Polini lowered his rating for Valley National Bancorp ( VLY) of Wayne, N.J., to "Market Perform" from "Outperform," while lowering his 2012 earnings estimate by two cents to 72 cents a share, and his 2013 EPS estimate to 70 cents from 76 cents.
More and more Western investment banks are expanding in Saudi Arabia.
Here's the mood on Wall Street.
After a very damaging week, the major bank stocks are staging an impressive rebound Monday.
Investment banks' biggest revenue driver is continuing a nosedive into September.