Valley National Bancorp’s recently made public that its SEVP, CML Banking President CHILLURA JOSEPH unloaded Company’s shares for reported $0.41 million on Mar 11 ’24. In the deal valued at $8.18 per share,49,715 shares were sold. As a result of this transaction, CHILLURA JOSEPH now holds 545,249 shares worth roughly $4.15 million.
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Then, WILLIAMS SIDNEY S bought 673 shares, generating $6,979 in total proceeds. Upon buying the shares at $10.37, the Director now owns 21,605 shares.
Before that, CHILLURA JOSEPH sold 50,000 shares. Valley National Bancorp shares valued at $497,500 were divested by the SEVP, Chief Customer Officer at a price of $9.95 per share. As a result of the transaction, CHILLURA JOSEPH now holds 541,235 shares, worth roughly $4.12 million.
Barclays initiated its Valley National Bancorp [VLY] rating to an Underweight in a research note published on March 08, 2024; the price target was $8. A number of analysts have revised their coverage, including Citigroup’s analysts, who began to cover the stock in early December with a ‘”a Neutral”‘ rating. JP Morgan also remained covering VLY and has decreased its forecast on October 30, 2023 with a “Neutral” recommendation from previously “an Overweight” rating. Morgan Stanley revised its rating on September 27, 2023. It rated VLY as “an Underweight” which previously was an “an Equal-weight”.
Price Performance Review of VLY
On Tuesday, Valley National Bancorp [NASDAQ:VLY] saw its stock fall -1.68% to $7.61. Over the last five days, the stock has gained 1.60%. Valley National Bancorp shares have fallen nearly -29.93% since the year began. Nevertheless, the stocks have fallen -18.35% over the past one year. While a 52-week high of $11.22 was reached on 01/02/24, a 52-week low of $6.39 was recorded on 03/06/24. SMA at 50 days reached $8.66, while 200 days put it at $8.92. A total of 2.66 million shares were traded, compared to the trading of 4.78 million shares in the previous session.
Levels Of Support And Resistance For VLY Stock
The 24-hour chart illustrates a support level at 7.52, which if violated will result in even more drops to 7.43. On the upside, there is a resistance level at 7.78. A further resistance level may holdings at 7.95. The Relative Strength Index (RSI) on the 14-day chart is 41.33, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 78.07%. Stochastics %K at 39.59% indicates the stock is a holding.
How much short interest is there in Valley National Bancorp?
A steep rise in short interest was recorded in Valley National Bancorp stocks on Feb 29, 2024, growing by 10.81 million shares to a total of 33.81 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 23.0 million shares. There was a rise of 31.97%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 9.19% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.37.
