Today’s Price Action: Time to Buy Valley National Bancorp After Today’s Huge Increase?

Today's Price Action: Time to Buy Valley National Bancorp After Today's Huge Increase?

The stock of Valley National Bancorp (NYSE:VLY) is a huge mover today! About 1.04M shares traded hands. Valley National Bancorp (NYSE:VLY) has risen 13.71% since April 11, 2016 and is uptrending. It has outperformed by 7.56% the S&P500.
The move comes after 5 months positive chart setup for the $2.86B company. It was reported on Nov, 11 by Barchart.com. We have $15.92 PT which if reached, will make NYSE:VLY worth $1.34B more.

Valley National Bancorp (NYSE:VLY) Ratings Coverage

Out of 3 analysts covering Valley National Bancorp (NYSE:VLY), 1 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 33% are positive. Valley National Bancorp has been the topic of 5 analyst reports since August 19, 2015 according to StockzIntelligence Inc. The firm has “Sell” rating by Zacks given on Wednesday, August 19. Guggenheim upgraded the shares of VLY in a report on Tuesday, August 25 to “Sell” rating. The firm earned “Buy” rating on Friday, January 29 by Sandler O’Neill. On Thursday, January 28 the stock rating was maintained by RBC Capital Markets with “Sector Perform”.

According to Zacks Investment Research, “Valley National Bancorp is a bank holding company whose principal subsidiary is Valley National Bank. Valley National Bank provides a full range of commercial and retail banking services through branch offices located in northern New Jersey. These services include the following: the acceptance of demand, savings and time deposits; extension of consumer, real estate, Small Business Administration and other commercial credits; title insurance; investment services; and full personal and corporate trust, as well as pension and fiduciary services.”

Insitutional Activity: The institutional sentiment increased to 1.32 in Q2 2016. Its up 0.18, from 1.14 in 2016Q1. The ratio is positive, as 16 funds sold all Valley National Bancorp shares owned while 56 reduced positions. 15 funds bought stakes while 80 increased positions. They now own 134.70 million shares or 3.36% more from 130.32 million shares in 2016Q1.
Voya Investment Lc holds 0% or 87,025 shares in its portfolio. State Bank Of Montreal Can holds 0% of its portfolio in Valley National Bancorp (NYSE:VLY) for 18,744 shares. Us Bancorp De owns 123 shares or 0% of their US portfolio. Qcm Cayman Ltd reported 12,016 shares or 0.05% of all its holdings. Brandywine Glob Inv Mngmt Limited Liability Com owns 870,313 shares or 0.05% of their US portfolio. Advantus Capital Management last reported 0.01% of its portfolio in the stock. Markston last reported 0% of its portfolio in the stock. The Texas-based Dimensional Fund Advsr L P has invested 0.05% in Valley National Bancorp (NYSE:VLY). Moreover, Ladenburg Thalmann Fincl Services Incorporated has 0% invested in Valley National Bancorp (NYSE:VLY) for 19,526 shares. Morgan Stanley, a New York-based fund reported 755,023 shares. Legal And General Grp Inc Public Ltd holds 0% or 194,729 shares in its portfolio. Proshare Lc last reported 85,087 shares in the company. Schwab Charles Invest Management Incorporated, a California-based fund reported 1.15 million shares. Td Asset Mgmt Incorporated reported 43,265 shares or 0% of all its holdings. Ameriprise accumulated 949,508 shares or 0.01% of the stock.

Insider Transactions: Since May 26, 2016, the stock had 0 insider purchases, and 2 insider sales for $121,067 net activity. $29,983 worth of Valley National Bancorp (NYSE:VLY) was sold by CROCITTO PETER P. 10,000 shares were sold by GUILFOILE MARY, worth $91,084 on Monday, June 13.

More important recent Valley National Bancorp (NYSE:VLY) news were published by: Prnewswire.com which released: “Valley National Bancorp Reports a 19 Percent Increase in Third Quarter Net …” on October 26, 2016, also Prnewswire.com published article titled: “Valley National Bancorp Releases 2016 Annual Dodd-Frank Act Stress Test Disclosure”, Nasdaq.com published: “Valley National Bancorp Reaches Analyst Target Price” on October 19, 2016. More interesting news about Valley National Bancorp (NYSE:VLY) was released by: Blogs.Wsj.com and their article: “Valley National Bancorp Taps Banking Tech Veteran as CIO” with publication date: May 31, 2016.

VLY Company Profile

Valley National Bancorp, incorporated in 1983, is the bank holding firm for Valley National Bank (the Bank). The Bank provides a range of commercial, retail, insurance and wealth management financial services products. The Company’s divisions include Consumer Lending; Commercial Lending; Investment Management, and Corporate and Other Adjustments. The consumer lending segment primarily includes residential mortgages, home equity loans and automobile loans. The commercial lending segment primarily includes floating rate and adjustable rate commercial and industrial loans, as well as fixed rate owner occupied and commercial real estate loans. The investment management segment includes the Company’s investments in various types of securities. The Bank has approximately 230 branches serving northern and central New Jersey, the New York City boroughs of Manhattan, Brooklyn, Queens and Long Island, and Florida.

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