Valley National Bancorp (VLY)
Market Price (9/23/2026): $13.15 | Market Cap: $7.3 BilSector: Financials | Industry: Regional Banks
Valley National Bancorp (VLY)
Market Price (9/23/2026): $13.15Market Cap: $7.3 BilSector: FinancialsIndustry: Regional Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, Dividend Yield is 3.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.9%, FCF Yield is 7.9% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27% Low stock price volatilityVol 12M is 27% Uninsured deposits are lowUninsured Deposits Ratio %Fraction of deposits that exceed the insurance deposit thresholds. For example, the FDIC protects deposits up to $250K. A high uninsured deposits ratio indicates large accounts and greater potential exposure to bank run risk. is 18% Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Digital Payments. | Weak multi-year price returns3Y Excs Rtn is -8.1% Moderate capital ratioTier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 10% | Key risksVLY key risks include [1] a substantial concentration in commercial real estate loans, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, Dividend Yield is 3.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.9%, FCF Yield is 7.9% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27% |
| Low stock price volatilityVol 12M is 27% |
| Uninsured deposits are lowUninsured Deposits Ratio %Fraction of deposits that exceed the insurance deposit thresholds. For example, the FDIC protects deposits up to $250K. A high uninsured deposits ratio indicates large accounts and greater potential exposure to bank run risk. is 18% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Digital Payments. |
| Weak multi-year price returns3Y Excs Rtn is -8.1% |
| Moderate capital ratioTier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 10% |
| Key risksVLY key risks include [1] a substantial concentration in commercial real estate loans, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 9/1/2026
Valley National Bancorp (VLY) stock has lost about 5% since 5/31/2026 because of the following key factors:
1. Solid Fiscal Q2 2026 Financial Performance with Growth in Key Metrics.
Valley National Bancorp reported net income of $170.9 million, or $0.29 per diluted common share, for fiscal Q2 2026, marking an increase from $133.2 million ($0.22 per share) in fiscal Q2 2025. Net interest income rose to $488.4 million, and the net interest margin improved to 3.20% in fiscal Q2 2026. The company also experienced significant growth in its balance sheet, with total deposits increasing by $1.3 billion to $54.1 billion and total loans growing by $1.6 billion to $52.5 billion during the quarter.
2. Strategic Acquisition to Expand Market Presence and Earnings Accretion.
On August 25, 2026, Valley National Bancorp announced a definitive merger agreement to acquire Providence Financial Corporation for an estimated total consideration of $247 million. This acquisition is expected to add approximately $1.6 billion in total assets and $1.3 billion in total deposits from Providence, bolstering Valley's presence in the Chicagoland market. The transaction is projected to be approximately 2% accretive to Valley's earnings per share.
Show more
Valley National Bancorp (VLY) stock has lost about 5% since 5/31/2026 because of the following key factors:
1. Solid Fiscal Q2 2026 Financial Performance with Growth in Key Metrics.
Valley National Bancorp reported net income of $170.9 million, or $0.29 per diluted common share, for fiscal Q2 2026, marking an increase from $133.2 million ($0.22 per share) in fiscal Q2 2025. Net interest income rose to $488.4 million, and the net interest margin improved to 3.20% in fiscal Q2 2026. The company also experienced significant growth in its balance sheet, with total deposits increasing by $1.3 billion to $54.1 billion and total loans growing by $1.6 billion to $52.5 billion during the quarter.
2. Strategic Acquisition to Expand Market Presence and Earnings Accretion.
On August 25, 2026, Valley National Bancorp announced a definitive merger agreement to acquire Providence Financial Corporation for an estimated total consideration of $247 million. This acquisition is expected to add approximately $1.6 billion in total assets and $1.3 billion in total deposits from Providence, bolstering Valley's presence in the Chicagoland market. The transaction is projected to be approximately 2% accretive to Valley's earnings per share.
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Updated on 9/1/2026
Valley National Bancorp (VLY) stock has lost about 5% since 5/31/2026 because of the following key factors:
1. Solid Fiscal Q2 2026 Financial Performance with Growth in Key Metrics.
Valley National Bancorp reported net income of $170.9 million, or $0.29 per diluted common share, for fiscal Q2 2026, marking an increase from $133.2 million ($0.22 per share) in fiscal Q2 2025. Net interest income rose to $488.4 million, and the net interest margin improved to 3.20% in fiscal Q2 2026. The company also experienced significant growth in its balance sheet, with total deposits increasing by $1.3 billion to $54.1 billion and total loans growing by $1.6 billion to $52.5 billion during the quarter.
2. Strategic Acquisition to Expand Market Presence and Earnings Accretion.
On August 25, 2026, Valley National Bancorp announced a definitive merger agreement to acquire Providence Financial Corporation for an estimated total consideration of $247 million. This acquisition is expected to add approximately $1.6 billion in total assets and $1.3 billion in total deposits from Providence, bolstering Valley's presence in the Chicagoland market. The transaction is projected to be approximately 2% accretive to Valley's earnings per share.
3. Positive Analyst Sentiment and Consistent Dividend Payouts.
Wall Street analysts maintained a "Moderate Buy" consensus rating for VLY, with an average 12-month price target of $16.56, suggesting a potential upside of 17.50% from the stock's price of $14.09. Concurrently, Valley National Bancorp continued to declare a regular quarterly common stock dividend of $0.11 per share, which was unchanged from the prior quarter, offering a stable annual dividend yield of approximately 3.18% to shareholders.
