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    Valley National Bancorp (VLY)

    Market Price (11/8/2026): $14.075 | Market Cap: $7.7 BilSector: Financials | Industry: Regional Banks

    Valley National Bancorp (VLY)

    Market Price (11/8/2026): $14.075
    Market Cap: $7.7 Bil
    Sector: Financials
    Industry: Regional Banks

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

    0

    Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, Dividend Yield is 3.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.3%, FCF Yield is 12%

    Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 43%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 43%

    Low stock price volatility
    Vol 12M is 25%

    Uninsured deposits are low
    Uninsured 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 drivers
    Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Digital Payments.

    Moderate capital ratio
    Tier 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%

    Meaningful short interest
    Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10%

    Key risks
    VLY key risks include [1] a substantial concentration in commercial real estate loans, Show more.

    0 Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, Dividend Yield is 3.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.3%, FCF Yield is 12%
    1 Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 43%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 43%
    2 Low stock price volatility
    Vol 12M is 25%
    3 Uninsured deposits are low
    Uninsured 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%
    4 Megatrend and thematic drivers
    Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Digital Payments.
    5 Moderate capital ratio
    Tier 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%
    6 Meaningful short interest
    Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10%
    7 Key risks
    VLY key risks include [1] a substantial concentration in commercial real estate loans, Show more.

    VLY in ETFs

    Weight = VLY's share of each fund

    VTI0.01%
    ITOT0.01%
    IWM0.24%
    IJH0.20%
    VYM0.03%
    VB0.07%
    KRE1.2%
    DVY0.61%
    +20 more covered ETFs

    Valuation & Metrics

    FYE: 12/31VLY [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$2.2 Bil—
    FY 2026 Sales$2.3 Bil—
    FY 2027 Sales$2.7 Bil—
    FY 2026 Sales Growth2.6%—
    FY 2027 Sales Growth19.9%8.6%
    EARNINGS
    LTM Net Income (GAAP) [3]$736.5 Mil—
    FY 2026 Net Income (Non-GAAP)$722.0 Mil—
    FY 2027 Net Income (Non-GAAP)$860.9 Mil—
    FY 2027 Net Income Growth19.2%13.9%
    FY 2026 EPS (Non-GAAP)$1.30—
    FY 2027 EPS (Non-GAAP)$1.53—
    FY 2027 EPS Growth17.9%—
    VALUATION
    FY 2026 P/S3.41.7
    FY 2027 P/S2.8—
    FY 2026 P/E10.78.6
    FY 2027 P/E9.0—

    [1] VLY forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
    [2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 11/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
    [3] LTM = reported trailing-twelve-month actuals (GAAP).
    VLYS&P 500
    REVENUE GROWTHFAIR
    Rev LTM ($ Bil)2.2
    Rev Chg Q13.7%8.7%
    Rev Chg LTM13.5%8.6%
    Rev Chg 3Y Avg4.8%6.4%
    PROFITABILITYVERY GOOD
    Op Inc LTM ($ Bil)�
    CFO LTM ($ Bil)1.0
    Net Inc LTM ($ Bil)0.7
    CFO/Rev LTM42.8%21.4%
    Net Inc Mgn33.1%13.5%
    VALUATIONLOW
    P/S3.53.1
    P/CFO8.215.2
    P/FCF8.220.1
    P/E10.621.8

    AI Analysis | Feedback

    MetricValueDateSource
    Number of Employees373212312024Link
    Total Assets62.492B12312024Link
    Total Deposits49.2B12312023Link
    Total Loans48.8B12312024Link
    Number of Branch Locations230+11102024Link
    Allowance for Credit Losses for Loans to Total Loans0.92 percent6302023Link
    Non-Performing Assets373.3M12312024Link

    Price Chart

    Upcoming
    12/15/2026DividendAmount: $0.11
    Payment On: 1/04/2027
    1/28/2027Earnings ReleaseRev: $596 Mil (E)
    EPS: $0.36 (E)

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 11/1/2026

    Valley National Bancorp (VLY) stock has remained largely at the same level since 7/31/2026 because of the following key factors:

