Major Brokerage Firms Issue Research Notes on Valley National Bancorp (VLY)


Valley National Bancorp (NASDAQ:VLY) saw a downside of -1.69% to close Tuesday at $11.05 after subtracting -$0.19 on the day. The 5-day average trading volume is 2,379,160 shares of the company’s common stock. It has gained $11.30 in the past week and touched a new high 2 times within the past 5 days. An average of 2,404,620 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,537,316.

VLY’s 1-month performance is -3.66% or -$0.43 on its low of $10.73 reached on 01/19/23. The company’s shares have touched a 52-week low of $10.01 and high of $14.80, with the stock’s rally to the 52-week high happening on 01/03/23. YTD, VLY has lost -2.30% or -$0.26 and has reached a new high 1 time. However, the current price is down -25.34% from the 52-week high price.

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Valuation Metrics

VLY stock has a beta of 1.12. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.27 while the price-to-book (PB) in the most recent quarter is 0.92, with the price to cash flow ratio at 4.47.

As well, the company’s long term debt to equity for the quarter ending September 29 was 0.13, while the total debt to equity was 0.13. The firm’s gross profit as reported stood at $1.21 billion against revenue of $1.33 billion.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected VLY to announce $0.34 per share in earnings in its latest quarter, but it posted $0.35, representing a 2.90% surprise. Shareholders hold equity totaling $506.36 million.

Let’s look briefly at Valley National Bancorp (VLY) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 44.93% to suggest the stock is trending Neutral, with historical volatility in this time period at 25.22%.

The stock’s 5-day moving average is $11.02, reflecting a -1.52% or -$0.17 change from its current price. VLY is currently trading -2.90% above its 20-day SMA, -6.36% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -9.35% and SMA200 by-11.46%.

Stochastic %K and %D was 51.64% and 37.46% and the average true range (ATR) pointed at 0.26. The RSI (14) points at 44.32%, while the 14-day stochastic is at 43.24% with the period’s ATR at 0.27. The stock’s 9-day MACD Oscillator is pointing at 0.00 and -0.01 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Valley National Bancorp (NASDAQ: VLY), Raymond James launched coverage with a Strong buy rating. Analysts offering their rating for VLY stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate VLY as a “sell,”, while 3 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 8 have offered a “buy” rating.

What is VLY’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $12.00 and a high of $16.00, with their median price target at $14.00. Looking at these predictions, the average price target given by analysts is for Valley National Bancorp (VLY) stock is $14.00.


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