In yesterday’s Wall Street session, Valley National Bancorp (NASDAQ:VLY) shares traded at $8.52, up 4.41% from the previous session.
VLY stock price is now 6.69% away from the 50-day moving average and 2.52% away from the 200-day moving average. The market capitalization of the company currently stands at $4.34B.
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With the price target enhanced from $8 to $9.50, Morgan Stanley Upgraded its rating from Underweight to Equal-Weight for Valley National Bancorp (NASDAQ: VLY). On May 31, 2024, Keefe Bruyette Downgraded its previous ‘Outperform’ rating to ‘Mkt Perform’ on the stock keeping its target price maintained at $8, while ‘Barclays’ rates the stock as ‘Underweight’
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 $0.28 million. A total of 1.69% 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 $7336057344, which is based on a 11.96 price-to-earnings ratio, a 2.39 price-to-earnings-growth ratio, and a beta of 1.10. The fifty day moving average price for VLY is $8.022 and a two-hundred day moving average price translates $8.30945 for the stock.
The latest earnings results from Valley National Bancorp (NASDAQ: VLY) was released for 2024-06-30. The net profit margin was 10.37% and return on equity was 5.70% for VLY. The company reported revenue of $833.47 million for the quarter, compared to $787.46 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.84 percent.
