Qube Research & Technologies Ltd Takes Position in Valley National Bancorp (NYSE:VLY)

Qube Research & Technologies Ltd bought a new stake in shares of Valley National Bancorp (NYSE:VLY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,685 shares of the financial services provider’s stock, valued at approximately $169,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in Valley National Bancorp by 11.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,333,186 shares of the financial services provider’s stock worth $127,279,000 after purchasing an additional 1,515,954 shares in the last quarter. BlackRock Inc. raised its position in shares of Valley National Bancorp by 2.8% during the 1st quarter. BlackRock Inc. now owns 45,624,931 shares of the financial services provider’s stock valued at $437,087,000 after buying an additional 1,224,273 shares in the last quarter. Kennedy Capital Management Inc. purchased a new stake in shares of Valley National Bancorp during the 1st quarter valued at $4,024,000. Foundry Partners LLC purchased a new stake in shares of Valley National Bancorp during the 1st quarter valued at $3,735,000. Finally, ProVise Management Group LLC raised its position in shares of Valley National Bancorp by 3,038.5% during the 1st quarter. ProVise Management Group LLC now owns 332,616 shares of the financial services provider’s stock valued at $3,186,000 after buying an additional 322,018 shares in the last quarter. 55.94% of the stock is owned by hedge funds and other institutional investors.

VLY stock opened at $10.44 on Thursday. Valley National Bancorp has a 52 week low of $8.42 and a 52 week high of $12.25. The firm’s fifty day moving average is $10.69 and its 200 day moving average is $10.38.

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

Separately, Zacks Investment Research upgraded shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday.

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.

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

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