Currently, Valley National Bancorp [VLY] is trading at $8.14, up 2.26%. 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 gain 7.53% over the last week, with a monthly amount drifted -1.27%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Valley National Bancorp [NASDAQ: VLY] stock has seen the most recent analyst activity on March 08, 2024, when Barclays initiated its Underweight rating and assigned the stock a price target of $8. Previously, Citigroup started tracking the stock with Neutral rating on December 01, 2023, and set its price target to $9.50. On October 30, 2023, downgrade downgraded it’s rating to Neutral and revised its price target to $10 on the stock. Morgan Stanley downgraded its rating to a Underweight and increased its price target to $8.50 on September 27, 2023. Hovde Group upgraded its rating to a Outperform but $11.50 remained the price target by the analyst firm on September 05, 2023. Hovde Group downgraded its rating to Market Perform for this stock on August 01, 2023, but kept the price target unchanged to $11. In a note dated July 28, 2023, Piper Sandler downgraded an Neutral rating on this stock and boosted its target price from $10 to $11.
This stock has fluctuated between a low of $6.39 and a high of $11.32 over the last 52 weeks. Currently, Wall Street analysts expect the stock to reach $11.88 within the next 12 months. Valley National Bancorp [NASDAQ: VLY] shares were valued at $8.14 at the most recent close of the market. An investor can expect a potential return of 45.95% based on the average VLY price forecast.
Analyzing the VLY fundamentals
Trailing Twelve Months sales for Valley National Bancorp [NASDAQ:VLY] were 3.36B which represents 24.55% growth. Gross Profit Margin for this corporation currently stands at 1.0% with Operating Profit Margin at 0.38%, Pretax Profit Margin comes in at 0.29%, and Net Profit Margin reading is 0.22%. To continue investigating profitability, this company’s Return on Assets is posted at 0.01, Equity is 0.08 and Total Capital is 0.02. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.5.
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 7.94 points at the first support level, and at 7.75 for the second support level. However, for the 1st resistance point, the stock is sitting at 8.30, and for the 2nd resistance point, it is at 8.47.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Valley National Bancorp [NASDAQ:VLY] is 0.09. Considering the valuation of this stock, the price to sales ratio is 1.23, the price to book ratio is 0.64 and price to earnings (TTM) ratio is 8.59.
Transactions by insiders
Recent insider trading involved WILLIAMS SIDNEY S, Director, that happened on Jan 29 ’24 when 673.0 shares were purchased. SEVP, Chief Customer Officer, CHILLURA JOSEPH completed a deal on Dec 08 ’23 to sell 50000.0 shares. Meanwhile, SEVP, Chief Customer Officer CHILLURA JOSEPH sold 100000.0 shares on Nov 14 ’23.
