Barclays has recently raised Valley National Bancorp (VLY) stock to Equal Weight rating, as announced on October 31, 2024, according to Finviz. Earlier, on August 5, 2024, Morgan Stanley had raised the stock rating, setting a price target of $9.50 for VLY stock. Keefe Bruyette also reduced Mkt Perform rating with a price target of $8. Additionally, Barclays initiated Underweight rating on March 8, 2024, with a target price of $8. Citigroup analysts, in their report published on December 1, 2023, also initiated Neutral rating and set a price target of $9.50 for Valley National Bancorp’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
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Valley National Bancorp (VLY) Stock Trading Recap
On Thursday, Valley National Bancorp (VLY) stock saw a decline, ending the day at $9.47 which represents a decrease of $-0.22 or -2.27% from the prior close of $9.69. The stock opened at $9.71 and touched a low of $9.4 during the day, reaching a high of $9.72. The volume of shares traded was 6.46 million exceeding the average volume of 5.65 million.
VLY Stock Performance and Moving Averages
In recent trading, Valley National Bancorp (VLY) stock price has shown some volatility, fluctuating -1.35% over the last five trades and 8.35% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 26.27%, and it has gained 22.19% in the previous three months. Currently, VLY is trading at 2.66%, 6.76%, and 16.94% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, VLY, a Financial sector stock, is trading -15.60% below its 52-week high but remains 46.37% above its 52-week low. The Average True Range (ATR) (14 days) of 0.33 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Valley National Bancorp’s Profitability and Valuation Ratios
Valley National Bancorp’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 12.22% and a profit margin of 8.93%, with a gross margin of 26.27%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Valley National Bancorp’s market capitalization stands at $4.82 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 15.22, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 9.93. Additionally, the Price-to-Sales Ratio is 1.36, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 0.73, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 1.69% of Valley National Bancorp (VLY)’s shares, while financial institutions hold 66.60%.
Notable insider trades include CHILLURA JOSEPH, SEVP, CML Banking President at Valley National Bancorp (VLY), who sold 25000 shares on May 23 ’24, at $7.43 each, totaling $0.19 million. On May 22 ’24, ABRAMSON ANDREW B, Director, sold 16451 shares for $7.72 each, amounting to $0.13 million. Additionally, on Mar 11 ’24, CHILLURA JOSEPH sold 49715 shares at $8.18 each, generating $0.41 million.
