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

Valley National Bancorp [NASDAQ: VLY] surged by $0.54 during the normal trading session on Thursday and reaching a high of $11.71 during the day while it closed the day at $11.59. The company report on October 6, 2022 that Valley Bank Releases 2021 Corporate Social Responsibility Report.


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Highlights $3.13 Billion Investment.

Valley National Bancorp (NASDAQ: VLY), the holding company for Valley National Bank, released Progressing with Purpose, the Bank’s 2021 Corporate Social Responsibility (CSR) Report that highlights the Bank’s commitment to helping build stronger communities and to advance its mission to raise awareness of community and social impact. In 2021, Valley invested more than $3 Billion to support communities and organizations in New York, New Jersey, Florida and Alabama. To view the full report, click here or visit www.valley.com/CSR2021.

Valley National Bancorp stock has also gained 0.70% of its value over the past 7 days. However, VLY stock has inclined by 10.91% in the 3 months of the year. Over the past six months meanwhile, it has lost -7.13% and lost -15.71% year-on date.

The market cap for VLY stock reached $6.05 billion, with 506.30 million shares outstanding and 499.29 million shares in the current float. Compared to the average trading volume of 1.87M shares, VLY reached a trading volume of 3619134 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 $14.30 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 2.00. 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.

Janney have made an estimate for Valley National Bancorp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 04, 2022. While these analysts kept the previous recommendation, Citigroup raised their target price from $12 to $14. The new note on the price target was released on September 24, 2021, representing the official price target for Valley National Bancorp stock.

The Average True Range (ATR) for Valley National Bancorp is set at 0.38, with the Price to Sales ratio for VLY stock in the period of the last 12 months amounting to 4.14. The Price to Book ratio for the last quarter was 0.98, with the Price to Cash per share for the same quarter was set at 2.66. Price to Free Cash Flow for VLY in the course of the last twelve months was 6.41.

VLY stock trade performance evaluation

Valley National Bancorp [VLY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.70. With this latest performance, VLY shares dropped by -0.69% in over the last four-week period, additionally sinking by -7.13% over the last 6 months – not to mention a drop of -14.84% 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 53.26, with the RSI for the last a single of trading hit 57.78, and the three-weeks RSI is set at 51.41 for Valley National Bancorp [VLY]. The present Moving Average for the last 50 days of trading for this stock 11.78, while it was recorded at 11.22 for the last single week of trading, and 12.41 for the last 200 days.

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 $3,259 million, or 70.50% of VLY stock, in the hands of institutional investors. The top three institutional holders of VLY stocks are: BLACKROCK INC. with ownership of 60,164,430, which is approximately 3.845% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 43,199,529 shares of the stock with an approximate value of $500.68 million in VLY stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $234.38 million in VLY stock with ownership of nearly -9.816% of the company’s market capitalization.

183 institutional holders increased their position in Valley National Bancorp [NASDAQ:VLY] by around 20,025,723 shares. Additionally, 113 investors decreased positions by around 11,075,879 shares, while 82 investors held positions by with 250,123,919 shares. The mentioned changes placed institutional holdings at 281,225,521 shares, according to the latest SEC report filing. VLY stock had 64 new institutional investments in for a total of 7,021,144 shares, while 27 institutional investors sold positions of 1,384,570 shares during the same period.

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