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RBC Capital Sticks to Their Buy Rating for Valley National Bancorp (VLY)

Tipranks - Sat Jan 31, 8:16AM CST

RBC Capital analyst Jon Arfstrom maintained a Buy rating on Valley National Bancorp yesterday and set a price target of $14.00. The company’s shares closed yesterday at $12.67.

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According to TipRanks, Arfstrom is a 5-star analyst with an average return of 14.7% and a 60.12% success rate. Arfstrom covers the Financial sector, focusing on stocks such as Associated Banc-Corp, Home Bancshares, and Huntington Bancshares.

In addition to RBC Capital, Valley National Bancorp also received a Buy from TD Cowen’s Janet Lee in a report issued today. However, on the same day, KBW maintained a Hold rating on Valley National Bancorp (NASDAQ: VLY).

Based on Valley National Bancorp’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $891.81 million and a net profit of $163.36 million. In comparison, last year the company earned a revenue of $913.9 million and had a net profit of $97.86 million

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