In yesterday’s Wall Street session, Valley National Bancorp (NASDAQ:VLY) shares traded at $6.74, down -0.44% from the previous session.
VLY stock price is now -10.41% away from the 50-day moving average and -21.57% away from the 200-day moving average. The market capitalization of the company currently stands at $3.43B.
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With the price target maintained at $8, Keefe Bruyette recently Downgraded its rating from Outperform to Mkt Perform for Valley National Bancorp (NASDAQ: VLY). On March 08, 2024, Barclays recently initiated its ‘Underweight’ rating on the stock quoting a target price of $8, while ‘Citigroup’ rates the stock as ‘Neutral’
In other news, CHILLURA JOSEPH, SEVP, CML Banking President sold 25,000 shares of the company’s stock on May 23 ’24. The stock was sold for $185,750 at an average price of $7.43. Upon completion of the transaction, the SEVP, CML Banking President now directly owns 10,000 shares in the company, valued at $67400.0. An SEC document containing details of the transaction can be found on the SEC’s website. On May 22 ’24, Director ABRAMSON ANDREW B sold 16,451 shares of the business’s stock. A total of $127,002 was realized by selling the stock at an average price of $7.72. This leaves the insider owning 224,679 shares of the company worth $1.51 million. A total of 15.85% of the company’s stock is owned by insiders.
During the past 12 months, Valley National Bancorp has had a low of $6.70 and a high of $11.22. According to the stock market information, the enterprise value for the company is $6507473920, which is based on a 7.95 price-to-earnings ratio, a 1.59 price-to-earnings-growth ratio, and a beta of 1.11. The fifty day moving average price for VLY is $7.5054 and a two-hundred day moving average price translates $8.58215 for the stock.
The latest earnings results from Valley National Bancorp (NASDAQ: VLY) was released for 2024-03-31. The net profit margin was 12.44% and return on equity was 6.77% for VLY. The company reported revenue of $828.66 million for the quarter, compared to $720.23 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 15.05 percent.
