The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Valley National Bancorp shares valued at $65,700 were sold by CHILLURA JOSEPH on Jun 14 ’24. At $6.57 per share, CHILLURA JOSEPH sold 10,000 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, WILLIAMS SIDNEY S purchased 742 shares, netting a total of over 5,001 in proceeds. Following the buying of shares at $6.74 each, the insider now holds 33,329 shares.
Before that, CHILLURA JOSEPH had sold 25,000 shares from its account. In a trade valued at $185,750, the SEVP, CML Banking President traded Valley National Bancorp shares for $7.43 each. Upon closing the transaction, the insider’s holdings decreased to 25,000 shares, worth approximately $0.1 million.
As published in a research note from JP Morgan on November 11, 2024, Valley National Bancorp [VLY] has been rated up from a Neutral to an Overweight and the price target has been revised to $11 from $10.50. Analysts at Barclays upgraded the stock from ‘”an Underweight”‘ to ‘”an Equal weight”‘ outlook in a report released in late October. As of August 05, 2024, Morgan Stanley has increased its “an Underweight” rating to a “an Equal-weight” for VLY. Earlier on May 31, 2024, Keefe Bruyette downgraded its rating. Their new recommendation was “a Mkt perform” for VLY stock which previously was a “an Outperform”.
Analyzing VLY Stock Performance
During the last five days, there has been a drop of approximately -1.96%. Over the course of the year, Valley National Bancorp shares have dropped approximately -3.50%. Shares of the company reached a 52-week high of $11.10 on 11/25/24 and a 52-week low of $6.47 on 06/17/24. A 50-day SMA is recorded $9.63, while a 200-day SMA reached $8.20. Nevertheless, trading volume fell to 3.22 million shares from 8.98 million shares the previous day.
Support And Resistance Levels for Valley National Bancorp (VLY)
According to the 24-hour chart, there is a support level at 10.31, which, if violated, would cause prices to drop to 10.13. In the upper region, resistance lies at 10.59. The next price resistance is at 10.70. RSI (Relative Strength Index) is 59.31 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.05, which suggests the price will decrease in the coming days. Percent R is at 54.67%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