4. Balanced Macroeconomic Environment for the Banking Sector.
The period was characterized by a mixed macroeconomic outlook; global markets showed stabilization due to resilient economic growth and investments in AI, yet lingering inflation and a cautious stance from central banks persisted. The Federal Reserve kept short-term policy rates steady in fiscal Q2 2026, but the Personal Consumption Expenditures (PCE) Index remained 140 basis points above the Fed's 2% inflation target, indicating ongoing inflationary pressures. This environment contributed to a balanced market sentiment for banking stocks like VLY.
Show less
Valley National Bancorp (VLY) stock has lost about 5% since 5/31/2026 because of the following key factors:
1. Solid Fiscal Q2 2026 Financial Performance with Growth in Key Metrics.
Valley National Bancorp reported net income of $170.9 million, or $0.29 per diluted common share, for fiscal Q2 2026, marking an increase from $133.2 million ($0.22 per share) in fiscal Q2 2025. Net interest income rose to $488.4 million, and the net interest margin improved to 3.20% in fiscal Q2 2026. The company also experienced significant growth in its balance sheet, with total deposits increasing by $1.3 billion to $54.1 billion and total loans growing by $1.6 billion to $52.5 billion during the quarter.
2. Strategic Acquisition to Expand Market Presence and Earnings Accretion.
On August 25, 2026, Valley National Bancorp announced a definitive merger agreement to acquire Providence Financial Corporation for an estimated total consideration of $247 million. This acquisition is expected to add approximately $1.6 billion in total assets and $1.3 billion in total deposits from Providence, bolstering Valley's presence in the Chicagoland market. The transaction is projected to be approximately 2% accretive to Valley's earnings per share.
3. Positive Analyst Sentiment and Consistent Dividend Payouts.
Wall Street analysts maintained a "Moderate Buy" consensus rating for VLY, with an average 12-month price target of $16.56, suggesting a potential upside of 17.50% from the stock's price of $14.09. Concurrently, Valley National Bancorp continued to declare a regular quarterly common stock dividend of $0.11 per share, which was unchanged from the prior quarter, offering a stable annual dividend yield of approximately 3.18% to shareholders.
4. Balanced Macroeconomic Environment for the Banking Sector.
The period was characterized by a mixed macroeconomic outlook; global markets showed stabilization due to resilient economic growth and investments in AI, yet lingering inflation and a cautious stance from central banks persisted. The Federal Reserve kept short-term policy rates steady in fiscal Q2 2026, but the Personal Consumption Expenditures (PCE) Index remained 140 basis points above the Fed's 2% inflation target, indicating ongoing inflationary pressures. This environment contributed to a balanced market sentiment for banking stocks like VLY.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -3.2% change in VLY stock from 5/31/2026 to 9/22/2026 was primarily driven by a -8.8% change in the company's P/E Multiple.| (LTM values as of) | 5312026 | 9222026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.56 | 13.12 | -3.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,088 | 2,153 | 3.1% |
| Net Income Margin (%) | 31.4% | 32.2% | 2.5% |
| P/E Multiple | 11.5 | 10.5 | -8.8% |
| Shares Outstanding (Mil) | 556 | 554 | 0.4% |
| Cumulative Contribution | -3.2% |
Market Drivers
5/31/2026 to 9/22/2026| Return | Correlation | |
|---|---|---|
| VLY | -3.2% | |
| Market (SPY) | 2.5% | 29.9% |
| Sector (XLF) | 6.6% | 56.1% |
Fundamental Drivers
The 6.7% change in VLY stock from 2/28/2026 to 9/22/2026 was primarily driven by a 9.1% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 9222026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.30 | 13.12 | 6.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,026 | 2,153 | 6.3% |
| Net Income Margin (%) | 29.5% | 32.2% | 9.1% |
| P/E Multiple | 11.5 | 10.5 | -8.8% |
| Shares Outstanding (Mil) | 558 | 554 | 0.8% |
| Cumulative Contribution | 6.7% |
Market Drivers
2/28/2026 to 9/22/2026| Return | Correlation | |
|---|---|---|
| VLY | 6.7% | |
| Market (SPY) | 13.3% | 41.0% |
| Sector (XLF) | 7.5% | 57.3% |
Fundamental Drivers
The 31.1% change in VLY stock from 8/31/2025 to 9/22/2026 was primarily driven by a 36.0% change in the company's Net Income Margin (%).| (LTM values as of) | 8312025 | 9222026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.01 | 13.12 | 31.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,912 | 2,153 | 12.6% |
| Net Income Margin (%) | 23.7% | 32.2% | 36.0% |
| P/E Multiple | 12.4 | 10.5 | -15.4% |
| Shares Outstanding (Mil) | 560 | 554 | 1.2% |
| Cumulative Contribution | 31.1% |
Market Drivers
8/31/2025 to 9/22/2026| Return | Correlation | |
|---|---|---|
| VLY | 31.1% | |
| Market (SPY) | 21.2% | 41.7% |
| Sector (XLF) | 3.1% | 57.7% |
Fundamental Drivers
The 65.6% change in VLY stock from 8/31/2023 to 9/22/2026 was primarily driven by a 67.1% change in the company's P/E Multiple.| (LTM values as of) | 8312023 | 9222026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.92 | 13.12 | 65.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,994 | 2,153 | 8.0% |
| Net Income Margin (%) | 32.2% | 32.2% | 0.1% |
| P/E Multiple | 6.3 | 10.5 | 67.1% |
| Shares Outstanding (Mil) | 508 | 554 | -8.3% |
| Cumulative Contribution | 65.6% |
Market Drivers
8/31/2023 to 9/22/2026| Return | Correlation | |
|---|---|---|
