: This news story was first reported by Watch List News and is owned by of Watch List News. If you are reading this news story on another site, it was illegally stolen and reposted in violation of US and international trademark & copyright law. The correct version of this news story can be accessed at https://www.watchlistnews.com/seacrest-wealth-management-llc-purchases-new-position-in-valley-national-bancorp-vly/1857115.html.

Valley National Bancorp 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).

Institutional Ownership by Quarter 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.