RBC Capital analyst Jon Arfstrom maintained a Buy rating on Valley National Bancorp (VLY – Research Report) on January 10 and set a price target of $12.00. The company’s shares closed yesterday at $10.38.
According to TipRanks, Arfstrom is a 5-star analyst with an average return of 15.2% and a 56.57% success rate. Arfstrom covers the Financial sector, focusing on stocks such as First Horizon, Huntington Bancshares, and Synovus.
Currently, the analyst consensus on Valley National Bancorp is a Moderate Buy with an average price target of $10.00.
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VLY market cap is currently $5.43B and has a P/E ratio of 9.25.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VLY in relation to earlier this year.
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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 price target raised to $12.50 from $12 at JPMorgan
- Valley National promotes Russell Barrett to COO
- Valley National Bancorp Declares Its Regular Quarterly Preferred and Common Stock Dividends
- Citi starts regional banks with Western Alliance, First Horizon among top picks
- Valley National initiated with a Neutral at Citi
