Csenge Advisory Group purchased a new stake in shares of Valley National Bancorp (NYSE:VLY) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 12,065 shares of the financial services provider’s stock, valued at approximately $145,000.
Several other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Valley National Bancorp by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,128 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 817 shares in the last quarter. Advisor Group Inc. increased its position in Valley National Bancorp by 26.2% in the 2nd quarter. Advisor Group Inc. now owns 9,795 shares of the financial services provider’s stock worth $115,000 after buying an additional 2,031 shares during the period. MCF Advisors LLC bought a new stake in shares of Valley National Bancorp during the second quarter valued at approximately $118,000. HRT Financial LLC bought a new stake in shares of Valley National Bancorp during the second quarter valued at approximately $120,000. Finally, Ffcm LLC increased its position in shares of Valley National Bancorp by 222.4% during the second quarter. Ffcm LLC now owns 10,262 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 7,079 shares during the period. Institutional investors and hedge funds own 62.58% of the company’s stock.
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Several analysts recently commented on VLY shares. BidaskClub lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Keefe, Bruyette & Woods raised Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 price target on the stock in a research note on Thursday, July 27th. Zacks Investment Research lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, October 28th. Hovde Group upgraded Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.50 price objective for the company in a report on Monday, July 31st. Finally, Piper Jaffray Companies reiterated a “neutral” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Valley National Bancorp in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Valley National Bancorp has a consensus rating of “Hold” and an average price target of $12.67.
Valley National Bancorp (NYSE:VLY) opened at $11.65 on Monday. Valley National Bancorp has a 52-week low of $9.61 and a 52-week high of $12.82. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $3,077.90, a P/E ratio of 16.41 and a beta of 0.89.
Valley National Bancorp (NYSE:VLY) last released its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). Valley National Bancorp had a net margin of 19.91% and a return on equity of 8.27%. The business had revenue of $193.00 million during the quarter, compared to analyst estimates of $195.03 million. During the same period in the previous year, the business earned $0.16 earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis. equities analysts predict that Valley National Bancorp will post 0.69 EPS for the current fiscal year.
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.
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