Private Capital Management Has Cut Its Valley National Bancorp (VLY) Stake by $893,184 as Shares Declined; Capital Investment Counsel Increased Bank Amer (BAC) Position by $344,955 | The Cardinal Weekly


July 12, 2018 – By Margaret Guttierez

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Capital Investment Counsel Inc increased its stake in Bank Amer Corp (BAC) by 46.9% based on its latest 2018Q1 regulatory filing with the SEC. Capital Investment Counsel Inc bought 11,895 shares as the company’s stock declined 6.97% with the market. The institutional investor held 37,257 shares of the major banks company at the end of 2018Q1, valued at $1.12 million, up from 25,362 at the end of the previous reported quarter. Capital Investment Counsel Inc who had been investing in Bank Amer Corp for a number of months, seems to be bullish on the $290.80 billion market cap company. The stock decreased 0.52% or $0.15 during the last trading session, reaching $28.68. About 50.22 million shares traded. Bank of America Corporation (NYSE:BAC) has risen 29.72% since July 12, 2017 and is uptrending. It has outperformed by 17.15% the S&P500. Some Historical BAC News: 10/04/2018 – BofA to stop lending to some makers of military firearms -Bloomberg; 09/05/2018 – LifePoint Presenting at Bank of America Conference May 15; 03/05/2018 – Bank of America’s global capital markets head departs for Silver Lake; 09/05/2018 – Chemed Presenting at Bank of America Conference May 15; 30/05/2018 – AAPL, BAC, MS and 1 more: Tencent hires Goldman Sachs, Morgan Stanley and BofA to list music unit in New York. Chinese tech company wants to fetch a valuation of $30bn through listing its streaming biz, which also a stake in Spotify; 08/03/2018 – SEC: Merrill Lynch Charged With Gatekeeping Failures in the Unregistered Sales of Securities; 12/04/2018 – GE Capital has “zero equity value,” according to Bank of America Merrill Lynch; 30/05/2018 – AT&T to Webcast Keynote by David Christopher at Bank of America Merrill Lynch Conference on June 6; 21/05/2018 – CAMPBELL SOUP CO CPB.N : BOFA MERRILL CUTS PRICE OBJECTIVE TO $31 FROM $46; 27/03/2018 – Star Mountain Names Former Head of U.S. Leveraged Loan Capital Markets at Merrill Lynch, Stephen Paras, as Managing Director &

Private Capital Management Llc decreased its stake in Valley National Bancorp (VLY) by 16.53% based on its latest 2018Q1 regulatory filing with the SEC. Private Capital Management Llc sold 74,432 shares as the company’s stock declined 0.85% with the market. The institutional investor held 375,748 shares of the major banks company at the end of 2018Q1, valued at $4.68 million, down from 450,180 at the end of the previous reported quarter. Private Capital Management Llc who had been investing in Valley National Bancorp for a number of months, seems to be less bullish one the $4.20B market cap company. The stock decreased 0.24% or $0.03 during the last trading session, reaching $12.69. About 2.10 million shares traded. Valley National Bancorp (NYSE:VLY) has risen 11.46% since July 12, 2017 and is uptrending. It has underperformed by 1.11% the S&P500. Some Historical VLY News: 26/04/2018 – Valley National Bancorp 1Q Noninterest Income $32.3; 07/05/2018 – Valley National at Company Marketing Hosted By Stephens Inc; 22/04/2018 – DJ Valley National Bancorp, Inst Holders, 1Q 2018 (VLY); 26/04/2018 – VALLEY NATIONAL 1Q EPS 12C; 26/03/2018 – Community Valley Bank Buying Southern California Branch from Umpqua Bank; 30/04/2018 – Valley National Access Event Set By Stephens Inc. for May. 7-8; 05/04/2018 – Golden Valley Bank Reports Strong Growth, Earnings and Dividend

More notable recent Bank of America Corporation (NYSE:BAC) news were published by: Seekingalpha.com which released: “Buybacks set for record, but share gains don’t match” on July 09, 2018, also Finance.Yahoo.com with their article: “Bank of America Stock Looks Good on Paper, but That’s About It” published on July 11, 2018, Benzinga.com published: “After Big Monday Rally, Markets Approach Recent Highs As Earnings Season Looms” on July 10, 2018. More interesting news about Bank of America Corporation (NYSE:BAC) were released by: Fool.com and their article: “Bank of America Is Going to Dimonland” published on July 02, 2018 as well as Fool.com‘s news article titled: “3 Top Bank Stocks to Buy in July” with publication date: July 12, 2018.

Among 33 analysts covering Bank of America (NYSE:BAC), 22 have Buy rating, 0 Sell and 11 Hold. Therefore 67% are positive. Bank of America had 114 analyst reports since July 21, 2015 according to SRatingsIntel. JP Morgan maintained Bank of America Corporation (NYSE:BAC) on Wednesday, November 1 with “Overweight” rating. The rating was upgraded by Bruyette & Woods” to “Mkt Perform” on Monday, August 24. CLSA maintained it with “Outperform” rating and $18 target in Friday, September 23 report. Bernstein upgraded the shares of BAC in report on Tuesday, September 1 to “Buy” rating. The firm has “Buy” rating by Deutsche Bank given on Tuesday, August 25. BMO Capital Markets maintained the shares of BAC in report on Monday, October 16 with “Market Perform” rating. The stock of Bank of America Corporation (NYSE:BAC) earned “Outperform” rating by Credit Agricole on Friday, January 29. On Tuesday, August 25 the stock rating was upgraded by Robert W. Baird to “Neutral”. The company was upgraded on Friday, January 29 by CLSA. KBW upgraded it to “Outperform” rating and $20 target in Monday, August 24 report.