    1. Strong Fiscal Q3 2026 Financial Performance Exceeded Expectations.

    Valley National Bancorp reported net income of $206.3 million, or $0.36 per diluted common share, for fiscal Q3 2026 (ended September 30, 2026). This surpassed the average analyst estimate of $0.33 per share. Revenue for the quarter also beat expectations, reaching $584.2 million against estimates of approximately $578 million, marking a 14% year-over-year increase. The company further demonstrated improved operational efficiency, with its non-GAAP efficiency ratio falling to 49.4%, below 50% for the first time since fiscal Q3 2021 and better than the approximately 52% consensus estimate. This robust financial performance likely provided a floor for the stock price, contributing to its stability.

    2. Expanding Net Interest Margin Amidst a Favorable Interest Rate Environment.

    The company experienced an expansion in its net interest margin (NIM) during fiscal Q3 2026, reaching 3.28% on a tax-equivalent basis. This was an increase of 23 basis points year-over-year. Management indicated expectations for further NIM expansion in fiscal Q4 2026 and beyond. This positive trend in net interest income, a core driver of bank profitability, was supported by an environment of rising interest rates, as the Federal Reserve increased its policy rate by 25 basis points in mid-September 2026. The ability to manage funding costs while increasing asset yields helped maintain profitability and investor confidence.

    Show more
    Updated on 11/1/2026

    Valley National Bancorp (VLY) stock has remained largely at the same level since 7/31/2026 because of the following key factors:

    1. Strong Fiscal Q3 2026 Financial Performance Exceeded Expectations.

    Valley National Bancorp reported net income of $206.3 million, or $0.36 per diluted common share, for fiscal Q3 2026 (ended September 30, 2026). This surpassed the average analyst estimate of $0.33 per share. Revenue for the quarter also beat expectations, reaching $584.2 million against estimates of approximately $578 million, marking a 14% year-over-year increase. The company further demonstrated improved operational efficiency, with its non-GAAP efficiency ratio falling to 49.4%, below 50% for the first time since fiscal Q3 2021 and better than the approximately 52% consensus estimate. This robust financial performance likely provided a floor for the stock price, contributing to its stability.

    2. Expanding Net Interest Margin Amidst a Favorable Interest Rate Environment.

    The company experienced an expansion in its net interest margin (NIM) during fiscal Q3 2026, reaching 3.28% on a tax-equivalent basis. This was an increase of 23 basis points year-over-year. Management indicated expectations for further NIM expansion in fiscal Q4 2026 and beyond. This positive trend in net interest income, a core driver of bank profitability, was supported by an environment of rising interest rates, as the Federal Reserve increased its policy rate by 25 basis points in mid-September 2026. The ability to manage funding costs while increasing asset yields helped maintain profitability and investor confidence.

    3. Strategic Acquisitions and Positive Long-Term Outlook.

    Valley National Bancorp announced pending acquisitions of Providence Financial Corporation and Bluevine Inc., which are anticipated to close in early 2027. These acquisitions are strategically important as they are expected to add over $3.5 billion in low-cost core deposits and expand the bank's digital capabilities and market presence. Furthermore, management reiterated its confidence in achieving a return on average tangible common equity of 15% by the end of 2027, highlighting a positive long-term outlook for profitability. These future growth prospects likely offset some short-term market fluctuations, contributing to the stock's steady performance.

    4. Balancing Act with Macroeconomic Headwinds.

    Despite strong company-specific performance, broader macroeconomic factors during fiscal Q3 and early Q4 2026 presented a mixed picture for the banking sector, which likely tempered more significant upward movement in VLY's stock. Persistent inflation and the anticipation of additional interest rate hikes by the Federal Reserve, along with geopolitical uncertainties, contributed to an environment of caution among investors. While higher rates benefited net interest margins, concerns about their impact on credit quality (e.g., net charge-offs increased to 28 basis points in Q3 2026) and the broader economic outlook likely created a counterbalance to the positive company news, resulting in the stock remaining largely at the same level.

