Valley National Bancorp (NASDAQ:VLY) shares, rose in value on Friday, March 15, with the stock price up by 0.93% to the previous day’s close as strong demand from buyers drove the stock to $7.58.
Actively observing the price movement in the recent trading, the stock is buoying the session at $7.51. The value of beta (5-year monthly) is 1.11 whereas the PE ratio is 8.00 over 12-month period. Referring to stock’s 52-week performance, its high was $11.22, and the low was $6.39. On the whole, VLY has fluctuated by -9.22% over the past month.
With the market capitalization of Valley National Bancorp currently standing at about $3.86 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 25, 2024 – Apr 29, 2024. The company’s Forward Dividend Ratio is 0.44, with its dividend yield at 5.80%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.21, which is expected to increase to $0.25 for fiscal year $0.99 and then to about $1.2 by fiscal year 2025. Data indicates that the EPS growth is expected to be -6.60% in 2025, while the next year’s EPS growth is forecast to be 21.20%.
Analysts have estimated the company’s revenue for the quarter at $459.6 million, with a low estimate of $452.9 million and a high estimate of $483.77 million. According to the average forecast, sales growth in current quarter could jump down -11.70%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $1.95 billion, representing an increase of 3.00% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that VLY’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 1.60, with the price of VLY currently trading nearly -6.77% and -16.79% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 37.53, while the 7-day volatility ratio is showing 4.73% which for the 30-day chart, stands at 4.86%. Furthermore, Valley National Bancorp (VLY)’s beta value is 1.11, and its average true range (ATR) is 0.44.
A comparison of Valley National Bancorp (VLY) with its peers suggests the former has fared considerably weaker in the market. VLY showed an intraday change of 0.93% in today’s session so far, and over the past year, it shrunk by -22.18%%.
Data on historical trading for Valley National Bancorp (NASDAQ:VLY) indicates that the trading volumes over the past 10 days have averaged 9.88 million and over the past 3 months, they’ve averaged 6.10 million. According to company’s latest data on outstanding shares, there are 507.71 million shares outstanding.
Nearly 15.88% of Valley National Bancorp’s shares belong to company insiders and institutional investors own 61.50% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 33.81 million shares as on Feb 29, 2024, resulting in a short ratio of 4.37. According to the data, the short interest in Valley National Bancorp (VLY) stood at 6.64% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 23.0 million. The stock has fallen by -30.20% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the VLY stock heading into the next quarter.
