J.P. Morgan Remains a Buy on Valley National Bancorp (VLY)

J.P. Morgan analyst Anthony Elian maintained a Buy rating on Valley National Bancorp today and set a price target of $15.50.

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According to TipRanks, Elian is an analyst with an average return of -1.8% and a 41.49% success rate. Elian covers the Financial sector, focusing on stocks such as Flagstar Financial, Valley National Bancorp, and First Citizens BancShares.

In addition to J.P. Morgan, Valley National Bancorp also received a Buy from Cantor Fitzgerald’s Dave Rochester in a report issued on March 3. However, on February 28, TipRanks – OpenAI downgraded Valley National Bancorp (NASDAQ: VLY) to a Hold.

Based on Valley National Bancorp’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $892.14 million and a net profit of $195.4 million. In comparison, last year the company earned a revenue of $886.46 million and had a net profit of $115.71 million

Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VLY in relation to earlier this year. Last month, Carlos Vazquez, a Director at VLY bought 2,500.00 shares for a total of $33,600.00.