| VLY | 65.6% | |
| Market (SPY) | 78.3% | 47.5% |
| Sector (XLF) | 67.1% | 60.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| VLY Return | 46% | -15% | 1% | -12% | 35% | 18% | 75% |
| Peers Return | 37% | 8% | -4% | 29% | 21% | 6% | 135% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 107% |
Monthly Win Rates [3] | |||||||
| VLY Win Rate | 75% | 50% | 50% | 50% | 75% | 56% | |
| Peers Win Rate | 71% | 52% | 48% | 54% | 62% | 38% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| VLY Max Drawdown | -18% | -31% | -47% | -38% | -23% | -14% | |
| Peers Max Drawdown | -21% | -24% | -49% | -18% | -29% | -16% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: FNB, FHN, PNFP, BKU, EWBC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/22/2026 (YTD)
How Low Can It Go
| Event | VLY | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -20.5% | -18.8% |
| % Gain to Breakeven | 25.8% | 23.1% |
| Time to Breakeven | 124 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -20.0% | -9.5% |
| % Gain to Breakeven | 24.9% | 10.5% |
| Time to Breakeven | 35 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -46.0% | -6.7% |
| % Gain to Breakeven | 85.2% | 7.1% |
| Time to Breakeven | 860 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -25.9% | -24.5% |
| % Gain to Breakeven | 35.0% | 32.4% |
| Time to Breakeven | 1245 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -41.3% | -33.7% |
| % Gain to Breakeven | 70.3% | 50.9% |
| Time to Breakeven | 278 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -25.8% | -19.2% |
| % Gain to Breakeven | 34.7% | 23.8% |
| Time to Breakeven | 218 days | 105 days |
In The Past
Valley National Bancorp's stock fell -20.5% during the 2025 US Tariff Shock. Such a loss loss requires a 25.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | VLY | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -20.5% | -18.8% |
| % Gain to Breakeven | 25.8% | 23.1% |
| Time to Breakeven | 124 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -46.0% | -6.7% |
| % Gain to Breakeven | 85.2% | 7.1% |
| Time to Breakeven | 860 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -25.9% | -24.5% |
| % Gain to Breakeven | 35.0% | 32.4% |
| Time to Breakeven | 1245 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -41.3% | -33.7% |
| % Gain to Breakeven | 70.3% | 50.9% |
| Time to Breakeven | 278 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -25.8% | -19.2% |
| % Gain to Breakeven | 34.7% | 23.8% |
| Time to Breakeven | 218 days | 105 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -26.8% | -17.9% |
| % Gain to Breakeven | 36.5% | 21.8% |
| Time to Breakeven | 186 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -49.5% | -53.4% |
| % Gain to Breakeven | 97.8% | 114.4% |
| Time to Breakeven | 385 days | 1085 days |
In The Past
Valley National Bancorp's stock fell -20.5% during the 2025 US Tariff Shock. Such a loss loss requires a 25.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Valley National Bancorp (VLY)
Valley National Bancorp (VLY) operates as the holding company for Valley National Bank, a diversified financial institution primarily serving customers in New Jersey, New York, Florida, and Alabama through its extensive branch network. The company offers a comprehensive range of financial services, broadly categorized into commercial, retail, insurance, and wealth management, catering to both individual consumers and businesses across its geographic footprint.
At its core, Valley National Bank provides traditional banking services, including various deposit accounts such as savings, money market, NOW, and checking accounts, alongside a wide array of lending products. Its loan portfolio spans commercial and industrial, commercial real estate, and residential mortgages, as well as consumer loans like automobile, home equity, and personal loans. Beyond standard banking, VLY also invests in various securities and offers diverse insurance agency services covering property & casualty, life, health, and title.
The company extends its offerings into specialized financial solutions, including comprehensive wealth management services with investment strategies for individuals and businesses, trust services, and retirement planning. Valley National Bancorp also facilitates international banking services, such as letters of credit and foreign exchange transactions, and provides business-focused services like tax credit advisory, healthcare equipment lending, commercial equipment leasing, and real estate investments, thereby serving a broad customer base from everyday consumers to complex corporate and individual financial needs.
AI Analysis | Feedback
Here are 1-3 brief analogies for Valley National Bancorp (VLY):
- A regional bank much like **PNC Bank** or **Truist Financial**, primarily serving the Northeast and Southeast US.
- Think of it as a full-service **US Bank** or **KeyCorp**, but concentrated across New Jersey, New York, Florida, and Alabama.
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- Deposit Accounts: Offers a range of non-interest bearing, savings, NOW, money market, and time deposit accounts.
- Commercial Lending: Provides commercial and industrial loans, as well as commercial real estate financing.
- Consumer Lending: Offers residential mortgages, automobile loans, home equity loans and lines of credit, and other consumer loan products.
- International Banking Services: Delivers services like standby and documentary letters of credit, foreign exchange transactions, and foreign wire transfers.
