Valley National Bancorp (VLY) Shares Sold by American Century Companies Inc.

American Century Companies Inc. lowered its holdings in shares of Valley National Bancorp (NYSE:VLY) by 9.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,952,188 shares of the financial services provider’s stock after selling 494,562 shares during the period. American Century Companies Inc.’s holdings in Valley National Bancorp were worth $55,564,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of VLY. Advisor Group Inc. grew its holdings in Valley National Bancorp by 26.2% during the second quarter. Advisor Group Inc. now owns 9,795 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 2,031 shares during the period. CIBC Asset Management Inc bought a new position in Valley National Bancorp during the third quarter worth about $126,000. Csenge Advisory Group bought a new position in Valley National Bancorp during the third quarter worth about $145,000. Eqis Capital Management Inc. bought a new position in Valley National Bancorp during the third quarter worth about $151,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Valley National Bancorp during the second quarter worth about $168,000. Institutional investors and hedge funds own 63.85% of the company’s stock.

In other news, Director Peter J. Baum acquired 3,433 shares of Valley National Bancorp stock in a transaction dated Monday, January 29th. The stock was bought at an average price of $12.70 per share, for a total transaction of $43,599.10. Following the completion of the acquisition, the director now directly owns 41,086 shares in the company, valued at approximately $521,792.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.07% of the company’s stock.

VLY has been the subject of a number of research analyst reports. Hovde Group reiterated a “buy” rating and set a $14.00 price target on shares of Valley National Bancorp in a report on Wednesday, January 31st. Piper Jaffray Companies restated a “buy” rating and set a $14.00 price objective on shares of Valley National Bancorp in a report on Monday, January 29th. Zacks Investment Research upgraded Valley National Bancorp from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Saturday, January 13th. Keefe, Bruyette & Woods restated a “buy” rating and set a $15.00 price objective on shares of Valley National Bancorp in a report on Friday, December 22nd. Finally, Morgan Stanley boosted their price objective on Valley National Bancorp from $13.00 to $13.50 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $13.64.

Shares of Valley National Bancorp (VLY) opened at $12.08 on Monday. Valley National Bancorp has a 1-year low of $10.61 and a 1-year high of $12.82. The stock has a market capitalization of $3,980.00, a P/E ratio of 20.83 and a beta of 0.96. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.01.

Valley National Bancorp (NYSE:VLY) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $199.57 million during the quarter, compared to analysts’ expectations of $194.26 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis. equities research analysts expect that Valley National Bancorp will post 0.88 EPS for the current year.

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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.

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

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