In yesterday’s Wall Street session, Valley National Bancorp (NASDAQ:VLY) shares traded at $6.69, down -2.76% from the previous session.
10 analysts cover Valley National Bancorp (NASDAQ:VLY), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $13.00 and a low of $8.00, we find $11.00. Given the previous closing price of $6.88, this indicates a potential upside of 59.88 percent. VLY stock price is now -23.71% away from the 50-day moving average and -39.28% away from the 200-day moving average. The market capitalization of the company currently stands at $3.43B.
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The stock has received a hold rating from 4 analysts and a buy rating from 6. Brokers who have rated the stock have averaged $10.65 as their price target over the next twelve months.
On December 21, 2022, Raymond James recently initiated its ‘Strong Buy’ rating on the stock quoting a target price of $14, while ‘Morgan Stanley’ rates the stock as ‘Equal-Weight’.
In other news, MENDELSON AVNER, Director bought 2,611 shares of the company’s stock on May 12. The stock was bought for $40,529 at an average price of $15.52. Upon completion of the transaction, the Director now directly owns 134,126 shares in the company, valued at $0.9 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 08, Director Baum Peter J bought 2,500 shares of the business’s stock. A total of $43,625 was incurred on buying the stock at an average price of $17.45. This leaves the insider owning 2,500 shares of the company worth $16725.0. Insiders disposed of 316,230 shares of company stock worth roughly $2.12 million over the past 1 year. A total of 1.42% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in VLY stock. A new stake in Valley National Bancorp shares was purchased by LEEWARD INVESTMENTS, LLC – MA during the first quarter worth $9,940,000. BASSWOOD PARTNERS, L.L.C. invested $6,432,000 in shares of VLY during the first quarter. In the first quarter, EJF CAPITAL LLC acquired a new stake in Valley National Bancorp valued at approximately $2,630,000. JANE STREET GROUP, LLC acquired a new stake in VLY for approximately $2,161,000. MONARCH PARTNERS ASSET MANAGEMENT LLC purchased a new stake in VLY valued at around $1,421,000 in the second quarter. In total, there are 450 active investors with 70.60% ownership of the company’s stock.
On Tuesday morning Valley National Bancorp (NASDAQ: VLY) stock kicked off with the opening price of $6.92. During the past 12 months, Valley National Bancorp has had a low of $6.39 and a high of $13.07. The fifty day moving average price for VLY is $8.68 and a two-hundred day moving average price translates $10.99 for the stock.
The latest earnings results from Valley National Bancorp (NASDAQ: VLY) was released for Mar, 2023. According to the Banks – Regional Company, earnings per share came in at $0.3, missing analysts’ expectations of $0.33 by -0.03. This compares to $0.27 EPS in the same period last year. The net profit margin was 24.80% and return on equity was 9.50% for VLY. The company reported revenue of $720.23 million for the quarter, compared to $340.46 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 111.55 percent. For the current quarter, analysts expect VLY to generate $511.89M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/03/2023. Investors who held shares on 03/15/2023 were paid a $0.11 dividend. On an annualized basis, this represents a $0.44 dividend and a 6.58% percent yield. There was an ex-dividend date of 03/14/2023 for this dividend. In terms of dividend payout ratio, VLY is presently at 38.10%.
