Nuveen Asset Management LLC trimmed its position in Valley National Bancorp (NASDAQ:VLY – Get Rating) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,785,771 shares of the company’s stock after selling 56,762 shares during the quarter. Nuveen Asset Management LLC owned about 0.35% of Valley National Bancorp worth $19,286,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale acquired a new position in Valley National Bancorp in the 2nd quarter valued at about $104,000. State of New Jersey Common Pension Fund D raised its stake in shares of Valley National Bancorp by 8.6% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 194,163 shares of the company’s stock valued at $2,021,000 after acquiring an additional 15,310 shares during the period. Cozad Asset Management Inc. purchased a new stake in shares of Valley National Bancorp in the 3rd quarter valued at approximately $1,532,000. Freestone Capital Holdings LLC purchased a new stake in shares of Valley National Bancorp in the 3rd quarter valued at approximately $344,000. Finally, AlphaCrest Capital Management LLC purchased a new stake in shares of Valley National Bancorp in the 2nd quarter valued at approximately $741,000. 54.77% of the stock is currently owned by institutional investors and hedge funds.
Valley National Bancorp Price Performance
Shares of VLY opened at $11.40 on Friday. Valley National Bancorp has a fifty-two week low of $10.01 and a fifty-two week high of $13.92. The firm’s 50 day moving average price is $11.62 and its 200 day moving average price is $11.68. The company has a market cap of $5.89 billion, a P/E ratio of 10.09 and a beta of 1.10. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26.
Wall Street Analyst Weigh In
VLY has been the topic of a number of research analyst reports. Raymond James reduced their price target on shares of Valley National Bancorp from $14.00 to $13.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 27th. Morgan Stanley reduced their price target on shares of Valley National Bancorp from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, January 27th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Valley National Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 13th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Valley National Bancorp has a consensus rating of “Moderate Buy” and an average price target of $13.17.
Valley National Bancorp Company Profile
Valley National Bancorp is a bank holding company, which engages in the provision of retail and commercial banking services. It operates through the following segments: Consumer Lending, Commercial Lending, Investment Management, and Corporate and Other Adjustments. The Consumer Lending segment consists of residential mortgage loans, automobile loans and home equity loans, as well as wealth management and insurance services.
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