- Investment Management Services: Provides investment services, custom-tailored strategies, and retirement plan solutions for individuals and businesses.
- Trust Services: Administers living and testamentary trusts, offers investment management, custodial, escrow, and estate administration services.
- Tax Credit Advisory Services: Offers specialized advisory services related to tax credits.
- Insurance Agency Services: Acts as an agency offering property and casualty, life, health, and title insurance products.
- Equipment Financing: Specializes in lending and leasing for health care and other commercial equipment.
- Banking Support Services: Provides online, mobile, and telephone banking, ATM access, remote deposit capture, and safe deposit facilities.
AI Analysis | Feedback
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Valley National Bancorp (VLY) provides a wide range of financial services to a diverse customer base, including both individuals and businesses. Given its nature as a commercial bank, it does not typically have "major customers" in the traditional sense of a few identifiable companies that account for a significant portion of its revenue. Instead, its customer base consists of numerous depositors, borrowers, and users of its various financial products and services. Therefore, its customers can be best described by the following categories:
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Retail Customers (Individuals and Households)
This category includes individuals and families who utilize Valley National Bank for their personal banking needs. Services provided to this segment include non-interest bearing, savings, NOW, money market, and time deposit accounts; residential mortgage, automobile, home equity, and other consumer loans; and access to services such as online, mobile, and telephone banking, ATMs, and safe deposit facilities.
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Commercial Clients (Businesses and Institutions)
This segment encompasses various businesses, particularly small to medium-sized businesses, and other commercial entities. They benefit from services such as commercial and industrial loans, commercial real estate loans, health care equipment lending, other commercial equipment leasing, international banking services (including standby and documentary letters of credit, foreign exchange transactions), and various business deposit accounts.
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Wealth Management and Trust Clients
This category serves both individuals and businesses seeking specialized financial planning and asset management. Services include investment services, trust services (such as living and testamentary trusts, investment management, custodial and escrow services, and estate administration), and custom-tailored investment strategies for various retirement plans.
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Here is the management team for Valley National Bancorp (VLY):
Ira Robbins, Chief Executive Officer, Chairman of the Board
Ira Robbins was appointed CEO in January 2017 and also serves as Chairman of the Board for both Valley National Bancorp and Valley National Bank. He joined Valley in 1996 through the Bank's Management Associate Program and has advanced through various key positions, including roles in corporate finance, treasury, and accounting. Robbins holds a Bachelor's degree from Susquehanna University, an MBA from Pace University, and is a graduate of Stonier Graduate School of Banking. He is also a Certified Public Accountant in New Jersey and a member of the New Jersey Society of Certified Public Accountants and the American Institute of Public Accountants.
Travis Lan, Senior Executive Vice President, Chief Financial Officer
Travis Lan was promoted to Senior Executive Vice President and Chief Financial Officer effective March 3, 2025. He joined Valley in February 2020 and has been instrumental in the bank's strategic growth and balance sheet transformation. His responsibilities have included M&A, investor relations, capital raising, stress testing, budgeting, and management reporting. Prior to joining Valley, Lan was a Director in the Investment Banking Department at Keefe, Bruyette & Woods, Inc., where he specialized in M&A and capital advisory for community and regional banks. Before his investment banking career, he spent a decade as an equity research analyst covering community and regional banks for firms such as Keefe, Bruyette & Woods, Stifel Nicolaus, and Ryan Beck & Co.
Russell Barrett, Senior Executive Vice President, Chief Operating Officer
Russell Barrett serves as the Senior Executive Vice President and Chief Operating Officer, responsible for overseeing daily operations and process improvements within the company.
Gino Martocci, Senior Executive Vice President, President of Commercial Banking
Gino Martocci was appointed Senior Executive Vice President, President of Commercial Banking on March 3, 2025. He brings over 30 years of industry experience and a history of driving profitable growth. Before joining Valley, Martocci served as the Head of Commercial and Commercial Real Estate Banking for M&T Bank.
Lyndsey Sloan, Senior Executive Vice President, General Counsel
Lyndsey Sloan holds the position of Senior Executive Vice President and General Counsel.
Ira Robbins was appointed CEO in January 2017 and also serves as Chairman of the Board for both Valley National Bancorp and Valley National Bank. He joined Valley in 1996 through the Bank's Management Associate Program and has advanced through various key positions, including roles in corporate finance, treasury, and accounting. Robbins holds a Bachelor's degree from Susquehanna University, an MBA from Pace University, and is a graduate of Stonier Graduate School of Banking. He is also a Certified Public Accountant in New Jersey and a member of the New Jersey Society of Certified Public Accountants and the American Institute of Public Accountants.
Travis Lan, Senior Executive Vice President, Chief Financial Officer
Travis Lan was promoted to Senior Executive Vice President and Chief Financial Officer effective March 3, 2025. He joined Valley in February 2020 and has been instrumental in the bank's strategic growth and balance sheet transformation. His responsibilities have included M&A, investor relations, capital raising, stress testing, budgeting, and management reporting. Prior to joining Valley, Lan was a Director in the Investment Banking Department at Keefe, Bruyette & Woods, Inc., where he specialized in M&A and capital advisory for community and regional banks. Before his investment banking career, he spent a decade as an equity research analyst covering community and regional banks for firms such as Keefe, Bruyette & Woods, Stifel Nicolaus, and Ryan Beck & Co.
