Valley National Bancorp stock was down 1.5% in premarket trades on Tuesday after the financial company’s second-quarter profit and revenue fell short of...
Valley National Bancorp VLY stock was down 1.5% in premarket trades on Tuesday after the financial company’s second-quarter profit and revenue fell short of estimates, and Hovde Group analysts downgraded the stock to market perform from outperform, while hiking its price target by $1 to $11 a share. Hovde Group analysts said challenges remain for the company even as it targets $40 million in in cost savings initiatives.
5% in premarket trades on Tuesday after the financial company’s second-quarter profit and revenue fell short of estimates, and Hovde Group analysts downgraded the stock to market perform from outperform, while hiking its price target by $1 to $11 a share. Hovde Group analysts said challenges remain for the company even as it targets $40 million in in cost savings initiatives.
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