Stocks of Valley National Bancorp (NASDAQ:VLY) traded higher last session on Wall Street, down -3.23% to $9.29.
VLY stock price is now -3.44% away from the 50-day moving average and 5.73% away from the 200-day moving average. The market capitalization of the company currently stands at $5.20B.
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, BANK LEUMI LE ISRAEL BM, 10% Owner bought 1,000,000 shares of the company’s stock on Nov 08 ’24. The stock was bought for $9,350,000 at an average price of $9.35. Upon completion of the transaction, the 10% Owner now directly owns 72,861,862 shares in the company, valued at $676.89 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 06 ’25, Former Director MENDELSON AVNER bought 402,000 shares of the business’s stock. A total of $4,184,389 was incurred on buying the stock at an average price of $10.41. A total of 14.65% 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.
The net profit margin was 10.06% and return on equity was 5.38% for VLY. The company reported revenue of $834.83 million for the quarter, compared to $818.18 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.03 percent. For the current quarter, analysts expect VLY to generate $485.53M in revenue.
