Stocks of Valley National Bancorp (NASDAQ:VLY) traded higher last session on Wall Street, down -0.57% to $10.42.
VLY stock price is now 7.86% away from the 50-day moving average and 26.88% away from the 200-day moving average. The market capitalization of the company currently stands at $5.82B.
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With the price target enhanced from $10.50 to $11, JP Morgan Upgraded its rating from Neutral to Overweight for Valley National Bancorp (NASDAQ: VLY). On October 31, 2024, Barclays Upgraded its previous ‘Underweight’ rating to ‘Equal Weight’ on the stock increasing its target price from $9 to quote $10, while ‘Morgan Stanley’ rates the stock as ‘Equal-Weight’
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 $0.35 million. A total of 1.70% 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 $8419086848, which is based on a 16.75 price-to-earnings ratio, a 3.35 price-to-earnings-growth ratio, and a beta of 1.11. The fifty day moving average price for VLY is $9.6258 and a two-hundred day moving average price translates $8.2021 for the stock.
The latest earnings results from Valley National Bancorp (NASDAQ: VLY) was released for 2024-09-30. The net profit margin was 8.94% and return on equity was 4.94% for VLY. The company reported revenue of $860.55 million for the quarter, compared to $813.02 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.85 percent.