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    Stock Movement Drivers

    Fundamental Drivers

    The -0.7% change in VLY stock from 7/31/2026 to 11/7/2026 was primarily driven by a -12.1% change in the company's P/E Multiple.
    (LTM values as of)731202611072026Change
    Stock Price ($)14.1814.08-0.7%
    Change Contribution By: 
    Total Revenues ($ Mil)2,0882,2236.5%
    Net Income Margin (%)31.4%33.1%5.4%
    P/E Multiple12.010.6-12.1%
    Shares Outstanding (Mil)5565520.6%
    Cumulative Contribution-0.7%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    7/31/2026 to 11/7/2026
    ReturnCorrelation
    VLY-0.7% 
    Market (SPY)-1.6%29.5%
    Sector (XLF)0.4%61.2%

    Fundamental Drivers

    The 5.4% change in VLY stock from 4/30/2026 to 11/7/2026 was primarily driven by a 12.2% change in the company's Net Income Margin (%).
    (LTM values as of)430202611072026Change
    Stock Price ($)13.3614.085.4%
    Change Contribution By: 
    Total Revenues ($ Mil)2,0262,2239.8%
    Net Income Margin (%)29.5%33.1%12.2%
    P/E Multiple12.510.6-15.3%
    Shares Outstanding (Mil)5585521.0%
    Cumulative Contribution5.4%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    4/30/2026 to 11/7/2026
    ReturnCorrelation
    VLY5.4% 
    Market (SPY)2.6%29.4%
    Sector (XLF)10.0%58.6%

    Fundamental Drivers

    The 34.0% change in VLY stock from 10/31/2025 to 11/7/2026 was primarily driven by a 39.9% change in the company's Net Income Margin (%).
    (LTM values as of)1031202511072026Change
    Stock Price ($)10.5114.0834.0%
    Change Contribution By: 
    Total Revenues ($ Mil)1,9122,22316.3%
    Net Income Margin (%)23.7%33.1%39.9%
    P/E Multiple13.010.6-18.8%
    Shares Outstanding (Mil)5605521.4%
    Cumulative Contribution34.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    10/31/2025 to 11/7/2026
    ReturnCorrelation
    VLY34.0% 
    Market (SPY)8.7%36.2%
    Sector (XLF)10.5%57.0%

    Fundamental Drivers

    The 107.2% change in VLY stock from 10/31/2023 to 11/7/2026 was primarily driven by a 96.3% change in the company's P/E Multiple.
    (LTM values as of)1031202311072026Change
    Stock Price ($)6.7914.08107.2%
    Change Contribution By: 
    Total Revenues ($ Mil)1,9942,22311.5%
    Net Income Margin (%)32.2%33.1%3.0%
    P/E Multiple5.410.696.3%
    Shares Outstanding (Mil)508552-8.1%
    Cumulative Contribution107.2%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    10/31/2023 to 11/7/2026
    ReturnCorrelation
    VLY107.2% 
    Market (SPY)81.9%46.1%
    Sector (XLF)84.4%60.4%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    VLY Return46%-15%1%-12%35%24%84%
    Peers Return37%8%-4%29%21%7%136%
    S&P 500 Return27%-19%24%23%16%12%105%

    Monthly Win Rates [3]
    VLY Win Rate75%50%50%50%75%55% 
    Peers Win Rate71%52%48%54%62%40% 
    S&P 500 Win Rate75%42%67%75%67%45% 

    Max Drawdowns [4]
    VLY Max Drawdown-18%-31%-47%-38%-23%-18% 
    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 11/6/2026 (YTD)

