Moors & Cabot Inc. cut its position in shares of Valley National Bancorp (NYSE:VLY) by 7.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,741 shares of the financial services provider’s stock after selling 1,000 shares during the period. Moors & Cabot Inc.’s holdings in Valley National Bancorp were worth $137,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Valley National Bancorp by 11.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 14,333,186 shares of the financial services provider’s stock valued at $127,279,000 after purchasing an additional 1,515,954 shares in the last quarter. Two Sigma Investments LP acquired a new position in Valley National Bancorp during the fourth quarter worth $1,109,000. Two Sigma Advisers LP acquired a new position in Valley National Bancorp during the fourth quarter worth $232,000. Bank of America Corp DE increased its position in Valley National Bancorp by 0.7% during the fourth quarter. Bank of America Corp DE now owns 1,341,251 shares of the financial services provider’s stock worth $11,910,000 after buying an additional 8,775 shares during the last quarter. Finally, Suntrust Banks Inc. grew its position in shares of Valley National Bancorp by 29.2% in the fourth quarter. Suntrust Banks Inc. now owns 26,471 shares of the financial services provider’s stock valued at $235,000 after purchasing an additional 5,982 shares during the last quarter. Institutional investors own 55.94% of the company’s stock.
Shares of NYSE:VLY opened at $10.32 on Friday. The stock’s 50-day moving average is $10.73 and its 200-day moving average is $10.37. Valley National Bancorp has a 52-week low of $8.42 and a 52-week high of $12.25.
Valley National Bancorp (NYSE:VLY) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.23 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. The company had revenue of $247.84 million during the quarter, compared to the consensus estimate of $256.70 million. During the same quarter in the previous year, the business posted $0.18 EPS.
Separately, Zacks Investment Research raised Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th.
About Valley National Bancorp
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.
Featured Story: What are gap-down stocks?
Receive News & Ratings for Valley National Bancorp Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Valley National Bancorp and related companies with MarketBeat.com’s FREE daily email newsletter.