TD Cowen raised the firm’s price target on Valley National (VLY) to $15 from $14 and keeps a Buy rating on the shares. The firm said lower-cost deposit growth momentum continues to build as the bank shifts further toward relationship-based C&I lending. Combined with outsized fixed asset repricing benefits and healthy C&I pipelines, they see Valley positioned to deliver above-peer NIM expansion.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VLY:
- Valley National partners with Infinant
- Valley National price target raised to $15 from $12 at Cantor Fitzgerald
- Valley National’s Earnings Call Highlights Strong Growth Amid Challenges
- Valley National price target raised to $14 from $13 at JPMorgan
- Valley National price target raised to $12 from $11.50 at Keefe Bruyette