On December 03, 2019, Valley National Bancorp (NASDAQ:VLY) shares lost -1.51% or -0.17 points to close at $11.11 with a heavy trading volume of 6.166 million shares. It opened the trading session at $11.19, the shares rose to $11.21 and dropped to $10.98, the range by which the price of stock traded the whole day. The company now has a market cap of $3.75 billion and currently has 337.82 million outstanding shares. Valley National Bancorp (VLY) stock has plunged -5.37 percent of market value in 21 trading days.
VLY stock’s trailing 3-year beta is 1.27, meaning there will be a greater rate of return, although posing a higher risk. The part of a firm’s profit given to each outstanding share of regular stock was $1 share in the trailing 52 weeks. The stock’s value surged 25.11 percent year to date (YTD) compared to a rise of 2.68 percent in 52 week’s period. The firm’s shares are still trading -8.48 percent below its 1-year high of $12.14 and 31.95 percent up from 52-week low of $8.42. The average consensus ranking on the company is 2.4, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a sell.
Valley National Bancorp (VLY) is most likely going to rise 13.05 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $14-month high price target. This represents a whopping 26.01 percent increase from the current trading of shares. The 52-week median price target given by the analysts is $13, which means a return possibility of 17.01 percent in comparison with the closing price of the stock of $11.11 on December 03. The lowest price set for the stock is $11 — just above -0.99 percent from VLY share price now.
Past records have indicated that shares in Valley National Bancorp declined on 24 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings. Investors will get the next hint of VLY’s Q4 earnings on February 03. Analysts are predicting revenue to climb 2.1 percent to $262M in the financial fourth quarter, while EPS will soar by about 9.52 percent to $0.23 per share. In the last quarter, it earnings of $0.24 per share came better than the $0.22762, adjusted, expected by Thomson Reuters consensus estimate. Revenue for the quarter was $261.78M, topping the $252.99M analysts had expected. Earnings are seen to rise by 16.9 percent this year, 8.21 percent in the coming year and the trend continues by 5 percent every year in the next 5 years.
Let’s take a glimpse at some insider activity at Valley National Bancorp (NASDAQ:VLY) and observe the pattern. The earliest insider trade happened on 09/13/2019. LIPKIN GERALD H parted with a total of 16 thousand shares of the firm at average share price of $11.22. The total amount for the sale was set at $179.52 thousand. On completing this exchange, the Director account balance was 9.85 thousand shares. The stock grew 0.53 percent from that insider sale. On 03/14/2019, KORDE GERALD, Director, did a sale of 3.1 thousand shares at a price of $10.19 per share. This got rid of 31.59 thousand shares from the insider’s fortune and the stock experienced a 10.7 percent rally in price since the news became public. This exchange saw 1.67 million shares get out from the Director account.
On 12/14/2018, Director LARUSSO MICHAEL L recorded a sale transaction valued at $28.89 thousand. The sale at $9.32 a share has eliminated 3.1 thousand shares from the insider’s portfolio position. Meanwhile, shares price witnessed 21.03 percent increase since the transaction reporting date. The company insider is left with 30.98 thousand shares remaining in the account. KORDE GERALD, who works as Director at the company, performed a sale of 3 thousand shares in a transaction worth $30.09 thousand. The disposal recorded on 11/13/2018 was priced at $10.03 per share. The stock price soared 12.46 percent since the transaction. KORDE GERALD currently holds a stake of 1.67 million in VLY stock which is worth $18.57 million after the insider selling.
The stock is lingering around the initial support level of $10.99. After this, the following support is at the zone of $10.87. Up until the time the VLY stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 31.79 on the daily chart, and this may be a cause for comfort. In case the price goes below $10.87 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $11.22 level may cause a pull-back move approaching $11.33 mark.
Valley National Bancorp (VLY) shares are trading at a P/E ratio of 11 times earnings posted in the trailing 12 months. The industry VLY deals with has an average P/E of 11.3. Its P/B ratio is standing at 1.3X compared to the 1.3 industry average. It is additionally sporting a 3.4 on the Price-to-Sales ratio, compared to the industry’s P/S average of 2.5.