Are we looking at the next cheap bargain in Valley National Bancorp (VLY)?

Valley National Bancorp (NASDAQ: VLY) is 8.72% higher on its value in year-to-date trading and has touched a low of $6.00 and a high of $11.52 in the current 52-week trading range. The VLY stock was last observed hovering at around $9.83 in the last trading session, with the day’s gains setting it 0.77% off its average median price target of $11.13 for the next 12 months. It is also 11.67% off the consensus price target high of $12.00 offered by 10 analysts, but current levels are -17.78% lower than the price target low of $9.00 for the same period.

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Currently trading at $10.60, the stock is 8.67% and 16.16% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.34 million and changing 7.83% at the moment leaves the stock 33.78% off its SMA200. VLY registered -4.25% loss for a year compared to 6-month gain of 48.04%. The firm has a 50-day simple moving average (SMA 50) of $9.63 and a 200-day simple moving average (SMA200) of $8.07.

The stock witnessed a 8.38% loss in the last 1 month and extending the period to 3 months gives it a 43.05%, and is 10.19% up 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 3.76% over the week and 2.86% over the month.

Valley National Bancorp (VLY) has around 3174 employees, a market worth around $4.25B and $1.39B in sales. Current P/E ratio is 13.62 and Fwd P/E is 10.82. Profit margin for the company is 22.30%. Distance from 52-week low is 76.67% and -7.99% 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 04/28/2021 and quarterly earnings per share for the current quarter are estimated at $0.25 with sales reaching $329.3M over the same period.The EPS is expected to grow by 17.90% this year, but quarterly earnings will post 16.10% year-over-year. Quarterly sales are estimated to grow 18.60% in year-over-year returns.

Valley National Bancorp (VLY) Top Institutional Holders

381 institutions hold shares in Valley National Bancorp (VLY), with 9.09M shares held by insiders accounting for 2.25% while institutional investors hold 62.03% of the company’s shares. The shares outstanding are 403.83M, and float is at 394.39M with Short Float at 1.71%. Institutions hold 60.63% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 50.71 million shares valued at $347.34 million. The investor’s holdings represent 15.27% of the VLY Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 35.38 million shares valued at $242.35 million to account for 10.66% of the shares outstanding. The other top investors are Dimensional Fund Advisors LP which holds 23.12 million shares representing 6.96% and valued at over $158.34 million, while Macquarie Group Limited holds 4.49% of the shares totaling 14.91 million with a market value of $102.12 million.

Valley National Bancorp (VLY) Insider Activity

A total of 4 insider transactions have happened at Valley National Bancorp (VLY) in the last six months, with sales accounting for 3 and purchases happening 1 times. The most recent transaction is an insider sale by JONES GRAHAM O, the company’s Director. SEC filings show that JONES GRAHAM O sold 5,775 shares of the company’s common stock on Dec 08 at a price of $9.67 per share for a total of $55870.0. Following the sale, the insider now owns 0.8 million shares.

Valley National Bancorp disclosed in a document filed with the SEC on Oct 30 that WILLIAMS SIDNEY S (Director) bought a total of 135 shares of the company’s common stock. The trade occurred on Oct 30 and was made at $7.59 per share for $1025.0. Following the transaction, the insider now directly holds 135.0 shares of the VLY stock.

Still, SEC filings show that on Jun 09, Lynch Kevin J (Director) acquired 6,350 shares at an average price of $9.47 for $60131.0. The insider now directly holds 1,495,797 shares of Valley National Bancorp (VLY).

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

The company’s main competitors (and peers) include Peapack-Gladstone Financial Corporation (PGC) that is trading -15.82% down over the past 12 months. Universal Electronics Inc. (UEIC) is 3.37% up on the 1-year trading charts. Short interest in the company’s stock has risen 12.28% from the last report on Nov 12, 2020 to stand at a total of 5.93 million short shares sold with a short interest ratio of 3.57.

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