In yesterday’s Wall Street session, Valley National Bancorp (NASDAQ:VLY) shares traded at $10.31, down -1.06% from the previous session.
VLY stock price is now 4.94% away from the 50-day moving average and 19.72% away from the 200-day moving average. The market capitalization of the company currently stands at $5.76B.
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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, MENDELSON AVNER, Former Director bought 402,000 shares of the company’s stock on Feb 06 ’25. The stock was bought for $4,184,389 at an average price of $10.41. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 30 ’25, SEVP, CML Banking President CHILLURA JOSEPH sold 50,000 shares of the business’s stock. A total of $520,000 was realized by selling the stock at an average price of $10.40. This leaves the insider owning 445,249 shares of the company worth $4.59 million. A total of 1.53% 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 $11.10. According to the stock market information, the enterprise value for the company is $8103278592, which is based on a 14.95 price-to-earnings ratio, a 0.58 price-to-earnings-growth ratio, and a beta of 1.13. The fifty day moving average price for VLY is $9.825 and a two-hundred day moving average price translates $8.61205 for the stock.
The latest earnings results from Valley National Bancorp (NASDAQ: VLY) was released for 2024-09-30. The net profit margin was 10.06% and return on equity was 5.38% 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. For the current quarter, analysts expect VLY to generate $485.53M in revenue.
