Valley National Bancorp (VLY) concluded trading on Wednesday at a closing price of $7.90, with 6.14 million shares of worth about $48.52 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -6.84% during that period and on March 27, 2024 the price saw a gain of about 3.81%. Currently the company’s common shares owned by public are about 507.71M shares, out of which, 428.13M shares are available for trading.
Stock saw a price change of 1.67% in past 5 days and over the past one month there was a price change of -3.89%. Year-to-date (YTD), VLY shares are showing a performance of -27.26% which decreased to -15.60% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $6.39 but also hit the highest price of $11.22 during that period. The average intraday trading volume for Valley National Bancorp shares is 6.24 million. The stock is currently trading 0.68% above its 20-day simple moving average (SMA20), while that difference is down -8.80% for SMA50 and it goes to -11.47% lower than SMA200.
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Valley National Bancorp (NASDAQ: VLY) currently have 507.71M outstanding shares and institutions hold larger chunk of about 61.54% of that.
The stock has a current market capitalization of $4.02B and its 3Y-monthly beta is at 1.11. PE ratio of stock for trailing 12 months is 8.34, while it has posted earnings per share of $0.95 in the same period. Its PEG reads 1.67 while making debt-to-equity ratio of 0.55. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for VLY, volatility over the week remained 4.24% while standing at 5.23% over the month.
Analysts are in expectations that Valley National Bancorp (VLY) stock would likely to be making an EPS of $0.21 in the current quarter, while forecast for next quarter EPS is $0.23 and it is $1.2 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.18 which is $0.23 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.3 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -7.50% while it is estimated to increase by 21.72% in next year. EPS is likely to grow at an annualized rate of 5.00% for next 5-years, compared to annual growth of 4.85% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Barclays on March 08, 2024 offering an Underweight rating for the stock and assigned a target price of $8 to it. Coverage by Citigroup stated Valley National Bancorp (VLY) stock as a Neutral in their note to investors on December 01, 2023, suggesting a price target of $9.50 for the stock. On October 30, 2023, JP Morgan Downgrade their recommendations, while on September 27, 2023, Morgan Stanley Downgrade their ratings for the stock with a price target of $8.50. Stock get an Outperform rating from Hovde Group on September 05, 2023.
