Valley National Bancorp filed with the SEC for the resale of up to 72.9 million shares of common stock by a selling shareholder. This filing indicates that a substantial block of existing shares could be offered to the market.
The resale is by an existing shareholder, not a primary offering by Valley National Bancorp itself. This means the company will not receive any proceeds from the sale of these shares.
The potential availability of a large number of shares for resale could influence market perceptions regarding the stock's liquidity and future trading patterns.
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