Citigroup slashes price target on Valley National Bancorp [VLY] – find out why.

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Valley National Bancorp [NASDAQ: VLY] closed the trading session at $12.22 on 04/27/22. The day’s price range saw the stock hit a low of $11.99, while the highest price level was $12.33. The company report on April 26, 2022 that Valley National Bancorp Announces Adoption of Share Repurchase Program.

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Valley National Bancorp (NASDAQ:VLY) (“Valley”) today announced that its Board approved a stock repurchase program for up to 25 million shares of Valley common stock. The authorization to repurchase will expire on April 25, 2024. The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities. Valley’s Board also terminated its 2007 stock repurchase program.

Under the repurchase program, repurchases can be made from time to time using a variety of methods, including open market purchases, all in compliance with the rules of the United States Securities and Exchange Commission and other applicable legal requirements. The repurchase program does not obligate Valley to acquire any particular amount of shares, and the repurchase program may be suspended or discontinued at any time at Valley’s discretion.

The stocks have a year to date performance of -11.13 percent and weekly performance of -5.12 percent. The stock has been moved at -12.02 percent over the last six months. The stock has performed -9.14 percent around the most recent 30 days and changed -15.72 percent over the most recent 3-months.

If compared to the average trading volume of 2.48M shares, VLY reached to a volume of 3566396 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Valley National Bancorp [VLY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VLY shares is $15.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VLY stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Valley National Bancorp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 24, 2021. The new note on the price target was released on September 17, 2021, representing the official price target for Valley National Bancorp stock.

The Average True Range (ATR) for Valley National Bancorp is set at 0.35, with the Price to Sales ratio for VLY stock in the period of the last 12 months amounting to 4.80. The Price to Book ratio for the last quarter was 1.03, with the Price to Cash per share for the same quarter was set at 3.98. Price to Free Cash Flow for VLY in the course of the last twelve months was 10.37.

VLY stock trade performance evaluation

Valley National Bancorp [VLY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.12. With this latest performance, VLY shares dropped by -9.14% in over the last four-week period, additionally sinking by -12.02% over the last 6 months – not to mention a drop of -12.65% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VLY stock in for the last two-week period is set at 39.56, with the RSI for the last a single of trading hit 39.00, and the three-weeks RSI is set at 40.47 for Valley National Bancorp [VLY]. The present Moving Average for the last 50 days of trading for this stock 13.22, while it was recorded at 12.37 for the last single week of trading, and 13.49 for the last 200 days.

Valley National Bancorp [VLY]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Valley National Bancorp [VLY] shares currently have an operating margin of +44.03. Valley National Bancorp’s Net Margin is presently recorded at +31.65.

Return on Equity for this stock inclined to 9.79, with Return on Assets sitting at 1.12.

Earnings per share (EPS) analysis for Valley National Bancorp [VLY] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for VLY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Valley National Bancorp go to 5.00%.

Valley National Bancorp [VLY]: Insider Ownership positions

There are presently around $3,136 million, or 52.50% of VLY stock, in the hands of institutional investors. The top three institutional holders of VLY stocks are: BLACKROCK INC. with ownership of 55,059,207, which is approximately 1.514% of the company’s market cap and around 14.60% of the total institutional ownership; VANGUARD GROUP INC, holding 40,093,707 shares of the stock with an approximate value of $481.52 million in VLY stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $266.69 million in VLY stock with ownership of nearly -2.428% of the company’s market capitalization.

155 institutional holders increased their position in Valley National Bancorp [NASDAQ:VLY] by around 9,856,598 shares. Additionally, 134 investors decreased positions by around 9,607,651 shares, while 77 investors held positions by with 241,644,775 shares. The mentioned changes placed institutional holdings at 261,109,024 shares, according to the latest SEC report filing. VLY stock had 49 new institutional investments in for a total of 1,466,129 shares, while 32 institutional investors sold positions of 2,247,808 shares during the same period.