New York Community Bank Exits Position in Valley National Bancorp (VLY)

Valley National Bancorp (VLY) : New York Community Bank has sold out all of its stake in Valley National Bancorp during the most recent quarter, according to the disclosure filed by the company on Apr 25, 2016 with the SEC. The investment management company has sold out 105,000 shares of Valley National Bancorp which is valued at $993,300.

Valley National Bancorp opened for trading at $9.47 and hit $9.53 on the upside on Monday, eventually ending the session at $9.51, with a gain of 0.53% or 0.05 points. The heightened volatility saw the trading volume jump to 20,47,623 shares. Company has a market cap of $2,417 M.

Other Hedge Funds, Including , Louisiana State Employees Retirement System boosted its stake in VLY in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 62,000 shares of Valley National Bancorp which is valued at $586,520. Valley National Bancorp makes up approx 0.03% of Louisiana State Employees Retirement System’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in VLY in the latest quarter, The investment management firm added 2,890 additional shares and now holds a total of 75,746 shares of Valley National Bancorp which is valued at $746,098. Valley National Bancorp makes up approx 0.02% of Oregon Public Employees Retirement Fund’s portfolio. Churchill Management Corp sold out all of its stake in VLY during the most recent quarter. The investment firm sold 1,117,618 shares of VLY which is valued $11,008,537.

On the company’s financial health, Valley National Bancorp reported $0.14 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus of $0.15.Analysts expectations of $ 179.68.During the same quarter in the previous year, the company posted $0.13 EPS.

Many Wall Street Analysts have commented on Valley National Bancorp. Valley National Bancorp was Upgraded by Piper Jaffray to ” Overweight” on Feb 3, 2016. Valley National Bancorp was Upgraded by Sandler O’Neill to ” Buy” on Jan 29, 2016. Shares were Reiterated by RBC Capital Mkts on Jan 28, 2016 to “Sector Perform” and Lowered the Price Target to $ 9 from a previous price target of $11 .

Valley National Bancorp (Valley) is a bank holding company. The Company operates through its subsidiary Valley National Bank (Bank). The Bank operates in four segments: commercial lending consumer lending investment management and corporate and other adjustments. Its Wealth Management Division is consisted of trust asset management and insurance services. It provides a range of commercial retail insurance and wealth management financial services products. It provides various banking services including automated teller machines telephone and Internet banking remote deposit capture and deposit facilities. It also provides international banking services to customers including letters of credit documentary letters of credit and related products. It operates approximately 211 branch locations serving over 24 counties throughout northern and central New Jersey the New York City boroughs of Manhattan Brooklyn Queens and Long Island and Florida.

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