Russell Barrett, Senior Executive Vice President, Chief Operating Officer
Russell Barrett serves as the Senior Executive Vice President and Chief Operating Officer, responsible for overseeing daily operations and process improvements within the company.
Gino Martocci, Senior Executive Vice President, President of Commercial Banking
Gino Martocci was appointed Senior Executive Vice President, President of Commercial Banking on March 3, 2025. He brings over 30 years of industry experience and a history of driving profitable growth. Before joining Valley, Martocci served as the Head of Commercial and Commercial Real Estate Banking for M&T Bank.
Lyndsey Sloan, Senior Executive Vice President, General Counsel
Lyndsey Sloan holds the position of Senior Executive Vice President and General Counsel.
AI Analysis | Feedback
The key risks to Valley National Bancorp (VLY) are primarily concentrated in its exposure to the commercial real estate market, the impact of interest rate fluctuations on its net interest margin, and liquidity challenges related to deposit stability.
Key Risks to Valley National Bancorp (VLY)
- Commercial Real Estate (CRE) Exposure: Valley National Bancorp has a significant concentration in commercial real estate loans, particularly non-owner occupied CRE, which has been cited as a primary concern. As of September 30, 2025, CRE loans represented a high 337% of Total Risk-Based Capital, and earlier in 2025, the concentration was reported as high as 376% of capital. A downturn in the commercial real estate market could lead to increased credit losses, necessitating higher loan loss provisions, and consequently impacting profitability and capital buffers. The company is actively working to mitigate this risk by diversifying its loan portfolio towards Commercial and Industrial (C&I) and consumer loans.
- Interest Rate Risk and Net Interest Margin (NIM) Pressure: The bank's earnings and financial stability are highly sensitive to changes in interest rates. Valley National Bancorp has experienced struggles with elevated interest rates, which have contributed to a decline in net interest income since late 2022. Competitive pressure for deposits, especially in markets like New York, can further increase funding costs and negatively impact the net interest margin, which represents the difference between interest earned on assets and interest paid on liabilities. A sustained challenging interest rate environment, particularly if the yield curve flattens or inverts, poses substantial risks to the bank's overall financial stability.
- Liquidity and Funding Risks: Valley National Bancorp has faced challenges with deposit declines, which increases its reliance on higher-cost debt financing and negatively affects earnings. The bank's loan-to-deposit ratio, while showing recent improvement to 96.3% in Q3 2025, has historically been over 100%, indicating a potential vulnerability if deposit outflows were to accelerate. High interest expenses are also a concern, and the broader risk of instability within the U.S. financial sector or potential bank failures could lead to coordinated deposit runs, impacting the bank's liquidity and ability to borrow or raise capital.
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The rapid growth and increasing adoption of digital-first financial service providers across all segments Valley National Bancorp operates in. This includes neobanks and challenger banks offering streamlined, mobile-centric retail banking experiences; fintech lenders specializing in various commercial and consumer loan types with faster, technology-driven processes; robo-advisors providing low-cost, automated investment management; and insurtech companies disrupting traditional insurance agency services. These competitors leverage lower operational overheads, superior digital user experiences, and data analytics to attract customers, directly challenging Valley National Bancorp's branch-heavy operational model and market share in deposits, loans, wealth management, and insurance.
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Valley National Bancorp, which operates as the holding company for Valley National Bank, provides a range of commercial, retail, insurance, and wealth management financial services. The addressable markets for its main products and services in the U.S. are substantial:
- Commercial Lending: The U.S. commercial lending market is approximated at USD 2,399.44 billion in 2025. The outstanding commercial real estate (CRE) loans in the U.S. totaled approximately $6.2 trillion.
- Consumer Lending:
- Residential Mortgages: The U.S. residential mortgage market is valued at $14.3 trillion in outstanding debt. Total single-family mortgage originations are expected to reach $2.2 trillion in 2026.
- Automobile Loans: Americans held $1.655 trillion in auto loan debt as of Q3 2025.
- Home Equity Loans and Lines of Credit (HELOCs): The U.S. home equity lending market was valued at USD 179.21 billion in 2025.
- Deposit Accounts: Total deposits across all commercial banks in the U.S. amounted to USD 18.816 trillion as of March 4, 2026.
- Investment Management (Wealth Management): The U.S. wealth management industry represents roughly $62 trillion in investable assets, projected to grow to $85 trillion by 2028.
- Insurance:
- Life Insurance: The U.S. life insurance industry reported total direct written premiums and deposits of $1.4 trillion in 2024. The U.S. life insurance and annuities market was USD 819 billion in 2024, projected to reach USD 1.1 trillion by 2026.
- Health Insurance: The U.S. health and medical insurance market is valued at $1.6 trillion in 2026.
- Property & Casualty Insurance: The U.S. Property and Casualty Insurance Market is valued at USD 1.14 trillion in 2026.
AI Analysis | Feedback
Valley National Bancorp (VLY) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives and market dynamics:
- Expansion in Commercial & Industrial (C&I) and Consumer Lending: Valley National Bancorp is strategically pivoting towards higher-margin loan segments, with a particular focus on Commercial & Industrial (C&I) loans and auto loans. For instance, C&I loans grew by 28.4% year-over-year in Q2 2025, and auto loans increased by 27.0% in the same period, contributing to net interest margin expansion. Management anticipates low-single-digit overall loan growth for 2025, with a more aggressive target for a 9% expansion in the C&I segment for 2025. This shift aims to diversify the loan portfolio and reduce concentration risk in commercial real estate.
