Valley National Bancorp (NASDAQ:VLY) has a beta value of 1.10 and has seen 1.04 million shares traded in the recent trading session. The company, currently valued at $4.80B, closed the recent trade at $9.43 per share which meant it gained $0.22 on the day or 2.33% during that session. The VLY stock price is -18.98% off its 52-week high price of $11.22 and 31.39% above the 52-week low of $6.47. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.08 million shares traded. The 3-month trading volume is 6.20 million shares.
The consensus among analysts is that Valley National Bancorp (VLY) is Hold stock at the moment, with a recommendation rating of 2.64. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 2 out of 3 have rated it as a Hold, with 1 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 0.18.
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Valley National Bancorp (NASDAQ:VLY) trade information
Over the past 30 days, the shares of Valley National Bancorp (NASDAQ:VLY) have changed 8.08%. Short interest in the company has seen 37.03 million shares shorted with days to cover at 5.55.
Wall Street analysts have a consensus price target for the stock at $11, which means that the shares’ value could jump 14.27% from the levels at last check today. The projected low price target is $9.0 while the price target rests at a high of $14.0. In that case, then, we find that the latest price level in today’s session is -48.46% off the targeted high while a plunge would see the stock lose 4.56% from the levels at last check today.
Valley National Bancorp (VLY) estimates and forecasts
Figures show that Valley National Bancorp shares have underperformed across the wider relevant industry. The company’s shares have gained 30.90% over the past 6 months, with this year growth rate of -33.96%, compared to -5.90% for the industry. Revenue growth from the last financial year stood is estimated to be -2.00%.
7 analysts offering their estimates for the company have set an average revenue estimate of 467.98M for the current quarter. 7 have an estimated revenue figure of 478.68M for the next ending quarter. Year-ago sales stood 472.18M and 449.97M respectively for this quarter and the next, and analysts expect sales will shrink by -0.90% for the current quarter and -2.00% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 4.85% over the past 5 years. Earnings growth for 2024 is a modest -35.09% while over the next 5 years, the company’s earnings are expected to increase by 5.00%.
VLY Dividends
Valley National Bancorp is expected to release its next earnings report on 2024-Oct-24 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.44 at a share yield of 4.67%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 4.45%.
Valley National Bancorp (NASDAQ:VLY)’s Major holders
Insiders own 1.49% of the company shares, while shares held by institutions stand at 81.27% with a share float percentage of 82.50%. Investors are also buoyed by the number of investors in a company, with Valley National Bancorp having a total of 446.0 institutions that hold shares in the company. The top two institutional holders are BLACKROCK INC. with over 71.14 million shares worth more than $496.55 million. As of 2024-06-30, BLACKROCK INC. held 13.9943% of shares outstanding.
The other major institutional holder is VANGUARD GROUP INC, with the holding of over 45.55 million shares as of 2024-06-30. The firm’s total holdings are worth over $317.93 million and represent 8.9604% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Undiscovered Managers Behavioral Value Fund. As of Jun 30, 2024, the former fund manager holds about 4.17% shares in the company for having 13.84 shares of worth $129.71 million while later fund manager owns 13.58 shares of worth $127.24 million as of Jun 30, 2024, which makes it owner of about 4.09% of company’s outstanding stock.
