In recent trading session, Valley National Bancorp (NASDAQ:VLY) saw 0.9 million shares changing hands at last check today with its beta currently measuring 1.10. Company’s recent per share price level of $8.25 trading at $0.24 or 3.05% at last check today assigns it a market valuation of $4.20B. That most recent trading price of VLY’s stock is at a discount of -36.0% from its 52-week high price of $11.22 and is indicating a premium of 21.58% from its 52-week low price of $6.47. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 6.57 million shares which gives us an average trading volume of 5.89 million if we extend that period to 3-months.
For Valley National Bancorp (VLY), analysts’ consensus is at an average recommendation of Hold while assigning it a mean rating of 2.64. Splitting up the data highlights that, out of 3 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 2 suggested the stock as a Hold whereas 1 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of 0.18 in the current quarter.
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Valley National Bancorp (NASDAQ:VLY) trade information
Upright in the green today for gaining 3.05%, in the last five days VLY remained trading in the green while hitting it’s week-highest on Thursday, 08/15/24 when the stock touched $8.25 price level, adding 0.96% to its value on the day. Valley National Bancorp’s shares saw a change of -23.99% in year-to-date performance and have moved 3.31% in past 5-day. Valley National Bancorp (NASDAQ:VLY) showed a performance of 2.42% in past 30-days. Number of shares sold short was 45.58 million shares which calculate 6.73 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 12 to the stock, which implies a rise of 31.25% to its recent value today. Analysts have been projecting 9 as a low price target for the stock while placing it at a high target of 14. It follows that stock’s current price would drop -9.09% in reaching the projected high whereas dropping to the targeted low would mean a loss of -9.09% for stock’s current value.
Valley National Bancorp (VLY) estimates and forecasts
Statistics highlight that Valley National Bancorp is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -1.14% of value to its shares in past 6 months, showing an annual growth rate of -33.96% while that of industry is -8.40. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. This year revenue growth is estimated to fall -1.90% from the last financial year’s standing.
7 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of 469.52M for the same. And 7 analysts are in estimates of company making revenue of 479.13M in the next quarter. Company posted 472.18M and 449.97M of sales in current and next quarters respectively a year earlier.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 4.85% during past 5 years. In 2024, company’s earnings growth rate is likely to be around -34.04% while estimates for its earnings growth in next 5 years are of 5.00%.
VLY Dividends
Valley National Bancorp is more likely to be releasing its next quarterly report on 2024-Oct-24 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt. With an annual yield of 5.33%, the share has a forward dividend of 0.44 which implies that company’s dividend yield remained growing in trailing twelve months while having a 5 year average dividend yield of 4.42%.
Valley National Bancorp (NASDAQ:VLY)’s Major holders
Insiders are in possession of 1.49% of company’s total shares while institution are holding 81.10 percent of that, with stock having share float percentage of 82.33%. Investors also watch the number of corporate investors in a company very closely, which is 81.10% institutions for Valley National Bancorp that are currently holding shares of the company. BLACKROCK INC. is the top institutional holder at VLY for having 68.12 million shares of worth $542.2 million. And as of 2024-03-31, it was holding 13.3997 of the company’s outstanding shares.
The second largest institutional holder is VANGUARD GROUP INC, which was holding about 45.52 million shares on 2024-03-31. The number of shares represents firm’s hold over 8.9544 of outstanding shares, having a total worth of $362.33 million.
On the other hand, Undiscovered Managers Behavioral Value Fund and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Mar 31, 2024, the former fund manager was holding 13.58 shares of worth $112.51 million or 4.09% of the total outstanding shares. The later fund manager was in possession of 13.58 shares on Mar 31, 2024, making its stake of worth around $112.53 million in the company or a holder of 4.09% of company’s stock.
