Valley National Bancorp (VLY) : Analyst Rating Update

Valley National Bancorp (VLY) : The consensus on Valley National Bancorp (VLY) based on 5 analyst recommendation on the company stock is 2.6, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 1 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 4 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Valley National Bancorp (VLY) : 5 Wall Street analysts covering Valley National Bancorp (VLY) believe that the average level the stock could reach for the short term is $9.6. The maximum price target given is $10 and the minimum target for short term is around $9, hence the standard deviation is calculated at $0.55.

Valley National Bancorp (NYSE:VLY): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $8.76 and $8.73 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $8.93. The buying momentum continued till the end and the stock did not give up its gains. It closed at $8.93, notching a gain of 0.79% for the day. The total traded volume was 2,125,145 . The stock had closed at $8.86 on the previous day.

The company shares have dropped -12.88% from its 1 Year high price. On Dec 1, 2015, the shares registered one year high at $11.24 and the one year low was seen on Jan 25, 2016. The 50-Day Moving Average price is $9.20 and the 200 Day Moving Average price is recorded at $9.27.

Valley National Bancorp (Valley) is a bank holding company. The Company operates through its subsidiary, Valley National Bank (Bank). The Bank operates in four segments: commercial lending, consumer lending, investment management, and corporate and other adjustments. Its Wealth Management Division is consisted of trust, asset management and insurance services. It provides a range of commercial, retail, insurance and wealth management financial services products. It provides various banking services, including automated teller machines, telephone and Internet banking, remote deposit capture and deposit facilities. It also provides international banking services to customers, including letters of credit, documentary letters of credit and related products. It operates approximately 211 branch locations, serving over 24 counties throughout northern and central New Jersey, the New York City boroughs of Manhattan, Brooklyn, Queens and Long Island and Florida.

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