Valley National Bancorp (VLY) Gets a Hold Rating from Morgan Stanley


Morgan Stanley analyst Ken Zerbe maintained a Hold rating on Valley National Bancorp (VLY) today and set a price target of $12.00. The company’s shares closed last Thursday at $10.87, close to its 52-week high of $11.52.

According to TipRanks.com, Zerbe is a 4-star analyst with an average return of 10.3% and a 58.0% success rate. Zerbe covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, People’s United Financial, and Cadence Bancorporation.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Valley National Bancorp with a $10.50 average price target.

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The company has a one-year high of $11.52 and a one-year low of $6.00. Currently, Valley National Bancorp has an average volume of 2.02M.

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Valley National Bancorp is a bank holding company, which engages in the provision of retail and commercial banking services. It operates through the following segments: Consumer Lending; Commercial Lending; Investment Management; and Corporate and other adjustments. The Consumer Lending segment consists of residential mortgage loans, automobile loans and home equity loans, as well as wealth management services including trust, asset management, insurance services, and asset-based lending support. The Commercial Lending segment refers to the floating rate and adjustable rate commercial and industrial loans as well as fixed rate owner occupied and commercial real estate loans. The Investment Management segment is the investments in various types of securities and interest-bearing deposits with other banks which focus on fixed rate securities, federal funds sold and interest-bearing deposits with banks. The Corporate and Other Adjustments segment relates to income and expense items not directly attributable to a specific segment. The company was founded in 1983 and is headquartered in Wayne, NJ.

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