Valley National Bancorp (VLY) Analysis & Forecast for July 2020

Valley National Bancorp (NASDAQ: VLY) is -37.47% lower on its value in year-to-date trading and has touched a low of $6.00 and a high of $12.14 in the current 52-week trading range. The VLY stock was last observed hovering at around $7.16 in the recent trading session, with the current loss setting it -0.32% off its average median price target of $10.00 for the next 12 months. It is also 37.82% off the consensus price target high of $11.00 offered by 10 analysts, but current levels are 2.29% higher than the price target low of $7.00 for the same period.

At last check, trading at $6.84, the stock is -11.36% and -12.72% below its SMA20 and SMA50 respectively. However, with a current trading volume of 0.45 million and changing -4.47% at the moment leaves the stock -29.06% off its SMA200. VLY registered -33.77% loss for a year compared to 6-month loss of -35.32%. The firm has a 50-day simple moving average (SMA 50) of $7.98 and a 200-day simple moving average (SMA200) of $8.79.

The stock witnessed a -25.42% gain in the last 1 month and extending the period to 3 months gives it a 0.00%, and is -8.44% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.87% over the week and 5.17% over the month.

Valley National Bancorp (VLY) has around 3174 employees, a market worth around $2.93B and $1.36B in sales. Current P/E ratio is 9.42 and Fwd P/E is 8.16. Profit margin for the company is 19.90%. Distance from 52-week low is 14.00% and -43.66% from its 52-week high. The company has generated returns on investments over the last 12 months (14.90%).

Valley National Bancorp (VLY) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Valley National Bancorp (VLY) is a “Overweight”. 10 analysts offering their recommendations for the stock have an average rating of 2.40, where 3 rate it as a Hold and 0 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Valley National Bancorp is expected to release its quarterly report on 07/23/2020 and quarterly earnings per share for the current quarter are estimated at $0.21 with sales reaching $306.35M over the same period.The EPS is expected to grow by 17.90% this year, but quarterly earnings will post 12.00% year-over-year. Quarterly sales are estimated to grow 21.90% in year-over-year returns.

Valley National Bancorp (VLY) Top Institutional Holders

400 institutions hold shares in Valley National Bancorp (VLY), with 9.19M shares held by insiders accounting for 2.28% while institutional investors hold 62.04% of the company’s shares. The shares outstanding are 403.52M, and float is at 394.27M with Short Float at 2.94%. Institutions hold 60.63% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 52.67 million shares valued at $385.03 million. The investor’s holdings represent 15.87% of the VLY Shares outstanding. As of Mar 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 38.4 million shares valued at $280.71 million to account for 11.57% of the shares outstanding. The other top investors are Dimensional Fund Advisors LP which holds 22.29 million shares representing 6.72% and valued at over $162.97 million, while State Street Corporation holds 4.49% of the shares totaling 14.92 million with a market value of $109.03 million.

Valley National Bancorp (VLY) Insider Activity

A total of 67 insider transactions have happened at Valley National Bancorp (VLY) in the last six months, with sales accounting for 35 and purchases happening 32 times. The most recent transaction is an insider purchase by Lynch Kevin J, the company’s Director. SEC filings show that Lynch Kevin J bought 6,350 shares of the company’s common stock on Jun 09 at a price of $9.47 per share for a total of $60131.0. Following the purchase, the insider now owns 1.5 million shares.

Valley National Bancorp disclosed in a document filed with the SEC on Jun 05 that CHILLURA JOSEPH (SEVP, Chief Ret & Busn Bnkg Of) sold a total of 45,972 shares of the company’s common stock. The trade occurred on Jun 05 and was made at $9.34 per share for $0.43 million. Following the transaction, the insider now directly holds 0.65 million shares of the VLY stock.

Still, SEC filings show that on Jun 04, CHILLURA JOSEPH (SEVP, Chief Ret & Busn Bnkg Of) disposed off 53,875 shares at an average price of $8.68 for $0.47 million. The insider now directly holds 695,807 shares of Valley National Bancorp (VLY).

Valley National Bancorp (VLY): Who are the competitors?

The company’s main competitors (and peers) include Peapack-Gladstone Financial Corporation (PGC) that is trading -40.09% down over the past 12 months. Short interest in the company’s stock has fallen -7.85% from the last report on May 14, 2020 to stand at a total of 12.5 million short shares sold with a short interest ratio of 4.57.