The price of Valley National Bancorp (NASDAQ:VLY) shares last traded on Wall Street fell -2.76% to $6.72.
VLY stock price is now -6.98% away from the 50-day moving average and -19.89% away from the 200-day moving average. The market capitalization of the company currently stands at $3.42B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
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 10,000 shares of the company’s stock on Jun 14 ’24. The stock was sold for $65,700 at an average price of $6.57. Upon completion of the transaction, the SEVP, CML Banking President now directly owns 0 shares in the company, valued at $0.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 10 ’24, Director WILLIAMS SIDNEY S bought 742 shares of the business’s stock. A total of $5,001 was incurred on buying the stock at an average price of $6.74. This leaves the insider owning 33,329 shares of the company worth $0.22 million. A total of 1.68% of the company’s stock is owned by insiders.
During the past 12 months, Valley National Bancorp has had a low of $6.47 and a high of $11.22. According to the stock market information, the enterprise value for the company is $6492198400, which is based on a 7.93 price-to-earnings ratio, a 1.59 price-to-earnings-growth ratio, and a beta of 1.10. The fifty day moving average price for VLY is $7.2004 and a two-hundred day moving average price translates $8.3758 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.
