In the latest trading session,, 0.46 million Valley National Bancorp (NASDAQ:VLY) shares changed hands as the company’s beta touched 1.11. With the company’s most recent per share price at $7.72 changed hands at -$0.02 or -0.19% at last look, the market valuation stands at $3.93B. VLY’s current price is a discount, trading about -45.34% off its 52-week high of $11.22. The share price had its 52-week low at $6.39, which suggests the last value was 17.23% up since then. When we look at Valley National Bancorp’s average trading volume, we note the 10-day average is 6.22 million shares, with the 3-month average coming to 6.23 million.
Valley National Bancorp (NASDAQ:VLY) trade information
Instantly VLY was in red as seen in intraday trades today. With action 3.14%, the performance over the past five days has been green. The drop to weekly highs of 8.22 subtracted -0.19% to the stock’s daily price. The company’s shares are showing year-to-date downside of -28.87%, with the 5-day performance at 3.14% in the green. However, in the 30-day time frame, Valley National Bancorp (NASDAQ:VLY) is -5.79% down. Looking at the short shares, we see there were 33.81 million shares sold at short interest cover period of 4.37 days.
Valley National Bancorp (VLY) estimates and forecasts
Data shows that the Valley National Bancorp share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -9.86% over the past 6 months, a -7.55% in annual growth rate that is considerably lower than the industry average of -7.00%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Valley National Bancorp will fall -30.00%, while the growth in revenue is estimated to hit -17.90% for the next quarter. Year-over-year growth is forecast to reach 3.00% up from the last financial year.
Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of $459.6 million. 9 analysts are of the opinion that Valley National Bancorp’s revenue for the quarter ending Jun 2024 will be $477.69 million. The company’s revenue for the corresponding quarters a year ago was $520.3 million and $479.84 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -11.70%. The estimates for the next quarter sales put growth at -0.40%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 4.85%. The 2024 estimates are for Valley National Bancorp earnings to decrease by -7.13%, but the outlook for the next 5-year period is at 5.00% per year.
VLY Dividends
Valley National Bancorp is expected to release its next quarterly earnings report between April 25 and April 29. The 5.70% annual yield figure for the share gives it an annual dividend of 0.44. It is important to note, however, that the 5.70% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Valley National Bancorp (NASDAQ:VLY)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.48% of Valley National Bancorp shares while 76.22% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 77.36%. There are 76.22% institutions holding the Valley National Bancorp stock share, with Blackrock Inc. the top institutional holder. As of Dec 30, 2023, the company held 19.44% of the shares, roughly 64.55 million VLY shares worth $494.47 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 13.74% or 45.63 million shares worth $349.49 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Dec 30, 2023 were Vanguard Total Stock Market Index Fund and iShares Core S&P Midcap ETF. With 13.57 million shares estimated at $103.96 million under it, the former controlled 4.09% of total outstanding shares. On the other hand, iShares Core S&P Midcap ETF held about 3.89% of the shares, roughly 12.93 million shares worth around $99.04 million.
