Last Updated: 18 Sep 2024
Executive Summary
Valley National Bancorp (VLY) is a regional bank holding company with a market capitalization of $4.54 billion. The company's shares are currently trading at $8.92, near the midpoint of their 52-week range. VLY has a strong financial profile, with a trailing price-to-earnings (PE) ratio of 12.56 and a forward PE ratio of 10.62. The company also pays a quarterly dividend of $0.44 per share, which yields 4.93%.
Company Overview
Valley National Bancorp is the parent company of Valley National Bank, which offers a range of commercial, retail, insurance, and wealth management financial services products. The company is headquartered in New York, New York, and has over 200 branches in New Jersey, New York, Florida, and Alabama.
Fundamental Analysis
VLY's financial performance has been solid in recent years. The company's revenue grew by 2.2% in 2023 and is expected to grow by 3.0% in 2024. Net income grew by 10.5% in 2023 and is expected to grow by 7.0% in 2024.
VLY's profitability metrics are also strong. The company's net profit margin is 22.9%, and its return on equity is 5.7%. These metrics are both above the industry average.
Technical Analysis
VLY's stock price has been trading in a range between $6.32 and $10.74 over the past 52 weeks. The stock is currently trading near the middle of this range.
The stock's 50-day moving average is $8.06, and its 200-day moving average is $8.31. The stock is currently trading above both of these moving averages, which is a bullish sign.
Short Term Outlook
VLY's stock price is expected to continue to trade in a range in the short term. The stock's technical indicators are neutral, and there are no major catalysts on the horizon.
Long Term Outlook
VLY's long-term outlook is positive. The company's strong financial performance and its exposure to growing markets make it a good investment for long-term investors.
Analyst Recommendations
Analysts are generally positive on VLY. The consensus analyst rating is "hold," and the average analyst price target is $8.83.
Conclusion
VLY is a solid investment for both short-term and long-term investors. The company's strong financial performance and its exposure to growing markets make it a good choice for investors looking for a safe and steady return.
