The stock price of Valley National Bancorp (NASDAQ: VLY) has surged by 3.36 when compared to previous closing price of 8.64, but the company has seen a 13.04% gain in its stock price over the last five trading sessions. InvestorPlace reported 2023-11-06 that Bank stocks are down badly this year. Borrowing costs are sky-high, cutting into net interest income.

Is It Worth Investing in Valley National Bancorp (NASDAQ: VLY) Right Now?

The price-to-earnings ratio for Valley National Bancorp (NASDAQ: VLY) is 7.72x, which is above its average ratio. Moreover, the 36-month beta value for VLY is 1.17. Analysts have varying opinions on the stock, with 6 analysts rating it as a “buy,” 0 as “overweight,” 4 as “hold,” and 1 as “sell.”

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The public float for VLY is 427.52M and currently, short sellers hold a 6.30% of that float. On November 20, 2023, VLY’s average trading volume was 3.36M shares.

VLY’s Market Performance

VLY stock saw an increase of 13.04% in the past week, with a monthly gain of 10.38% and a quarterly increase of -0.22%. The volatility ratio for the week is 4.35%, and the volatility levels for the last 30 days are 3.96% for Valley National Bancorp (VLY). The simple moving average for the past 20 days is 10.83% for VLY’s stock, with a -0.22% simple moving average for the past 200 days.

Analysts’ Opinion of VLY

Many brokerage firms have already submitted their reports for VLY stocks, with JP Morgan repeating the rating for VLY by listing it as a “Neutral.” The predicted price for VLY in the upcoming period, according to JP Morgan is $10 based on the research report published on October 30, 2023 of the current year 2023.

VLY Trading at 7.33% from the 50-Day Moving Average

After a stumble in the market that brought VLY to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -29.85% of loss for the given period.

Volatility was left at 3.96%, however, over the last 30 days, the volatility rate increased by 4.35%, as shares surge +14.19% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -2.08% lower at present.

During the last 5 trading sessions, VLY rose by +13.04%, which changed the moving average for the period of 200-days by -29.07% in comparison to the 20-day moving average, which settled at $8.11. In addition, Valley National Bancorp saw -21.04% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at VLY starting from CHILLURA JOSEPH, who sale 100,000 shares at the price of $8.64 back on Nov 14. After this action, CHILLURA JOSEPH now owns 591,235 shares of Valley National Bancorp, valued at $864,000 using the latest closing price.

SANI SURESH L, the Director of Valley National Bancorp, purchase 4,416 shares at $15.70 during a trade that took place back on May 22, which means that SANI SURESH L is holding 4,416 shares at $69,331 based on the most recent closing price.

Stock Fundamentals for VLY

Equity return is now at value 9.37, with 1.03 for asset returns.

Conclusion

To wrap up, the performance of Valley National Bancorp (VLY) has been mixed in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.