VLY - Valley National Bancorp

Should be able to touch 9.90 if the market should reverse back up

 

The $10 calls that expire on Friday do not look to promising right now. That was a gamble as previously stated. With that I bought some $10 OCT 21 calls for 5 cents. I didn't really expect it to fill but it did.

 

As I said in my picks thread yesterday: "and a note on VLY, it hardly had a dip today even when the market was pulling back" There is continuence of that today. It appeared maybe new buyers were coming in as it closed on the HOD
http://stockaholics.net/threads/tiptops-top-picks.122/#post-26027

 

Another day of a continued uptrend in a down market on strong volume

 

Earnings on October 26, 2016

 

Valley National Bancorp Reports a 19 Percent Increase in Third Quarter Net Income, Strong Commercial Loan Growth and Maintains Net Interest Margin
WAYNE, N.J., Oct. 26, 2016 /PRNewswire/ -- Valley National Bancorp (NYSE: VLY), the holding company for Valley National Bank, today reported net income for the third quarter of 2016 of $42.8 million, or $0.16 per diluted common share as compared to the third quarter of 2015 earnings of $36.0 million, or $0.15 per diluted common share and net income of $39.0 million, or $0.15 per diluted common share, for the second quarter of 2016.
http://finance.yahoo.com/news/valley-national-bancorp-reports-19-120000543.html

 

With a nice beat only up a fraction. I think when the markets turn up, VLY should be able to break $10 without much problem

 

Not a bad day considering the markets. Last quarter VLY dropped like a rock on a 1 cent miss and a downgrade. With the 3Q ER it warrants an upgrade...IMO

 

I was wrong on VLY breaking 10 when the markets turned up and it took Trumps election to do so.

 

Before the banking collapse in 2008, VLY was a $20 stock. If we see rate hikes on a regular basis there is no reason it can't be a $20 stock again for the long term. Next stop $11.25 in the short to midterm after a bump or two. I have had 3 divi's now to add icing to the cake...TTT

 

High above the BB no profit taking this morning for VLY as banks are soaring

 

VLY outperforming the financial sectors today at it's overbought level. $11.25 could get here sooner than expected.

 

The 11.25 was broke today but did not hold as VLY was hit with a downgrade by Sandler O'Neill from a Buy to a Hold that may have slowed things down or the fact that it was and is very overbought.

 

Sandler O'Neill made the wrong call with a downgrade on VLY as it sets a new 52 week today

 

Here we go again, a new 52 week high

 

Hello 12

 

A little dilution on VLY on Friday. It's only about 3% of the outstanding shares but enough to take a small hit. This is one of my longs and I came with in 4 cents of triggering a stop for a profit on a small part of my position

Valley National Bancorp Announces Pricing of its Common Stock Offering
http://finance.yahoo.com/news/valley-national-bancorp-announces-pricing-133000696.html