What’s Propelling Valley National Bancorp (VLY) to Reach 52-Week High?

February 17, 2018 - By Richard Conner

Investors sentiment increased to 1.66 in Q3 2017. Its up 0.08, from 1.58 in 2017Q2. It is positive, as 12 investors sold Valley National Bancorp shares while 64 reduced holdings. 35 funds opened positions while 91 raised stakes. 167.29 million shares or 2.75% more from 162.82 million shares in 2017Q2 were reported.
Guggenheim Cap Limited Com holds 150,148 shares. Basswood Limited Liability Company reported 0.18% of its portfolio in Valley National Bancorp (NYSE:VLY). Tiaa Cref Invest Ltd Liability Corp holds 0.01% or 1.33M shares in its portfolio. Mercer Capital Advisers Inc invested in 12,265 shares or 0.11% of the stock. Manufacturers Life Insur The reported 571,935 shares. 584,234 are owned by Boston Advsr Limited Liability Company. Ing Groep Nv holds 0.01% or 32,329 shares in its portfolio. Ameritas Ptnrs reported 100,459 shares. First Republic Inv holds 28,213 shares. Gsa Prtnrs Ltd Liability Partnership holds 0.03% of its portfolio in Valley National Bancorp (NYSE:VLY) for 37,205 shares. State Treasurer State Of Michigan owns 0.01% invested in Valley National Bancorp (NYSE:VLY) for 99,314 shares. New Jersey-based Tsp Management Grp Lc has invested 0.34% in Valley National Bancorp (NYSE:VLY). Denver Inv Advisors Limited Liability Company stated it has 1.26M shares. Raymond James Financial Ser Advsrs has invested 0% in Valley National Bancorp (NYSE:VLY). Bluecrest Cap Limited holds 0.17% in Valley National Bancorp (NYSE:VLY) or 347,112 shares.

Since January 29, 2018, it had 2 insider buys, and 0 sales for $68,558 activity. Baum Peter J had bought 3,433 shares worth $43,613 on Monday, January 29.

The stock of Valley National Bancorp (NYSE:VLY) hit a new 52-week high and has $13.31 target or 4.00 % above today’s $12.80 share price. The 5 months bullish chart indicates low risk for the $4.22B company. The 1-year high was reported on Feb, 17 by Barchart.com. If the $13.31 price target is reached, the company will be worth $168.64M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 1.19% or $0.15 during the last trading session, reaching $12.8. About 2.19 million shares traded. Valley National Bancorp (NYSE:VLY) has risen 24.84% since February 17, 2017 and is uptrending. It has outperformed by 8.14% the S&P500.

Valley National Bancorp (NYSE:VLY) Ratings Coverage

Among 11 analysts covering Valley National Bancorp (NYSE:VLY), 6 have Buy rating, 1 Sell and 4 Hold. Therefore 55% are positive. Valley National Bancorp had 23 analyst reports since August 19, 2015 according to SRatingsIntel. Keefe Bruyette & Woods maintained Valley National Bancorp (NYSE:VLY) rating on Monday, August 28. Keefe Bruyette & Woods has “Buy” rating and $13.0 target. The stock of Valley National Bancorp (NYSE:VLY) has “Hold” rating given on Tuesday, August 8 by Piper Jaffray. The stock of Valley National Bancorp (NYSE:VLY) earned “Hold” rating by Sandler O’Neill on Thursday, January 25. Keefe Bruyette & Woods maintained it with “Buy” rating and $15.0 target in Thursday, December 21 report. The stock has “Outperform” rating by Wood on Thursday, July 27. RBC Capital Markets maintained Valley National Bancorp (NYSE:VLY) on Thursday, January 28 with “Sector Perform” rating. As per Tuesday, August 25, the company rating was upgraded by Guggenheim. Hovde Group upgraded the shares of VLY in report on Monday, July 31 to “Outperform” rating. The stock of Valley National Bancorp (NYSE:VLY) earned “Hold” rating by Sandler O’Neill on Monday, November 14. The rating was upgraded by PiperJaffray on Friday, January 5 to “Overweight”.

More recent Valley National Bancorp (NYSE:VLY) news were published by: Prnewswire.com which released: “Valley National Bancorp Reports Fourth Quarter Net Income And Solid Net …” on January 25, 2018. Also Seekingalpha.com published the news titled: “Valley National Bancorp’s (VLY) CEO Ira Robbins on Q4 2017 Results - Earnings …” on January 26, 2018. Streetinsider.com‘s news article titled: “Form 4 VALLEY NATIONAL BANCORP For: Feb 16 Filed by: CRANDELL MITCHELL L” with publication date: February 16, 2018 was also an interesting one.

Valley National Bancorp operates as the holding firm for the Valley National Bank that provides commercial, retail, trust, and investment services. The company has market cap of $4.22 billion. The firm operates through Commercial Lending, Consumer Lending, and Investment Management divisions. It has a 22.18 P/E ratio. The Company’s deposit products include non-interest bearing, savings, NOW, and money market deposits, as well as certificates of deposit.

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