Peregrine Capital Management LLC Has $5.36 Million Stock Position in Valley National Bancorp (NYSE:VLY)

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Peregrine Capital Management LLC lifted its stake in shares of Valley National Bancorp (NYSE:VLY) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 685,023 shares of the financial services provider’s stock after buying an additional 9,893 shares during the period. Peregrine Capital Management LLC’s holdings in Valley National Bancorp were worth $5,357,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Macquarie Group Ltd. grew its stake in shares of Valley National Bancorp by 12.6% in the fourth quarter. Macquarie Group Ltd. now owns 13,066,654 shares of the financial services provider’s stock worth $149,613,000 after purchasing an additional 1,460,993 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Valley National Bancorp by 9.7% in the 1st quarter. Geode Capital Management LLC now owns 5,973,503 shares of the financial services provider’s stock worth $43,666,000 after acquiring an additional 529,555 shares during the last quarter. Norges Bank acquired a new stake in shares of Valley National Bancorp in the 4th quarter worth about $54,510,000. Deprince Race & Zollo Inc. raised its holdings in shares of Valley National Bancorp by 83.7% in the 1st quarter. Deprince Race & Zollo Inc. now owns 2,212,878 shares of the financial services provider’s stock worth $16,176,000 after acquiring an additional 1,008,371 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Valley National Bancorp by 2.2% in the 1st quarter. Nuveen Asset Management LLC now owns 1,748,868 shares of the financial services provider’s stock worth $12,784,000 after acquiring an additional 37,669 shares during the last quarter. Institutional investors own 55.94% of the company’s stock.

VLY opened at $7.47 on Friday. The company has a 50 day moving average of $7.50 and a 200 day moving average of $8.43. Valley National Bancorp has a 12 month low of $6.00 and a 12 month high of $12.14.

Valley National Bancorp (NYSE:VLY) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The business had revenue of $327.39 million during the quarter, compared to the consensus estimate of $306.74 million. During the same period last year, the business posted $0.23 earnings per share.

In other news, Director Eric P. Edelstein purchased 30,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average cost of $7.36 per share, with a total value of $220,800.00. Following the acquisition, the director now directly owns 80,395 shares in the company, valued at $591,707.20. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Joseph Chillura sold 45,972 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $9.34, for a total transaction of $429,378.48. Following the completion of the transaction, the executive vice president now directly owns 691,256 shares of the company’s stock, valued at $6,456,331.04. The disclosure for this sale can be found here. 3.45% of the stock is currently owned by company insiders.

A number of research firms have recently weighed in on VLY. Zacks Investment Research downgraded shares of Valley National Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, July 16th. Citigroup downgraded shares of Valley National Bancorp from a “neutral” rating to a “sell” rating and set a $7.00 target price for the company. in a research report on Wednesday, June 17th. Royal Bank of Canada reissued a “buy” rating and set a $10.00 target price on shares of Valley National Bancorp in a research report on Monday, July 20th. Finally, Morgan Stanley increased their target price on shares of Valley National Bancorp from $9.75 to $10.50 and gave the company an “equal weight” rating in a research report on Monday, June 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $10.10.

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

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