The stock of Valley National Bancorp (NASDAQ:VLY) decreased by -$0.38 on Tuesday to finish at $9.29, down -3.93 percent. The last five days have seen an average of 2,731,920 shares of common stock traded. 5 times new highs were reached in the current year, with a fall of -$2.02. The average number of shares traded over the last 20 days was 4,563,470, while the average volume over the last 50 days totaled 4,351,630.
VLY stock appreciated 9.55% since last month. On 07/17/23, the company’s shares reached a one-month low of $8.16. The stock touched a high of $13.07 on 02/03/23, after rallying from a low of $6.39 in 52 weeks. The price of VLY stock has declined by -17.86% or -$2.02 this year, reaching a new high 5 times. Still, the stock price is down -28.92% from the 52-week high.
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Insider Transactions
VLY stock investors should be aware that Valley National Bancorp (VLY) stock had its last reported insider trading activity 86 days ago on May 22. On May 22, Director SANI SURESH L acquired 4,416 shares at $15.70 each. This transaction resulted in the insider spending $69,331. On May 12, MENDELSON AVNER added 2,611 shares at a price of US$15.52. After the transaction, the insider now owns 134,126 shares. Director Baum Peter J had earlier bought 2,500 shares on May 08 for $17.45 a share. The transaction was completed for $43,625.
Valuation Metrics
Valley National Bancorp (VLY) has a trailing price-to-earnings (P/E) ratio of 7.55. Beta for the stock is 1.16. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.76, the price-to-book (PB) ratio of 0.74, and the price-to-cash flow ratio of 5.76.
Company paid $0.11 per share in dividends, remained unchanged from $0.11 last year. A $0.0525 dividend decrease was reported on Tuesday November 19 2013.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.13, and the total debt to equity ratio is 0.13. Valley National Bancorp’s operating margin stood at 64.90% for the same period. Based on annual data, it had gross profit of $1.66 billion and revenue of $1.98 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. VLY’s return on assets (ROA) during the last 12 months has been 1.00%. There was a 19.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 10.10%.
Earnings Surprise
According to Valley National Bancorp’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that Valley National Bancorp’s quarterly earnings would be $0.28, but it ended up being $0.29, beating the consensus by -3.40%. At the end of Valley National Bancorp’s most recent quarter ended June 29, its total debt was $4.61 billion. Equity owned by shareholders amounts to $507.63 million.
Technical Picture
Here’s a quick look at Valley National Bancorp’s (VLY) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 35.50%, suggesting the stock is Neutral, with a 25.31% historical volatility rate.
The stochastic %K and %D were 12.23% and 27.43% respectively, while the average true range (ATR) was 0.34. Based on the 14-day stochastic reading of 5.56%, the RSI (14) reading is 46.21%. On the 9-day MACD Oscillator, the stock is at -0.31, and the 14-day reading is at -0.36.
Analyst Ratings
Valley National Bancorp (NASDAQ: VLY) was downgraded by Hovde Group to a a Market perform rating in its latest research report. The stock was previously rated as a an Outperform. Analysts have assigned Valley National Bancorp (VLY) an Overweight rating. VLY is a stock that is recommended for selling by 0 brokerage firms, while 5 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 6 others recommend it as a buy.
What is VLY’s price target for the next 12 months?
The current consensus forecast for the stock is between $8.00 and $12.00, with a median target price of $11.25. In analyzing these forecasts, the average price target given by analysts for Valley National Bancorp (VLY) is $11.00.
