Valley National Bancorp to acquire Bluevine for $340 million

Valley National Bancorp has entered into a definitive agreement to acquire Israeli fintech company Bluevine for $340 million, a deal structured as 75% cash and 25% stock. Bluevine, which provides a digital banking platform for small businesses in the United States, serves approximately 175,000 active customers and holds roughly $2.1 billion in digitally sourced deposits.

The acquisition is intended to bolster Valley National Bank’s engineering, data science, and AI capabilities, reducing its dependence on third-party software providers. Approximately 180 R&D professionals located in the United States and Tel Aviv will join the bank as part of the transaction. This move follows Valley National Bank’s 2022 acquisition of Bank Leumi USA, which expanded its ties to Israeli technology and venture capital.

Separately, financial analysts have provided updated outlooks for Valley National Bancorp. Morgan Stanley recently adjusted its price target for the stock from $17.00 to $16.00 while maintaining an “equal weight” rating. Other firms, including Piper Sandler and Barclays, have also issued recent price target adjustments for the company.