Valley National Bancorp [NASDAQ: VLY] plunged by -$0.31 during the normal trading session on Thursday and reaching a high of $12.34 during the day while it closed the day at $12.14. The company report on April 28, 2022 that Valley National Bancorp Reports Strong Organic Loan Growth and Solid Net Interest Income and Margin.
Valley National Bancorp (NASDAQ:VLY), the holding company for Valley National Bank, today reported net income for the first quarter 2022 of $116.7 million, or $0.27 per diluted common share, as compared to the first quarter 2021 earnings of $115.7 million, or $0.28 per diluted common share, and net income of $115.0 million, or $0.27 per diluted common share, for the fourth quarter 2021. Excluding non-core charges, our adjusted net income (a non-GAAP measure) was $120.3 million, or $0.28 per diluted common share, for the first quarter 2022, $115.8 million, or $0.28 per diluted common share, for first quarter 2021, and $120.5 million, or $0.28 per diluted common share, for the fourth quarter 2021. See further details below, including a reconciliation of our adjusted net income in the “Consolidated Financial Highlights” tables.
Valley National Bancorp stock has also loss -1.78% of its value over the past 7 days. However, VLY stock has declined by -12.09% in the 3 months of the year. Over the past six months meanwhile, it has lost -14.39% and lost -11.71% year-on date.
The market cap for VLY stock reached $6.34 billion, with 411.82 million shares outstanding and 399.24 million shares in the current float. Compared to the average trading volume of 2.45M shares, VLY reached a trading volume of 3889612 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 $15.56 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 0.37, with the Price to Sales ratio for VLY stock in the period of the last 12 months amounting to 4.72. 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 4.00. Price to Free Cash Flow for VLY in the course of the last twelve months was 11.51.
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 -1.78. With this latest performance, VLY shares dropped by -3.80% in over the last four-week period, additionally sinking by -14.39% over the last 6 months – not to mention a drop of -16.56% 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 42.78, with the RSI for the last a single of trading hit 43.74, and the three-weeks RSI is set at 42.57 for Valley National Bancorp [VLY]. The present Moving Average for the last 50 days of trading for this stock 12.97, while it was recorded at 12.13 for the last single week of trading, and 13.47 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 $3,250 million, or 52.60% 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 $499.17 million in VLY stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $276.46 million in VLY stock with ownership of nearly -2.428% of the company’s market capitalization.
Positions in Valley National Bancorp stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 152 institutional holders increased their position in Valley National Bancorp [NASDAQ:VLY] by around 9,839,248 shares. Additionally, 132 investors decreased positions by around 9,647,445 shares, while 85 investors held positions by with 241,546,225 shares. The mentioned changes placed institutional holdings at 261,032,918 shares, according to the latest SEC report filing. VLY stock had 47 new institutional investments in for a total of 1,458,491 shares, while 33 institutional investors sold positions of 2,276,818 shares during the same period.