VLY Stock Summary and Trading Ideas (Valley Ntl | NASDAQ:VLY)

Valley National Bancorp is a bank holding company whose principal wholly-owned subsidiary is Valley National Bank. It provides a full range of commercial, retail, and trust and investment services largely through its offices and ATM network throughout northern and central New Jersey, New York City Long Island, Florida, and Alabama. The segments of the group are commercial lending, consumer lending, investment management, and corporate and other adjustments, of which key interest income is derived from the commercial lending segment. In recent years, the company has focused on acquiring companies that operate outside of traditional banking and has emphasized wealth and capital management.

Valley Ntl trades on the NASDAQ stock market under the symbol VLY.

As of May 10, 2024, VLY stock price declined to $7.73 with 2,307,509 million shares trading.

VLY has a beta of 1.61, meaning it tends to be more sensitive to market movements. VLY has a correlation of 0.16 to the broad based SPY ETF.

VLY has a market cap of $3.93 billion. This is considered a Mid Cap stock.

Last quarter Valley Ntl reported $455 million in Revenue and $.19 earnings per share. This fell short of revenue expectation by $-157,000 and missed earnings estimates by -$.01.

In the last 3 years, VLY stock traded as high as $15.10 and as low as $6.39.

The top ETF exchange traded funds that VLY belongs to (by Net Assets): VTI, IJH, VB, IWM, DVY.

VLY has underperformed the market in the last year with a return of +19.3%, while the SPY ETF gained +27.8%. In the last 3 month period, VLY fell short of the market, returning -7.0%, while SPY returned +4.2%. However, in the most recent 2 weeks VLY has outperformed the stock market by returning +5.6%, while SPY returned +2.5%.

VLY support price is $7.51 and resistance is $7.99 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that VLY stock will trade within this expected range on the day.