Migdal Insurance & Financial Holdings Ltd. Invests $272,000 in Valley National Bancorp (VLY)

Migdal Insurance & Financial Holdings Ltd. bought a new stake in Valley National Bancorp (NYSE:VLY) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,866 shares of the financial services provider’s stock, valued at approximately $272,000.

Several other institutional investors have also made changes to their positions in VLY. JPMorgan Chase & Co. increased its holdings in shares of Valley National Bancorp by 1.6% in the 1st quarter. JPMorgan Chase & Co. now owns 129,300 shares of the financial services provider’s stock valued at $1,526,000 after acquiring an additional 1,997 shares during the period. OppenheimerFunds Inc. increased its holdings in shares of Valley National Bancorp by 87.6% in the 1st quarter. OppenheimerFunds Inc. now owns 22,475 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 10,492 shares during the period. Thrivent Financial For Lutherans increased its holdings in shares of Valley National Bancorp by 13.0% in the 1st quarter. Thrivent Financial For Lutherans now owns 49,384 shares of the financial services provider’s stock valued at $583,000 after acquiring an additional 5,670 shares during the period. Bank of America Corp DE increased its holdings in shares of Valley National Bancorp by 52.9% in the 1st quarter. Bank of America Corp DE now owns 1,171,151 shares of the financial services provider’s stock valued at $13,820,000 after acquiring an additional 405,122 shares during the period. Finally, Gotham Asset Management LLC acquired a new position in shares of Valley National Bancorp in the 1st quarter valued at $172,000. 63.50% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently commented on the stock. BidaskClub cut shares of Valley National Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Zacks Investment Research cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, October 28th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $13.00 price objective on shares of Valley National Bancorp in a research note on Friday, September 29th. Hovde Group raised shares of Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.50 price objective on the stock in a research note on Monday, July 31st. Finally, Piper Jaffray Companies reissued a “neutral” rating and issued a $13.00 price objective (up from $12.00) on shares of Valley National Bancorp in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $12.67.

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Shares of Valley National Bancorp (NYSE VLY) traded up $0.03 on Monday, reaching $11.03. 1,957,300 shares of the company’s stock traded hands, compared to its average volume of 1,872,092. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.97. The firm has a market cap of $2,916.00, a PE ratio of 15.53 and a beta of 0.89. Valley National Bancorp has a 12 month low of $10.61 and a 12 month high of $12.82.

Valley National Bancorp (NYSE:VLY) last announced its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $193.00 million during the quarter, compared to analyst estimates of $195.03 million. Valley National Bancorp had a net margin of 19.91% and a return on equity of 8.27%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 earnings per share. sell-side analysts anticipate 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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Institutional Ownership by Quarter for Valley National Bancorp (NYSE:VLY)

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