Creative Planning lessened its holdings in shares of Valley National Bancorp (NYSE:VLY) by 11.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,853 shares of the financial services provider’s stock after selling 1,383 shares during the quarter. Creative Planning’s holdings in Valley National Bancorp were worth $104,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. First Mercantile Trust Co. grew its stake in Valley National Bancorp by 13.3% during the 4th quarter. First Mercantile Trust Co. now owns 8,805 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 1,035 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Valley National Bancorp by 4.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 27,590 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 1,172 shares in the last quarter. Retirement Systems of Alabama grew its stake in Valley National Bancorp by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 429,079 shares of the financial services provider’s stock valued at $3,810,000 after acquiring an additional 1,438 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Valley National Bancorp by 1.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 154,439 shares of the financial services provider’s stock valued at $1,371,000 after acquiring an additional 1,508 shares in the last quarter. Finally, Private Advisor Group LLC grew its stake in Valley National Bancorp by 11.4% during the 4th quarter. Private Advisor Group LLC now owns 19,087 shares of the financial services provider’s stock valued at $170,000 after acquiring an additional 1,954 shares in the last quarter. 55.94% of the stock is currently owned by institutional investors.
In related news, Director Gerald Korde sold 3,100 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $10.19, for a total value of $31,589.00. Following the completion of the sale, the director now owns 659,111 shares of the company’s stock, valued at approximately $6,716,341.09. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 3.45% of the company’s stock.
Shares of NYSE VLY opened at $10.19 on Thursday. Valley National Bancorp has a 52 week low of $8.42 and a 52 week high of $13.37.
Valley National Bancorp (NYSE:VLY) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The company had revenue of $326.32 million during the quarter, compared to analyst estimates of $253.23 million. During the same period last year, the firm posted $0.18 earnings per share.
VLY has been the topic of several research analyst reports. Zacks Investment Research cut Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, February 9th. TheStreet raised Valley National Bancorp from a “c+” rating to a “b-” rating in a research note on Friday, February 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $12.95.
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Valley National Bancorp 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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