That’s why I Feel Comfortable With Valley National Bancorp’s (VLY) Future

As of right now, Valley National Bancorp [VLY] is trading at $9.93, up 1.95%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The VLY shares have lost -2.17% over the last week, with a monthly amount drifted -19.53%, and not seem to be holding up well over a long-time horizon.

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On 3, March 2023, Valley National Bancorp Declares Its Regular Quarterly Preferred and Common Stock Dividends. In a post published today on Yahoo Finance, Valley National Bancorp (NASDAQ:VLY) (“Valley”), the holding company for Valley National Bank, announced today its regular preferred and common dividends.The declared quarterly dividends to shareholders of record on March 15, 2023 are as follows:.

From an analyst’s perspective:

Valley National Bancorp [NASDAQ: VLY] stock has seen the most recent analyst activity on December 21, 2022, when Raymond James initiated its Strong Buy rating and assigned the stock a price target of $14. Previously, Morgan Stanley started tracking the stock with Equal-Weight rating on December 05, 2022, and set its price target to $14. On August 04, 2022, Janney initiated with a Buy rating. Citigroup upgraded its rating to a Neutral and increased its price target to $14 on September 24, 2021. Hovde Group upgraded its rating to a Outperform. Hovde Group downgraded its rating to Market Perform for this stock on April 07, 2021.

Through the last year, Valley National Bancorp’s stock price ranged from $8.86 to $13.92. Currently, Wall Street analysts expect the stock to reach $13.45 within the next 12 months. Valley National Bancorp [NASDAQ: VLY] shares were valued at $9.93 at the most recent close of the market. An investor can expect a potential return of 35.45% based on the average VLY price forecast.

Analyzing the VLY fundamentals

For Valley National Bancorp, (VLY), the latest quarter sales were 646.55 billion, which represents an 90.20% increase.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 9.47 points at the first support level, and at 9.00 for the second support level. However, for the 1st resistance point, the stock is sitting at 10.38, and for the 2nd resistance point, it is at 10.82.

Valley National Bancorp [VLY] reported earnings per share of $0.35 for its fiscal quarter that ended on 12/30/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.36/share, meaning a difference of -$0.01 and a surprise factor of -2.80%. By comparison, the stated earnings for the previous quarter ended on 9/29/2022 were $0.35 per share as compared to estimates of $0.34 per share, a difference of $0.01 representing a surprise of 2.90%.

Ratios To Look Out For

Considering the valuation of this stock, the price to sales ratio is 2.52, the price to book ratio is 0.93 and the P/E (TTM) ratio is 8.73.

Transactions by insiders

In the past 3 months, 11 insiders have purchased 531,221 shares, and 27 have sold 260,133 shares. Recent insider trading involved Robbins Ira, Chief Executive Officer, that happened on Mar 15 when 5000.0 shares were purchased. Director, Steans Jennifer W completed a deal on Mar 14 to buy 50000.0 shares. Meanwhile, Director EDELSTEIN ERIC P bought 20000.0 shares on Mar 14.