Mercer Capital Advisers Inc. Purchases 1,381 Shares of Valley National Bancorp (NYSE:VLY)

Mercer Capital Advisers Inc. lifted its position in shares of Valley National Bancorp (NYSE:VLY) by 11.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,646 shares of the financial services provider’s stock after purchasing an additional 1,381 shares during the period. Mercer Capital Advisers Inc.’s holdings in Valley National Bancorp were worth $147,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund raised its position in Valley National Bancorp by 1.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 134,342 shares of the financial services provider’s stock worth $1,448,000 after acquiring an additional 1,898 shares during the period. Mason Street Advisors LLC raised its position in Valley National Bancorp by 1.7% in the first quarter. Mason Street Advisors LLC now owns 176,540 shares of the financial services provider’s stock worth $1,691,000 after acquiring an additional 2,904 shares during the period. Truvestments Capital LLC bought a new stake in Valley National Bancorp in the first quarter worth about $29,000. Retirement Systems of Alabama raised its position in Valley National Bancorp by 0.7% in the first quarter. Retirement Systems of Alabama now owns 432,160 shares of the financial services provider’s stock worth $4,140,000 after acquiring an additional 3,081 shares during the period. Finally, Nordea Investment Management AB raised its position in Valley National Bancorp by 0.9% in the fourth quarter. Nordea Investment Management AB now owns 363,300 shares of the financial services provider’s stock worth $3,224,000 after acquiring an additional 3,200 shares during the period. 55.94% of the stock is currently owned by institutional investors.

NYSE VLY opened at $10.63 on Friday. The company has a 50 day simple moving average of $10.69. Valley National Bancorp has a 12-month low of $8.42 and a 12-month high of $12.25.

Valley National Bancorp (NYSE:VLY) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. The business had revenue of $247.84 million during the quarter, compared to the consensus estimate of $256.70 million. During the same period last year, the firm earned $0.18 EPS.

Separately, Zacks Investment Research raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 7th.

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.

Further Reading: Put Option Volume

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

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