Comerica Bank lessened its stake in shares of Valley National Bancorp (NYSE:VLY) by 0.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 188,828 shares of the financial services provider’s stock after selling 1,121 shares during the period. Comerica Bank owned 0.06% of Valley National Bancorp worth $2,196,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the business. Advisory Services Network LLC boosted its stake in shares of Valley National Bancorp by 84.6% in the second quarter. Advisory Services Network LLC now owns 2,622 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 1,202 shares during the period. Oakworth Capital Inc. bought a new position in shares of Valley National Bancorp in the second quarter worth about $48,000. AGF Investments LLC boosted its stake in shares of Valley National Bancorp by 619.6% in the second quarter. AGF Investments LLC now owns 5,728 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 4,932 shares during the period. Prestige Wealth Management Group LLC bought a new position in shares of Valley National Bancorp in the second quarter worth about $69,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Valley National Bancorp in the third quarter worth about $75,000. 55.94% of the stock is owned by institutional investors and hedge funds.
In related news, Director Gerald H. Lipkin sold 16,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $11.22, for a total transaction of $179,520.00. Following the completion of the transaction, the director now directly owns 192,598 shares of the company’s stock, valued at $2,160,949.56. The sale was disclosed in a filing with the SEC, which is available through this link. 3.45% of the stock is currently owned by corporate insiders.
Shares of Valley National Bancorp stock opened at $11.93 on Thursday. The stock has a 50 day moving average of $11.36 and a 200 day moving average of $10.72. Valley National Bancorp has a 12 month low of $8.42 and a 12 month high of $12.14.
Valley National Bancorp (NYSE:VLY) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $261.78 million for the quarter, compared to the consensus estimate of $251.00 million. During the same period in the previous year, the company posted $0.21 earnings per share.
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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