Gradient Investments LLC Has $7.21 Million Stake in Valley National Bancorp (VLY)

Gradient Investments LLC lifted its stake in shares of Valley National Bancorp (NYSE:VLY) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 642,660 shares of the financial services provider’s stock after purchasing an additional 49,486 shares during the period. Gradient Investments LLC owned 0.24% of Valley National Bancorp worth $7,211,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Ameritas Investment Partners Inc. raised its stake in shares of Valley National Bancorp by 1.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 100,459 shares of the financial services provider’s stock worth $1,186,000 after purchasing an additional 1,284 shares in the last quarter. Advisor Group Inc. raised its stake in shares of Valley National Bancorp by 26.2% during the 2nd 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 in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Valley National Bancorp by 3.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 64,548 shares of the financial services provider’s stock worth $762,000 after purchasing an additional 2,320 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Valley National Bancorp by 6.5% during the 4th quarter. Victory Capital Management Inc. now owns 78,270 shares of the financial services provider’s stock worth $878,000 after purchasing an additional 4,748 shares in the last quarter. Finally, Brookstone Capital Management raised its stake in shares of Valley National Bancorp by 20.2% during the 3rd quarter. Brookstone Capital Management now owns 28,697 shares of the financial services provider’s stock worth $346,000 after purchasing an additional 4,819 shares in the last quarter. Institutional investors own 63.49% of the company’s stock.

In other Valley National Bancorp news, Director Peter J. Baum purchased 3,433 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average price of $12.70 per share, for a total transaction of $43,599.10. Following the purchase, the director now owns 41,086 shares in the company, valued at $521,792.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.07% of the stock is currently owned by corporate insiders.

Shares of Valley National Bancorp (NYSE VLY) opened at $12.08 on Monday. Valley National Bancorp has a 12 month low of $10.61 and a 12 month high of $12.82. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $3,193.59, a price-to-earnings ratio of 17.26 and a beta of 0.96.

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

A number of brokerages have recently issued reports on VLY. Piper Jaffray Companies upgraded Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $13.50 price objective on the stock in a research note on Friday, January 5th. Zacks Investment Research upgraded Valley National Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. Royal Bank of Canada began coverage on Valley National Bancorp in a research note on Thursday, December 21st. They set an “outperform” rating and a $14.00 price objective on the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $15.00 price objective on shares of Valley National Bancorp in a research note on Friday, December 22nd. Finally, Hovde Group reiterated a “buy” rating and set a $14.00 price objective on shares of Valley National Bancorp in a research note on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $13.64.

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

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