Mitchell L. Crandell, serving as Executive Vice President and Chief Accounting Officer at Valley National Bancorp (NASDAQ:VLY), executed a significant transaction involving the company's equity on June 12, 2026. Crandell sold 25,495 shares of common stock at a price of $14.63 per share, resulting in total proceeds of $372,991. This sale occurred while the stock was trading near its 52-week high of $14.70, following a remarkable 76.5% gain over the past year. According to InvestingPro analysis, Valley National remains undervalued with a Fair Value of $16.46.
Following this transaction, Mr. Crandell directly owns 76,116 shares of Valley National Bancorp common stock. InvestingPro subscribers have access to 10 additional exclusive tips about VLY, including insights on the company's 53-year dividend payment streak.
In other recent news, Valley National Bancorp has declared its regular quarterly dividends for preferred and common stockholders. The dividends will be paid on June 30, 2026, with specific amounts allocated to different series of preferred stock. In corporate governance developments, Valley National Bancorp held its Annual Meeting of Shareholders, where 11 directors were elected to serve for the coming year. In the financial sector, Morgan Stanley downgraded Valley National Bancorp to an Equalweight rating, citing the stock's past outperformance and limited near-term upside potential. The firm also raised its price target to $15.00. Conversely, Truist Securities maintained a Buy rating on Valley National Bancorp and increased its price target to $15.50, based on improved net interest income projections. Truist also adjusted its 2027 earnings estimates upward by five cents per share. These recent developments reflect the varied perspectives of financial analysts on Valley National Bancorp's future performance.