Valley National Bancorp (NASDAQ:VLY) shares traded 6.26% higher at $11.03 on Wall Street last session.
VLY stock price is now 28.79% away from the 50-day moving average and 26.80% away from the 200-day moving average. The market capitalization of the company currently stands at $5.60B.
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With the price target of $9.50, Citigroup recently initiated with Neutral rating for Valley National Bancorp (NASDAQ: VLY).
In other news, CHILLURA JOSEPH, SEVP, Chief Customer Officer sold 50,000 shares of the company’s stock on Dec 08. The stock was sold for $497,500 at an average price of $9.95. Upon completion of the transaction, the SEVP, Chief Customer Officer now directly owns 541,235 shares in the company, valued at $5.97 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 14, SEVP, Chief Customer Officer CHILLURA JOSEPH sold 100,000 shares of the business’s stock. A total of $864,000 was realized by selling the stock at an average price of $8.64. This leaves the insider owning 591,235 shares of the company worth $6.52 million. Insiders disposed of 411,740 shares of company stock worth roughly $4.54 million over the past 1 year. A total of 15.79% of the company’s stock is owned by insiders.
During the past 12 months, Valley National Bancorp has had a low of $6.39 and a high of $12.61. The fifty day moving average price for VLY is $8.56 and a two-hundred day moving average price translates $8.70 for the stock.
The latest earnings results from Valley National Bancorp (NASDAQ: VLY) was released for Sep, 2023. According to the Banks – Regional Company, earnings per share came in at $0.26, inline with analysts’ expectations of $0.26. This compares to $0.34 EPS in the same period last year. The net profit margin was 18.45% and return on equity was 9.37% for VLY. The company reported revenue of $813.02 million for the quarter, compared to $536.73 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 51.48 percent. For the current quarter, analysts expect VLY to generate $468.14M in revenue.
