Raymond James Financial Services Advisors Inc. Sells 25,520 Shares of Valley National Bancorp (VLY)
Raymond James Financial Services Advisors Inc. reduced its position in Valley National Bancorp (NYSE:VLY) by 39.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,028 shares of the financial services provider’s stock after selling 25,520 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Valley National Bancorp were worth $470,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Valley National Bancorp by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,128 shares of the financial services provider’s stock valued at $108,000 after buying an additional 817 shares during the last quarter. Advisor Group Inc. raised its position in Valley National Bancorp by 26.2% in the 2nd quarter. Advisor Group Inc. now owns 9,795 shares of the financial services provider’s stock valued at $115,000 after buying an additional 2,031 shares during the last quarter. HRT Financial LLC purchased a new stake in Valley National Bancorp in the 2nd quarter valued at $120,000. Ffcm LLC raised its position in Valley National Bancorp by 222.4% in the 2nd quarter. Ffcm LLC now owns 10,262 shares of the financial services provider’s stock valued at $124,000 after buying an additional 7,079 shares during the last quarter. Finally, Eqis Capital Management Inc. purchased a new stake in Valley National Bancorp in the 3rd quarter valued at $151,000. Institutional investors own 63.90% of the company’s stock.
A number of equities research analysts recently commented on the company. Zacks Investment Research lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $13.00 target price on shares of Valley National Bancorp in a research report on Friday, September 29th. BidaskClub lowered Valley National Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and set a $13.00 target price (up from $12.00) on shares of Valley National Bancorp in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.67.
Shares of Valley National Bancorp (NYSE:VLY) traded down $0.07 during trading on Thursday, hitting $11.60. The stock had a trading volume of 1,257,400 shares, compared to its average volume of 1,852,302. Valley National Bancorp has a 1 year low of $10.61 and a 1 year high of $12.82. The stock has a market cap of $3,070.00, a price-to-earnings ratio of 16.44 and a beta of 0.89. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97.
Valley National Bancorp (NYSE:VLY) last announced its earnings results 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). Valley National Bancorp had a net margin of 19.91% and a return on equity of 8.27%. The business had revenue of $193.00 million for the quarter, compared to analysts’ expectations of $195.03 million. During the same period in the prior year, the business earned $0.16 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. equities analysts forecast that Valley National Bancorp will post 0.7 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Friday, December 22nd will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Thursday, December 21st. Valley National Bancorp’s dividend payout ratio is presently 64.71%.
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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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