Valley National Bancorp shares are trading lower after Hovde Group downgraded the stock from Outperform to Market Perform and announced an $11 price target.
Portfolio Pulse from Benzinga Newsdesk
Valley National Bancorp's stock has been downgraded from Outperform to Market Perform by Hovde Group, which also set a price target of $11. This has led to a decrease in the trading price of the shares.
August 04, 2023 | 9:39 am
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Valley National Bancorp's stock was downgraded by Hovde Group, leading to a decrease in its share price.
The downgrade by Hovde Group from Outperform to Market Perform indicates a less optimistic outlook for the company's stock. This, coupled with a price target of $11, has likely contributed to the decrease in the trading price of Valley National Bancorp's shares.
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