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Valley National Bancorp (VLY) gets rating Downgrade from Keefe Bruyette

Valley National Bancorp’s recent filing unveils that its SEVP, CML Banking President CHILLURA JOSEPH unloaded Company’s shares for reported $65700.0 on Jun 14 ’24. In the deal valued at $6.57 per share,10,000 shares were sold. As a result of this transaction, CHILLURA JOSEPH now holds 0 shares worth roughly $0.0.

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Then, WILLIAMS SIDNEY S bought 742 shares, generating $5,001 in total proceeds. Upon buying the shares at $6.74, the Director now owns 33,329 shares.

Before that, CHILLURA JOSEPH sold 25,000 shares. Valley National Bancorp shares valued at $185,750 were divested by the SEVP, CML Banking President at a price of $7.43 per share. As a result of the transaction, CHILLURA JOSEPH now holds 10,000 shares, worth roughly $69100.0.

Keefe Bruyette downgraded its Valley National Bancorp [VLY] rating to a Mkt perform from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including Barclays’s analysts, who began to cover the stock in early March with a ‘”an Underweight”‘ rating. Citigroup began covering VLY with “Neutral” recommendation on December 01, 2023. JP Morgan revised its rating on October 30, 2023. It rated VLY as “a Neutral” which previously was an “an Overweight”.

Price Performance Review of VLY

On Tuesday, Valley National Bancorp [NASDAQ:VLY] saw its stock jump 0.29% to $6.91. Over the last five days, the stock has gained 4.54%. Valley National Bancorp shares have fallen nearly -36.37% since the year began. Nevertheless, the stocks have fallen -10.84% over the past one year. While a 52-week high of $11.22 was reached on 01/02/24, a 52-week low of $6.47 was recorded on 06/17/24. SMA at 50 days reached $7.22, while 200 days put it at $8.39. A total of 3.96 million shares were traded, compared to the trading of 8.37 million shares in the previous session.

Levels Of Support And Resistance For VLY Stock

The 24-hour chart illustrates a support level at 6.85, which if violated will result in even more drops to 6.79. On the upside, there is a resistance level at 6.97. A further resistance level may holdings at 7.02. The Relative Strength Index (RSI) on the 14-day chart is 49.90, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.20, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 35.29%. Stochastics%K at 67.16% indicates the stock is a holding.

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