- Growth in Non-Interest Income: The company is focused on enhancing its fee-based revenue streams. Key areas include expanding deposit service revenue through its Treasury Solutions group, which saw a 27% annualized increase in late 2024. Additionally, improved foreign exchange capabilities added $4 million to the annualized run rate in Q1 2025. Valley is also concentrating growth efforts on its capital markets and tax credit advisory offerings. Non-interest income is projected to grow between 6% and 10% for the full year 2025 and is expected to see high single-digit growth in 2026.
- Geographical Expansion and Market Penetration: Valley National Bancorp is actively expanding its footprint in high-growth regions such as Florida and California. This strategic expansion, partly through acquisitions like the 2022 acquisition of Bank Leumi USA, is designed to access new customer bases and diversify revenue streams. Florida and other newer regions now represent 50% of commercial loans, significantly up from 21% in 2017.
- Net Interest Margin (NIM) Expansion: The company anticipates continued expansion of its net interest margin, driven by a repricing tailwind on assets and disciplined deposit cost management. Valley's net interest margin reached 3.01% in Q2 2025, an improvement of 5 basis points from Q1 2025. Further, it expanded to 3.17% in Q4 2025, and management expects an additional 15-20 basis points of margin expansion from Q4 2025 to Q4 2026. Net interest income is projected to grow between 8% and 10% for 2025 and an estimated 11% to 13% in 2026.
AI Analysis | Feedback
Capital Allocation Decisions (Last 3-5 Years)
Share Repurchases
- Valley National Bancorp's Board of Directors approved a new stock repurchase program in February 2026, authorizing the buyback of up to 25 million shares of common stock. This program will be effective from April 27, 2026, until April 27, 2028, and replaces the prior program that was set to expire on April 26, 2026.
- A share repurchase plan with an authorization of up to 25 million shares was announced in February 2024, becoming effective on April 26, 2024, and set to expire on April 26, 2026.
- In 2025, Valley National Bancorp repurchased 6.1 million shares of common stock at an average price of $10.41 per share. Approximately 18.9 million shares remained available for repurchase under the existing authorization as of December 31, 2025.
Share Issuance
- In April 2022, Valley National Bancorp issued approximately 85 million shares of common stock as part of the acquisition of Bank Leumi USA.
- Valley National Bancorp's shares outstanding for the quarter ending December 31, 2025, were 0.562 billion, marking an 8.54% increase year-over-year.
- Annual shares outstanding increased by 8.85% in 2025 to 0.564 billion, by 1.72% in 2024 to 0.518 billion, and by 4.39% in 2023 to 0.509 billion.
Outbound Investments
- Valley National Bancorp completed the acquisition of Bank Leumi USA in April 2022. The deal, valued at an estimated $1.1 billion to $1.2 billion, involved a combination of approximately 85 million shares of Valley's common stock and $113 million in cash.
- This acquisition was intended to broaden Valley National's commercial product offerings and expand its technology and venture capital banking business.
- In 2021, Valley National also acquired Westchester Bank.
Capital Expenditures
- Valley National Bancorp's non-interest expenses are anticipated to remain elevated due to continued expansion through acquisitions and investments in revenue growth areas.
- The company has emphasized ongoing digital investments.
Peer Outperformance in Regional Banks
VLY has trailed 78% of its 265 Regional Banks peers over 5Y. Regional Banks ranks 7th of 18 industries in Financials by median 5Y return.
Share of Regional Banks constituents that VLY has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
55%
of 290 industry peers · 26.5% return
3Y
38%
of 279 industry peers · 79.0% return
5Y
22%
of 265 industry peers · 26.3% return
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Median price return by industry across the Financials sector, ranked by 5Y. Regional Banks is VLY's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Reinsurance | 7 | 25.1% | 63.7% | 118.0% | SPNT 171% · RGA 146% · RNR 139% |
