In a filing, Valley National Bancorp revealed its Director ABRAMSON ANDREW B unloaded Company’s shares for reported $71400.0 on Feb 21. In the deal valued at $11.90 per share,6,000 shares were sold. As a result of this transaction, ABRAMSON ANDREW B now holds 212,062 shares worth roughly $ 2.46 million.
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Then, WILLIAMS SIDNEY S bought 208 shares, generating $2,521 in total proceeds. Upon buying the shares at $12.12, the Director now owns 10,854 shares.
Raymond James initiated its Valley National Bancorp [VLY] rating to a Strong buy in a research note published on Tuesday, December 21, 2022; the price target was $14. PT values the company’s stock at a premium of 17.29 to its Tuesday closing price. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who began to cover the stock in early December with a ‘”an Equal-weight”‘ rating. Janney began covering VLY with “Buy” recommendation on August 04, 2022. Citigroup revised its rating on September 24, 2021. It rated VLY as “a Neutral” which previously was an “a Sell”.
Price Performance Review of VLY
On Tuesday, Valley National Bancorp [NASDAQ:VLY] saw its stock fall -0.60% to $11.58. On the same session, the stock had its day’s lowest price of $11.57, but rose to a high of $11.735. Over the last five days, the stock has lost -2.85%. Valley National Bancorp shares have risen nearly 2.39% since the year began. Nevertheless, the stocks have fallen -17.34% over the past one year. While a 52-week high of $14.03 was reached on 02/03/23, a 52-week low of $10.01 was recorded on 01/19/23. SMA at 50 days reached $11.59, while 200 days put it at $11.63. A total of 2.54 million shares were traded, compared to the trading of 3.51 million shares in the previous session.
Levels Of Support And Resistance For VLY Stock
The 24-hour chart illustrates a support level at 11.52, which if violated will result in even more drops to 11.46. On the upside, there is a resistance level at 11.69. A further resistance level may holdings at 11.79. The Relative Strength Index (RSI) on the 14-day chart is 40.95, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.40, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 95.65%. Stochastics %K at 10.42% indicates the stock is a buying.
How much short interest is there in Valley National Bancorp?
A steep rise in short interest was recorded in Valley National Bancorp stocks on Jan 12, 2023, growing by 2.59 million shares to a total of 15.55 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 12.96 million shares. There was a rise of 16.66%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.50% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.42.
Valley National Bancorp [VLY] – Who Are The Largest Shareholders?
In filings from BlackRock Fund Advisors, it is revealed that the company now owns 56,924,615 shares, or roughly 11.24% of the outstanding VLY shares. In other words, the investor’s shares have risen by 2,069,089 from its previous 13-F filing of 54855526.0. Additionally, The Vanguard Group, Inc. increased 2.27% of its stake after which the total value it holdings stand at $521,711,721, while Dimensional Fund Advisors LP added 1.63% of its stake to hold $246.16 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 1,172 shares of Valley National Bancorp, while Macquarie Investment Management B bought -60,505 shares. At present, Wellington Management Co. LLP is holding 11,256,118 shares valued at $133.72 million. American Century Investment Manag owned 9,990,664 shares of the company at the time of its most recent 13F filing, worth $118.69 million.
According to FactSet, Valley National Bancorp’s share price will average $13.45 in the next year, based on opinions of analysts polled by the firm. This is up nearly 11.59 percent from its previous closing price of $11.65. Analysts expect Valley National Bancorp stock to reach the higher price of $15.50, while the lowest price estimate is $11.50. However, 11 analysts have rated VLY stock as an Overweight in their predictions for 2023.