    How Low Can It Go

    EventVLYS&P 500
    2025 US Tariff Shock
      % Loss-20.5%-18.8%
      % Gain to Breakeven25.8%23.1%
      Time to Breakeven124 days79 days
    Summer-Fall 2023 Five Percent Yield Shock
      % Loss-20.0%-9.5%
      % Gain to Breakeven24.9%10.5%
      Time to Breakeven35 days24 days
    2023 SVB Regional Banking Crisis
      % Loss-46.0%-6.7%
      % Gain to Breakeven85.2%7.1%
      Time to Breakeven860 days31 days
    2022 Inflation Shock & Fed Tightening
      % Loss-25.9%-24.5%
      % Gain to Breakeven35.0%32.4%
      Time to Breakeven1245 days427 days
    2020 COVID-19 Crash
      % Loss-41.3%-33.7%
      % Gain to Breakeven70.3%50.9%
      Time to Breakeven278 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-25.8%-19.2%
      % Gain to Breakeven34.7%23.8%
      Time to Breakeven218 days105 days

    Compare to FNB, FHN, PNFP, BKU, EWBC

    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.

    EventVLYS&P 500
    2025 US Tariff Shock
      % Loss-20.5%-18.8%
      % Gain to Breakeven25.8%23.1%
      Time to Breakeven124 days79 days
    2023 SVB Regional Banking Crisis
      % Loss-46.0%-6.7%
      % Gain to Breakeven85.2%7.1%
      Time to Breakeven860 days31 days
    2022 Inflation Shock & Fed Tightening
      % Loss-25.9%-24.5%
      % Gain to Breakeven35.0%32.4%
      Time to Breakeven1245 days427 days
    2020 COVID-19 Crash
      % Loss-41.3%-33.7%
      % Gain to Breakeven70.3%50.9%
      Time to Breakeven278 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-25.8%-19.2%
      % Gain to Breakeven34.7%23.8%
      Time to Breakeven218 days105 days
    2011 US Debt Ceiling Crisis & European Contagion
      % Loss-26.8%-17.9%
      % Gain to Breakeven36.5%21.8%
      Time to Breakeven186 days123 days
    2008-2009 Global Financial Crisis
      % Loss-49.5%-53.4%
      % Gain to Breakeven97.8%114.4%
      Time to Breakeven385 days1085 days

    Compare to FNB, FHN, PNFP, BKU, EWBC

    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.

    AI Analysis | Feedback

    • 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

    ```html

    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:

    • 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.

    • 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.

    • 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.

    ```

    AI Analysis | Feedback

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    AI Analysis | Feedback

    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.

    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)

    1. 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.
    2. 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.
    3. 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.

    AI Analysis | Feedback

    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.

    AI Analysis | Feedback

    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:

    1. 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.
    2. 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.
    3. 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.
    4. 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 71% of its 265 Regional Banks peers over 5Y. Among the peers that beat it are FBP, BPOP and SRCE. Regional Banks ranks 8th 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
    52%
    of 286 industry peers · 31.8% return
    3Y
    64%
    of 277 industry peers · 102.3% return
    5Y
    29%
    of 265 industry peers · 21.5% return
    Regional Banks peers with revenue growth within 4pp of VLY's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
    Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
    VLY Valley National Bancorp 4.8% 10.6x 31.8%102.3%21.5% —
    FBP First BanCorp 3.3% 10.7x 34.3%104.2%117.8% +96pp
    BPOP Popular 2.8% 10.3x 39.8%148.8%117.7% +96pp
    SRCE 1st Source 7.5% 11.8x 46.2%100.1%95.0% +73pp
    EWBC East West Bancorp 6.6% 12.1x 27.3%146.0%76.4% +55pp
    FULT Fulton Financial 8.8% 11.0x 39.6%96.5%72.9% +51pp
    Price returns, excluding dividends. P/E shown for context only and not used for matching.
    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 med3Y med5Y med Top 3 by 5Y
    Reinsurance 6 29.4%73.3%120.1% SPNT 168% · RGA 162% · RNR 136%
    Diversified Banks 12 28.4%141.4%89.7% CM 143% · RY 126% · JPM 125%
    Investment Banking & Brokerage 13 -6.7%91.1%87.0% IBKR 322% · SNEX 156% · GS 140%
    Multi-Sector Holdings 4 8.8%60.8%79.3% BRK-B 98% · VOYA 60% · JEF 34%
    Life & Health Insurance 20 9.7%55.7%74.8% JXN 510% · UNM 237% · FG 211%
    Property & Casualty Insurance 42 13.8%74.5%65.5% TRV 172% · PGR 165% · ACGL 160%
    Multi-line Insurance 9 5.4%70.4%56.4% AIZ 105% · GNW 99% · L 95%
    Regional Banks ← 266 29.4%88.2%46.4% CBC 272% · FCNCA 172% · NIC 137%
    Insurance Brokers 15 2.2%9.7%31.9% LIFE 298% · ARX 89% · WTW 52%
    Financial Exchanges & Data 15 16.6%31.5%22.5% CBOE 183% · VIRT 130% · CME 70%
    Asset Management & Custody Banks 85 -6.7%20.6%12.7% VCTR 229% · WT 212% · AAMI 204%
    Consumer Finance 30 2.5%83.5%5.0% ENVA 326% · FCFS 128% · AXP 93%
    Commercial & Residential Mortgage Finance 14 -43.9%32.9%2.1% FNMA 344% · FMCC 301% · ACT 151%
    Diversified Financial Services 4 -6.2%21.6%-1.4% FRHC 155% · EQH 70%
    Specialized Finance 3 25.4%30.8%-21.2% HASI -21% · CACC -23%
    Transaction & Payment Processing Services 17 23.6%8.8%-27.5% V 103% · MA 93% · CPAY 86%
    Mortgage REITs 35 -20.5%-11.6%-39.4% RITM 33% · DX 16% · AGNC 10%
    Diversified Capital Markets 20 -47.8%-2.6%-68.1% LPLA 80% · TW 38% · RIOT -47%
    Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

