Valley National shares are trading lower after S&P lowered its rating on the bank.
Portfolio Pulse from Benzinga Newsdesk
S&P has downgraded its rating on Valley National Bank, leading to a decrease in the bank's share prices.
August 22, 2023 | 4:34 pm
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NEGATIVE IMPACT
Valley National Bank's shares are trading lower after S&P lowered its rating on the bank.
Ratings from agencies like S&P significantly influence investor sentiment. A downgrade usually indicates potential risks or instability, which can lead to selling pressure on the stock. Hence, the negative impact on Valley National Bank's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100