Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Valley National Bancorp shares valued at $9,350,000 were purchased by BANK LEUMI LE ISRAEL BM on Nov 08 ’24. At $9.35 per share, BANK LEUMI LE ISRAEL BM acquired 1,000,000 shares. The insider’s holdings grew to 72,861,862 shares worth approximately $716.96 million following the completion of this transaction.
Also, MENDELSON AVNER purchased 402,000 shares, netting a total of over 4,184,389 in proceeds.
Before that, CHILLURA JOSEPH had sold 50,000 shares from its account. In a trade valued at $520,000, the SEVP, CML Banking President traded Valley National Bancorp shares for $10.40 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $4.38 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
Over the course of the year, Valley National Bancorp shares have jumped approximately 8.61%. Shares of the company reached a 52-week high of $10.45 on 02/06/25 and a 52-week low of $8.53 on 01/13/25. A 50-day SMA is recorded $9.73, while a 200-day SMA reached $8.71. Nevertheless, trading volume fell to 5.12 million shares from 5.64 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 9.74, which, if violated, would cause prices to drop to 9.63. In the upper region, resistance lies at 9.97. The next price resistance is at 10.09. RSI (Relative Strength Index) is 46.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.16, which suggests the price will decrease in the coming days. Percent R is at 87.23%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
