KBW analyst Christopher Mcgratty maintained a Buy rating on Valley National Bancorp (VLY – Research Report) yesterday and set a price target of $12.00. The company’s shares closed yesterday at $7.77.
Mcgratty covers the Financial sector, focusing on stocks such as NY Community, First Interstate Bancsystem, and Old National Bancorp Capital. According to TipRanks, Mcgratty has an average return of 10.0% and a 64.00% success rate on recommended stocks.
The word on The Street in general, suggests a Hold analyst consensus rating for Valley National Bancorp with a $9.56 average price target.
The company has a one-year high of $11.07 and a one-year low of $6.07. Currently, Valley National Bancorp has an average volume of 7M.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is neutral on the stock.
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Valley National Bancorp (VLY) Company Description:
Valley National Bancorp is a bank holding company, which engages in the provision of retail and commercial banking services. It operates through the following segments: Consumer Lending; Commercial Lending; Investment Management; and Corporate and other adjustments. The Consumer Lending segment consists of residential mortgage loans, automobile loans and home equity loans, as well as wealth management services including trust, asset management, insurance services, and asset-based lending support. The Commercial Lending segment refers to the floating rate and adjustable rate commercial and industrial loans as well as fixed rate owner occupied and commercial real estate loans. The Investment Management segment is the investments in various types of securities and interest-bearing deposits with other banks which focus on fixed rate securities, federal funds sold and interest-bearing deposits with banks. The Corporate and Other Adjustments segment relates to income and expense items not directly attributable to a specific segment. The company was founded in 1983 and is headquartered in Wayne, NJ.
Read More on VLY:
- Valley National Bancorp Issues Non-Updating Investor Materials
- Valley National put volume heavy and directionally bearish
- Valley National Bancorp to Announce First Quarter 2024 Earnings
- Valley National price target lowered to $10 from $12 at RBC Capital
- Valley National files automatic mixed securities shelf
