During the last session, Valley National Bancorp (NASDAQ:VLY)’s traded shares were 2.9 million, with the beta value of the company hitting 1.10. At the end of the trading day, the stock’s price was $7.51, reflecting an intraday gain of 0.54% or $0.04. The 52-week high for the VLY share is $11.22, that puts it down -49.4 from that peak though still a striking 14.91% gain since the share price plummeted to a 52-week low of $6.39. The company’s market capitalization is $3.82B, and the average intraday trading volume over the past 10 days was 5.27 million shares, and the average trade volume was 6.50 million shares over the past three months.
Valley National Bancorp (NASDAQ:VLY) trade information
Valley National Bancorp (VLY) registered a 0.54% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 0.54% in intraday trading to $7.51, hitting a weekly high. The stock’s 5-day price performance is -5.65%, and it has moved by -7.97% in 30 days. Based on these gigs, the overall price performance for the year is -13.08%. The short interest in Valley National Bancorp (NASDAQ:VLY) is 39.6 million shares and it means that shorts have 5.09 day(s) to cover.
Valley National Bancorp (VLY) estimates and forecasts
Statistics show that Valley National Bancorp has underperformed its competitors in share price, compared to the industry in which it operates. Valley National Bancorp (VLY) shares have gone down -4.33% during the last six months, with a year-to-date growth rate less than the industry average at -8.49% against -6.30. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -33.30% this quarter and then drop -17.90% in the quarter after that. In the rating firms’ projections, revenue will increase 2.50% compared to the previous financial year.
Revenue for the current quarter is expected to be $457.33 million as predicted by 9 analyst(s). Meanwhile, a consensus of 9 analyst(s) estimates revenue growth to $475.91 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $520.3 million and $479.84 million respectively. In this case, analysts expect current quarter sales to shrink by -12.10% and then drop by -0.80% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 4.85%. While earnings are projected to return -9.24% in 2024, the next five years will return 5.00% per annum.
VLY Dividends
Valley National Bancorp is due to release its next quarterly earnings between April 25 and April 29. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Valley National Bancorp is 0.44, with the dividend yield indicating at 5.86 percent, continuing the trend of increasing dividends in recent years.
Valley National Bancorp (NASDAQ:VLY)’s Major holders
Valley National Bancorp insiders own 1.48% of total outstanding shares while institutional holders control 76.18%, with the float percentage being 77.32%. Blackrock Inc. is the largest shareholder of the company, while 436 institutions own stock in it. As of Jun 29, 2023, the company held over 63.32 million shares (or 19.07% of all shares), a total value of $490.72 million in shares.
The next largest institutional holding, with 45.07 million shares, is of Vanguard Group Inc’s that is approximately 13.58% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $349.29 million.
Also, the Mutual Funds coming in first place with the largest holdings of Valley National Bancorp (VLY) shares are Undiscovered Managers Behavioral Value Fund and Vanguard Total Stock Market Index Fund. Data provided on Jun 29, 2023 indicates that Undiscovered Managers Behavioral Value Fund owns about 14.29 million shares. This amounts to just over 4.31 percent of the company’s overall shares, with a $110.76 million market value. The same data shows that the other fund manager holds slightly less at 13.4 million, or about 4.04% of the stock, which is worth about $103.86 million.