| Diversified Banks | 13 | 30.7% | 131.4% | 112.5% | CM 152% · RY 141% · JPM 139% |
| Investment Banking & Brokerage | 13 | -1.5% | 107.8% | 109.6% | IBKR 507% · SNEX 256% · GS 174% |
| Life & Health Insurance | 20 | 7.5% | 51.6% | 98.0% | JXN 517% · UNM 350% · FG 195% |
| Multi-Sector Holdings | 4 | 4.9% | 46.9% | 78.8% | JONE 362% · BRK-B 81% · VOYA 77% |
| Property & Casualty Insurance | 42 | 8.4% | 64.8% | 65.7% | ASIC 2701900% · HRTG 395% · UVE 312% |
| Regional Banks ← | 266 | 24.8% | 91.2% | 61.2% | ESQ 365% · BLX 356% · GCBC 312% |
| Multi-line Insurance | 9 | 7.0% | 69.5% | 58.1% | GNW 176% · L 103% · SLF 98% |
| Financial Exchanges & Data | 15 | -3.1% | 16.7% | 28.8% | VIRT 173% · CBOE 130% · CME 70% |
| Diversified Financial Services | 4 | -7.4% | 22.5% | 24.8% | FRHC 165% · EQH 103% · TMS -53% |
| Consumer Finance | 30 | -1.3% | 89.1% | 21.8% | ENVA 409% · EZPW 306% · FCFS 166% |
| Insurance Brokers | 16 | -18.3% | -10.1% | 14.3% | LIFE 190% · ARX 88% · CRD-A 63% |
| Commercial & Residential Mortgage Finance | 15 | -44.3% | 26.6% | 12.7% | FNMA 445% · FMCC 407% · ACT 174% |
| Asset Management & Custody Banks | 87 | -11.0% | 14.3% | 7.5% | WT 330% · SII 291% · VCTR 263% |
| Specialized Finance | 3 | 13.3% | 43.6% | -3.2% | EFC 27% · CACC -3% · HASI -17% |
| Mortgage REITs | 33 | -10.2% | 8.5% | -21.2% | NREF 59% · RITM 43% · DX 34% |
| Diversified Capital Markets | 25 | -32.4% | 9.5% | -47.0% | OPY 180% · LPLA 105% · CD 82% |
| Transaction & Payment Processing Services | 17 | -1.2% | -8.2% | -47.9% | V 65% · MA 62% · CPAY 49% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
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|---|---|
| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 33.56 |
| Mkt Cap | 9.2 |
| Rev LTM | 2,611 |
| Op Inc LTM | - |
| FCF LTM | 820 |
| FCF 3Y Avg | 691 |
| CFO LTM | 882 |
| CFO 3Y Avg | 786 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 12.2% |
| Rev Chg 3Y Avg | 4.0% |
| Rev Chg Q | 9.7% |
| QoQ Delta Rev Chg LTM | 2.3% |
| Op Inc Chg LTM | - |
| Op Inc Chg 3Y Avg | - |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 35.8% |
| CFO/Rev 3Y Avg | 38.8% |
| FCF/Rev LTM | 33.6% |
| FCF/Rev 3Y Avg | 38.1% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Commercial Banking | 1,479 | 1,464 | 1,529 | 1,413 | 987 |
| Consumer Banking | 392 | 315 | 270 | 331 | 292 |
| Treasury and Corporate Other | 144 | 74 | 92 | 118 | 86 |
| Total | 2,016 | 1,853 | 1,891 | 1,862 | 1,365 |
| $ Mil | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|
| Commercial Banking | 308 | 240 | 225 | 139 | 51 |
| Consumer Banking | 115 | 94 | 112 | 246 | 110 |
| Investment Management | 63 | 67 | 59 | 69 | 42 |
| Corporate and Other | -359 | -254 | -216 | -243 | -6 |
| Total | 127 | 147 | 179 | 210 | 197 |
| $ Mil | 2005 | 2004 | 2002 |
|---|---|---|---|
| Commercial Banking | 3,957 | 3,249 | 2,767 |
| Consumer Banking | 3,679 | 3,294 | 2,755 |
| Investment Management | 3,353 | 3,074 | 2,589 |
| Total | 10,989 | 9,616 | 8,110 |
Price Behavior
Price Behavior
| Market Price | $13.12 | |
| Market Cap ($ Bil) | 7.3 | |
| First Trading Date | 03/23/1990 | |
| Distance from 52W High | -12.9% | |
| 50 Days | 200 Days | |
| DMA Price | $14.16 | $13.08 |
| DMA Trend | up | indeterminate |
| Distance from DMA | -7.4% | 0.3% |
| 3M | 1YR | |
| Volatility | 20.4% | 26.7% |
| Downside Capture | 129.61 | 84.91 |
| Upside Capture | 54.93 | 96.74 |
| Correlation (SPY) | 33.2% | 42.2% |
VLY Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.27 | 0.92 | 0.49 | 0.70 | 0.89 | 1.13 |
| Up Beta | 1.75 | 1.10 | 0.34 | 0.73 | 1.02 | 1.12 |
| Down Beta | 1.75 | 0.26 | 0.17 | 0.47 | 0.81 | 1.02 |
| Up Capture | 40% | 57% | 63% | 73% | 95% | 160% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 8 | 18 | 30 | 63 | 133 | 377 |
| Down Capture | 192% | 152% | 73% | 79% | 83% | 105% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 12 | 23 | 32 | 61 | 114 | 361 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VLY | |
|---|---|---|---|---|
| VLY | 24.1% | 26.8% | 0.78 | - |
| Sector ETF (XLF) | 2.6% | 14.7% | -0.05 | 59.1% |
| Equity (SPY) | 17.6% | 13.0% | 0.98 | 42.0% |
| Gold (GLD) | 18.0% | 29.3% | 0.56 | 10.8% |
| Commodities (DBC) | 46.6% | 20.7% | 1.75 | -15.4% |
