Commonwealth Bank of Australia Invests $267,000 in Valley National Bancorp (VLY) Stock

Commonwealth Bank of Australia bought a new stake in Valley National Bancorp (NYSE:VLY) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 23,800 shares of the financial services provider’s stock, valued at approximately $267,000.

A number of other large investors have also bought and sold shares of the business. ING Groep NV acquired a new position in shares of Valley National Bancorp during the third quarter worth about $118,000. Oliver Luxxe Assets LLC acquired a new position in shares of Valley National Bancorp during the third quarter worth about $138,000. Natixis acquired a new position in shares of Valley National Bancorp during the second quarter worth about $140,000. GSA Capital Partners LLP acquired a new position in shares of Valley National Bancorp during the second quarter worth about $155,000. Finally, HRT Financial LLC acquired a new position in shares of Valley National Bancorp during the second quarter worth about $194,000. 55.94% of the stock is owned by hedge funds and other institutional investors.

VLY opened at $10.82 on Friday. Valley National Bancorp has a 52-week low of $9.32 and a 52-week high of $13.38.

Valley National Bancorp (NYSE:VLY) last released its earnings results on Thursday, October 25th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). The company had revenue of $245.84 million during the quarter, compared to analyst estimates of $252.55 million.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 14th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.44 annualized dividend and a yield of 4.07%.

Several research firms have recently weighed in on VLY. ValuEngine raised Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Zacks Investment Research raised Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, September 13th. Finally, TheStreet cut Valley National Bancorp from a “b” rating to a “c+” rating in a research report on Friday, November 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Valley National Bancorp has a consensus rating of “Hold” and a consensus price target of $13.97.

In related news, Director Gerald Korde sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 13th. The stock was sold at an average price of $10.03, for a total transaction of $30,090.00. Following the sale, the director now owns 659,111 shares in the company, valued at $6,610,883.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.45% of the company’s stock.

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Valley National Bancorp Company Profile

Valley National Bancorp operates as the holding company for the Valley National Bank that provides commercial, retail, trust, and investment services. The company operates through Commercial Lending, Consumer Lending, and Investment Management segments. Its deposit products include non-interest bearing, savings, NOW, and money market deposits, as well as certificates of deposit.

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

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