Valley National Bancorp (VLY)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Valley National Bancorp (“Valley National” or “the Company”) (NASDAQ: VLY). Investors who purchased Valley National securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Valley National has violated federal securities laws.
On May 1, 2023, Raymond James analyst Stephen Moss cut the recommendation on Valley National, the holding company for Valley National Bank and Merchants Bank of New York, to “market perform” from “strong buy,” stating that “the risk of revenue challenges has increased due to rapidly increasing funding costs for the [banking] industry.” Moss noted that Valley National’s “deposit costs have increased at a faster rate relative to peers” and expressed “concern that deposit costs will continue to increase until the gap with Fed funds narrows further.” On this news, Valley National’s stock price fell sharply during intraday trading on May 1, 2023.
If you are aware of any facts relating to this investigation or purchased Valley National shares, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.