Wall Street's Most Accurate Analysts Weigh In On 3 Financials Stocks With Over 5% Dividend Yields
Portfolio Pulse from Avi Kapoor
Wall Street's most accurate analysts have provided their latest ratings on three high-yielding financial stocks: NewtekOne, Inc. (NEWT), Comerica Incorporated (CMA), and Valley National Bancorp (VLY). These stocks offer dividend yields over 5%, making them attractive during market turbulence. Analysts have adjusted their ratings and price targets for these stocks, reflecting recent performance and market conditions.
July 26, 2024 | 11:46 am
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POSITIVE IMPACT
Comerica Incorporated (CMA) has received updated ratings from analysts. Morgan Stanley maintained an Equal-Weight rating and cut the price target from $53 to $50. RBC Capital maintained an Outperform rating but reduced the price target from $58 to $56. CMA posted better-than-expected quarterly results on July 19.
Despite the reduced price targets, the better-than-expected quarterly results provide a positive outlook for the stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
NewtekOne, Inc. (NEWT) has received updated ratings from analysts. Keefe, Bruyette & Woods maintained a Market Perform rating but cut the price target from $16 to $13. Piper Sandler also maintained a Neutral rating and reduced the price target from $13 to $11. NEWT will report its Q2 financial results on August 5.
Both analysts have downgraded their price targets, indicating a bearish outlook. The upcoming Q2 financial results could further impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Valley National Bancorp (VLY) has received updated ratings from analysts. JP Morgan maintained a Neutral rating and cut the price target from $8.5 to $8. Keefe, Bruyette & Woods downgraded the stock from Outperform to Market Perform and reduced the price target from $12 to $8. VLY posted weaker-than-expected quarterly sales on July 25.
The downgrades and weaker-than-expected quarterly sales suggest a bearish outlook for the stock.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100