| Real Estate (VNQ) | 5.2% | 13.6% | 0.12 | 38.6% |
| Bitcoin (BTCUSD) | -26.0% | 44.9% | -0.54 | 14.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VLY | |
|---|---|---|---|---|
| VLY | 6.6% | 37.2% | 0.26 | - |
| Sector ETF (XLF) | 9.8% | 18.4% | 0.39 | 62.6% |
| Equity (SPY) | 13.3% | 17.2% | 0.59 | 50.5% |
| Gold (GLD) | 18.9% | 18.8% | 0.81 | 3.2% |
| Commodities (DBC) | 10.8% | 19.6% | 0.43 | 9.7% |
| Real Estate (VNQ) | 1.0% | 18.9% | -0.05 | 51.0% |
| Bitcoin (BTCUSD) | 12.7% | 52.6% | 0.42 | 21.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VLY | |
|---|---|---|---|---|
| VLY | 7.7% | 36.4% | 0.31 | - |
| Sector ETF (XLF) | 12.8% | 22.1% | 0.53 | 71.6% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 55.0% |
| Gold (GLD) | 12.2% | 16.4% | 0.61 | -3.0% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 18.1% |
| Real Estate (VNQ) | 4.7% | 20.7% | 0.19 | 51.7% |
| Bitcoin (BTCUSD) | 64.0% | 66.2% | 1.04 | 15.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/25/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/23/2026 | -0.5% | -1.7% | -2.8% |
| 4/23/2026 | 3.9% | 0.5% | 1.2% |
| 1/29/2026 | 3.3% | 9.1% | 2.8% |
| 10/23/2025 | 4.2% | 8.2% | 3.5% |
| 7/24/2025 | -1.8% | -3.2% | -0.2% |
| 4/24/2025 | 1.2% | -0.3% | 0.7% |
| 1/23/2025 | -0.2% | 3.5% | -2.7% |
| 10/24/2024 | 5.3% | 6.2% | 12.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 15 | 15 |
| # Negative | 11 | 9 | 9 |
| Median Positive | 3.3% | 3.5% | 4.9% |
| Median Negative | -1.7% | -4.1% | -3.4% |
| Max Positive | 5.5% | 9.1% | 20.8% |
| Max Negative | -7.9% | -14.7% | -21.9% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/23/2026 | -0.5% | -1.7% | -2.8% |
| 4/23/2026 | 3.9% | 0.5% | 1.2% |
| 1/29/2026 | 3.3% | 9.1% | 2.8% |
| 10/23/2025 | 4.2% | 8.2% | 3.5% |
| 7/24/2025 | -1.8% | -3.2% | -0.2% |
| 4/24/2025 | 1.2% | -0.3% | 0.7% |
| 1/23/2025 | -0.2% | 3.5% | -2.7% |
| 10/24/2024 | 5.3% | 6.2% | 12.4% |
| 7/25/2024 | 3.1% | 7.3% | 4.9% |
| 4/25/2024 | -0.9% | -6.9% | -6.3% |
| 1/25/2024 | -4.4% | -10.9% | -21.9% |
| 10/26/2023 | 1.7% | 0.0% | 13.2% |
| 7/27/2023 | -2.5% | -4.1% | -15.0% |
| 4/27/2023 | 3.8% | -14.7% | -12.0% |
| 1/26/2023 | 3.1% | 8.6% | 5.5% |
| 10/27/2022 | -1.7% | 0.4% | 8.4% |
| 7/28/2022 | 3.3% | 5.1% | 11.0% |
| 4/28/2022 | 1.1% | 1.9% | 3.0% |
| 1/27/2022 | -7.9% | -4.6% | -3.4% |
| 10/28/2021 | 1.0% | 5.7% | 3.6% |
| 7/22/2021 | -2.2% | 0.8% | -0.9% |
| 4/29/2021 | -0.1% | 2.6% | 2.4% |
| 1/28/2021 | -0.3% | 2.0% | 17.9% |
| 10/22/2020 | 5.5% | -2.4% | 20.8% |
| SUMMARY STATS | |||
| # Positive | 13 | 15 | 15 |
| # Negative | 11 | 9 | 9 |
| Median Positive | 3.3% | 3.5% | 4.9% |
| Median Negative | -1.7% | -4.1% | -3.4% |
| Max Positive | 5.5% | 9.1% | 20.8% |
| Max Negative | -7.9% | -14.7% | -21.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/07/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/07/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/09/2022 | 10-Q |
| 12/31/2021 | 02/28/2022 | 10-K |
| 09/30/2021 | 11/08/2021 | 10-Q |
| 06/30/2021 | 08/06/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 02/26/2021 | 10-K |
| 09/30/2020 | 11/06/2020 | 10-Q |
| 06/30/2020 | 08/07/2020 | 10-Q |
| 03/31/2020 | 05/11/2020 | 10-Q |
| 12/31/2019 | 03/10/2020 | 10-K |
| 09/30/2019 | 11/07/2019 | 10-Q |
Insider Activity
Updated 8/4/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Crandell, Mitchell L | EVP & Chief Accounting Officer | Direct | Sell | 6152026 | 14.63 | 25,495 | 372,992 | 1,113,577 | Form |
| 2 | Barrett, Russell | SEVP, Chief Operating Officer | Direct | Sell | 4282026 | 13.54 | 90,537 | 1,225,871 | 868,821 | Form |
| 3 | Vazquez, Carlos J | Direct | Buy | 2182026 | 13.45 | 2,500 | 33,612 | 57,168 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Crandell, Mitchell L | EVP & Chief Accounting Officer | Direct | Sell | 6152026 | 14.63 | 25,495 | 372,992 | 1,113,577 | Form |
| 2 | Barrett, Russell | SEVP, Chief Operating Officer | Direct | Sell | 4282026 | 13.54 | 90,537 | 1,225,871 | 868,821 | Form |
| 3 | Vazquez, Carlos J | Direct | Buy | 2182026 | 13.45 | 2,500 | 33,612 | 57,168 | Form |
Investor Activity (13F)
Updated Sep 23, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
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