Valley National Bancorp [NASDAQ: VLY] jumped around 0.23 points on Tuesday, while shares priced at $8.00 at the close of the session, up 2.96%. The company report on April 9, 2024 at 8:00 AM that The Present and Future of Proptech: Charting a Clearer Path in Murky Markets.
Valley Bank (NASDAQ: VLY) released its third annual The Present and Future of Proptech report that examines the key macro factors shaping Proptech on the economic, demographic and market fronts as part of the backdrop to private investment trends. The report was developed in collaboration with Pitchbook, Chris Green, Founder and CEO of GreenPoint Partners and Zak Schwarzman, General Partner, MetaProp.
The majority of 2023 industry-wide investment in Proptech – 70 percent – was in venture capital with 144 deals closed for a combined value of $2.9 billion. This was a sharp decline from 2022 as the pace of deal making in Proptech was impacted by the general slowdown in most other asset classes.
Compared to the average trading volume of 6.53M shares, VLY reached a trading volume of 4638960 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $10.08 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 2.38. 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.
Barclays have made an estimate for Valley National Bancorp shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on March 08, 2024. While these analysts kept the previous recommendation, Citigroup raised their target price to Neutral. The new note on the price target was released on December 01, 2023, representing the official price target for Valley National Bancorp stock. Previously, the target price had yet another drop from $11 to $10, while JP Morgan kept a Neutral rating on VLY stock. On September 27, 2023, analysts increased their price target for VLY shares from 8 to 8.50.
The Average True Range (ATR) for Valley National Bancorp is set at 0.34, with the Price to Sales ratio for VLY stock in the period of the last 12 months amounting to 1.21. The Price to Book ratio for the last quarter was 0.63. Price to Free Cash Flow for VLY in the course of the last twelve months was 13.95.
How has VLY stock performed recently?
Valley National Bancorp [VLY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.12. With this latest performance, VLY shares gained by 0.50% in over the last four-week period, additionally sinking by -1.11% over the last 6 months – not to mention a drop of -5.33% 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 52.13, with the RSI for the last a single of trading hit 58.09, and the three-weeks RSI is set at 48.82 for Valley National Bancorp [VLY]. The present Moving Average for the last 50 days of trading for this stock 8.19, while it was recorded at 7.68 for the last single week of trading, and 8.90 for the last 200 days.
Valley National Bancorp [VLY]: Deeper insight into the fundamentals
Valley National Bancorp’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.09.
Earnings analysis for Valley National Bancorp [VLY]
With the latest financial reports released by the company, Valley National Bancorp posted 0.3/share EPS, while the average EPS was predicted by analysts to be reported at 0.33/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -9.10%. 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%.
Insider trade positions for Valley National Bancorp [VLY]
The top three institutional holders of VLY stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in VLY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in VLY stock with ownership which is approximately 5.8386%.
