VLY Stock Recent News

Investing in growth stocks under $10 could prove incredibly lucrative over the long term. However, with mega-cap stocks dominating the market, it's easy to overlook penny stocks that could become giants in the future.

Picking stocks under $10 to buy now isn't easy, particularly in light of today's mega-caps making up so much of the wider market's movement. Typically, stocks under $10 fall into one of just a handful of camps: penny stocks destined to struggle to break free from micro-cap status, once-great winners slowly circling the drain, or highly speculative stocks with massive upside potential buffered by equally significant downside risk.

Valley National Bancorp's stock is approaching a 52-week low due to struggles with high interest rates and issues in the banking sector. The bank has two preferred share offerings with high yield dividends, but there are risks to volatility here too. Risks include exposure to commercial real estate, low allowance for credit losses, high level of uninsured deposits, and a problematic loan to deposit ratio.

UMB Financial Corp. drew its first upgrade to outperform in at least 20 years while Valley National Bancorp was downgraded to market perform as KBW weighed bank balance sheet strength in the current higher-for-longer interest rate environment

The Russell 2000 could be on the cusp of a major surge, building a considerable head of steam since January. While the S&P 500's robust gains have outpaced the Russell 2000 over the past year, the gap has started to close recently, sparking renewed enthusiasm for Russell 2000 stocks.

Valley National's (VLY) first-quarter earnings lag estimates due to higher expenses, a drastic rise in provisions and lower NII. However, an increase in non-interest income offers some support.

The headline numbers for Valley National (VLY) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Valley National (VLY) came out with quarterly earnings of $0.19 per share, missing the Zacks Consensus Estimate of $0.20 per share. This compares to earnings of $0.30 per share a year ago.

NEW YORK, April 11, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY ), the holding company for Valley National Bank, announced that it will release its first quarter 2024 earnings before the market opens on Thursday, April 25, 2024.

Two years of rapidly rising interest rates have driven down property prices and made it harder for banks' clients to pay off loans.