Investors sentiment decreased to 0.95 in 2018 Q1. Its down 0.24, from 1.19 in 2017Q4. It turned negative, as 73 investors sold BAC shares while 633 reduced holdings. 134 funds opened positions while 535 raised stakes. 6.66 billion shares or 2.67% less from 6.85 billion shares in 2017Q4 were reported. Brave Warrior Lc has invested 0.02% in Bank of America Corporation (NYSE:BAC). Tctc Lc reported 1.63% of its portfolio in Bank of America Corporation (NYSE:BAC). Integral Derivatives Limited Liability Corp stated it has 35,474 shares. Cornercap Inv Counsel Incorporated invested 0.16% in Bank of America Corporation (NYSE:BAC). 357,908 were reported by Old National Bank & Trust In. 3.07M were reported by Proshare Lc. Jupiter Asset owns 2.07M shares or 1.88% of their US portfolio. Pettyjohn Wood And White invested 1.32% of its portfolio in Bank of America Corporation (NYSE:BAC). Kentucky Retirement Insur Fund holds 219,023 shares. The Pennsylvania-based Swarthmore has invested 2.55% in Bank of America Corporation (NYSE:BAC). Ferguson Wellman Capital holds 21,016 shares. California Pub Employees Retirement owns 24.47 million shares for 1.05% of their portfolio. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Inv Management accumulated 813,900 shares. C M Bidwell Associate Ltd owns 14,010 shares. Accredited Investors reported 0.1% stake.

Investors sentiment decreased to 1.12 in Q1 2018. Its down 0.18, from 1.3 in 2017Q4. It worsened, as 33 investors sold VLY shares while 64 reduced holdings. 29 funds opened positions while 80 raised stakes. 178.23 million shares or 7.90% more from 165.19 million shares in 2017Q4 were reported. Hourglass Capital Llc owns 494,680 shares. Cetera Advisor Networks Ltd Liability reported 32,885 shares stake. Vanguard Gp Inc invested in 27.03M shares. 35,000 were reported by Cannell Peter B & Company. Endurance Wealth Mngmt has 367 shares. Gam Hldg Ag invested in 10,373 shares. State Treasurer State Of Michigan owns 96,414 shares or 0.01% of their US portfolio. Jane Street Gru Limited Liability Corp holds 0% of its portfolio in Valley National Bancorp (NYSE:VLY) for 12,559 shares. Avalon Advsrs Lc accumulated 0.07% or 187,487 shares. Price T Rowe Assocs Md invested in 0% or 43,862 shares. Liberty Mutual Grp Asset Mgmt holds 0.02% of its portfolio in Valley National Bancorp (NYSE:VLY) for 51,868 shares. Salem Inv Counselors Inc holds 0.7% of its portfolio in Valley National Bancorp (NYSE:VLY) for 501,105 shares. Teacher Retirement System Of Texas holds 69,235 shares or 0.01% of its portfolio. Maltese Mngmt reported 1.08M shares. Stone Ridge Asset Mngmt Lc accumulated 0.02% or 22,327 shares.

Since January 29, 2018, it had 2 insider purchases, and 5 selling transactions for $6.81 million activity. 2,040 shares valued at $24,945 were bought by LENNER MARC J on Monday, February 5. LIPKIN GERALD H sold $3.33M worth of Valley National Bancorp (NYSE:VLY) on Friday, May 25. Another trade for 76,000 shares valued at $1.00M was made by JONES GRAHAM O on Wednesday, June 6. GUILFOILE MARY also sold $236,079 worth of Valley National Bancorp (NYSE:VLY) shares. 3,433 shares valued at $43,613 were bought by Baum Peter J on Monday, January 29. 5,000 Valley National Bancorp (NYSE:VLY) shares with value of $66,350 were sold by KORDE GERALD.

Private Capital Management Llc, which manages about $900.00 million and $636.50M US Long portfolio, upped its stake in Fiesta Restaurant Group Inc. (NASDAQ:FRGI) by 87,368 shares to 1.22M shares, valued at $22.55 million in 2018Q1, according to the filing. It also increased its holding in Allergan Plc by 26,305 shares in the quarter, for a total of 201,999 shares, and has risen its stake in Cbiz Inc. (NYSE:CBZ).

Analysts await Valley National Bancorp (NYSE:VLY) to report earnings on July, 26 before the open. They expect $0.23 EPS, up 27.78% or $0.05 from last year’s $0.18 per share. VLY’s profit will be $76.20M for 13.79 P/E if the $0.23 EPS becomes a reality. After $0.18 actual EPS reported by Valley National Bancorp for the previous quarter, Wall Street now forecasts 27.78% EPS growth.

Bank of America Corporation (NYSE:BAC) Institutional Positions Chart

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