VLY trending up nicely with the financial sector you and I bought the $10 calls EXP 09-16-16 sometime ago for a nickel. There is no trading on them today and you might be able to get them for a nickel or slightly higher if you feel like a gamble.
At the current price of 9.33 I am 17 cents away from having the same balance as I had when VLY was at $10 thanks to buying the lows from the Brexit fallout not counting the Divi's. I actually started buying the lows prior to Brexit as financials was taking a hit. VLY pays .11 on the Divi's if you want to go long.
With financials mixed,the markets down, VLY is up slightly on upgrade Short Term Rating on Valley National Bancorp (VLY) Kurt Burns By: Kurt Burns|Last Updated: July 13, 2016 Valley National Bancorp (VLY) : 1 brokerage houses believe that Valley National Bancorp (VLY) is a Strong Buy at current levels. 4 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Valley National Bancorp (VLY). Zacks Investment Research suggests a Sell with a rank of 4.The median of all the 5 Wall Street Analysts endorse the stock as a Hold with a rating of 2.6. Valley National Bancorp (VLY) : 5 Wall Street analysts covering Valley National Bancorp (VLY) believe that the average level the stock could reach for the short term is $9.6. The maximum price target given is $10 and the minimum target for short term is around $9, hence the standard deviation is calculated at $0.55. Company shares have received an average consensus rating of Hold for the current week http://www.thefoundersdaily.com/short-term-rating-on-valley-national-bancorp-vly/621111/
Valley National Bancorp Reports a 16 Percent Increase in Second Quarter Net Income, Solid Loan Growth and Asset Quality WAYNE, N.J., July 27, 2016 /PRNewswire/ -- Valley National Bancorp (NYSE: VLY), the holding company for Valley National Bank, today reported net income for the second quarter of 2016 of $39.0 million, or $0.15 per diluted common share as compared to the second quarter of 2015 earnings of $32.0 million, or $0.14 per diluted common share and net income of $36.2 million, or $0.14 per diluted common share, for the first quarter of 2016. http://finance.yahoo.com/news/valley-national-bancorp-reports-16-120000532.html
Added a small slice to my long position @8.91. If market worsens could see 8.80 on the lower BB. VLY has been pushing to go higher but market pressure has added to much pressure to do so.
This is the biggest one day pop I have seen since I have owned VLY. If and when the feds starts raising rates on a regular basis VLY will soar with the sector
As I said my picks thread I did not know why VLY was down but here is the reason..Probably Jaffray is short...IMO Valley National downgraded by Piper Jaffray http://finance.yahoo.com/q/ud?bypass=true&s=VLY<r=1 9.28 -0.12 -1.28%
First off @tyro13 congrats on your 1st post and welcome aboard. Normally VLY runs with the financial index and many times it our performs it. That was not the case today as the downgrade give the shorts the upper hand. As it closed one cent off the LOD it could go lower. The first few minutes of trading might give the direction. If it starts dropping I would get a bid ready at or near 9.12 for a 1st tier buy. Keep the second tier buy ready at or near $8.88 and you should be ok. I don't expect it to go that low but if we have a market meltdown you never know. If it should go up, catch the train but beware of a head fake and again make that a 1st tier buy as you can average up when the time is right. If your good with Level 2 you should be able get a handle on the direction if needed. The downgrade was un-just as the earnings were decent with good growth potential especially when the Fed raises interest rates.
Not sure if you have bought or still waiting. The shorting appears to be short lived on the downgrade. Of course the markets are up and financial sector up slightly. It might be a good time to test the water on a 1st tier buy between 9.20 and 9.25...Good luck @tyro13 .
If you bought in the above range you may be ok @tyro13 outside of a market meltdown. The shorts have backed off and VLY is now in sync with the Financial sector. It was holding good when the market was red. If can break 9.29 I would do the average up on your 2nd tier buy but of course always go for the dip.
Seeing the strength in VLY this morning and the markets weak, I would wait for a dip for an addition buy if you can get one.
Yes I posted that yesterday and Jaffray has to be short as the ER was good. But it was just a one day drop now back to business. It is now in sync with the financial sector that is getting hit and VLY currently down one cent.
Considering the financial sector and the markets, VLY held up well and on low volume. I added a very small slice to my position.
Thanks TTT, I got too occupied with my work day and night so have not had a chance. Hoping to take a plunge tomorrow.