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    Financials

    VLYFNBFHNPNFPBKUEWBCMedian
    NameValley N.F N B First Ho.Pinnacle.BankUnit.East Wes. 
    Mkt Price14.0717.9123.04100.6344.03128.6033.54
    Mkt Cap7.86.310.915.23.117.79.3
    Rev LTM2,2231,8402,9413,9951,1563,1122,582
    Op Inc LTM-------
    FCF LTM9527231,8191,4235232,0811,187
    FCF 3Y Avg4564891,2009694181,613729
    CFO LTM9528281,8821,5085232,2111,230
    CFO 3Y Avg4566011,2491,0544181,658828

    Growth & Margins

    VLYFNBFHNPNFPBKUEWBCMedian
    NameValley N.F N B First Ho.Pinnacle.BankUnit.East Wes. 
    Rev Chg LTM13.5%9.5%-7.0%116.1%10.1%10.7%10.4%
    Rev Chg 3Y Avg4.8%4.0%-3.1%48.8%5.2%6.6%5.0%
    Rev Chg Q13.7%2.6%-56.1%151.3%0.1%5.7%4.2%
    QoQ Delta Rev Chg LTM3.3%0.7%-14.2%23.5%0.0%1.4%1.0%
    Op Inc Chg LTM-------
    Op Inc Chg 3Y Avg-------
    Op Mgn LTM-------
    Op Mgn 3Y Avg-------
    QoQ Delta Op Mgn LTM-------
    CFO/Rev LTM42.8%45.0%64.0%37.7%45.2%71.0%45.1%
    CFO/Rev 3Y Avg21.2%34.8%41.0%45.2%39.0%58.3%40.0%
    FCF/Rev LTM42.8%39.3%61.8%35.6%45.2%66.9%44.0%
    FCF/Rev 3Y Avg21.2%28.1%39.4%40.9%39.0%56.8%39.2%

    Valuation

    VLYFNBFHNPNFPBKUEWBCMedian
    NameValley N.F N B First Ho.Pinnacle.BankUnit.East Wes. 
    Mkt Cap7.86.310.915.23.117.79.3
    P/S3.53.43.73.82.75.73.6
    P/Op Inc-------
    P/EBIT-------
    P/E10.610.415.414.811.212.111.7
    P/CFO8.27.75.810.15.98.07.8
    Total Yield12.6%12.4%9.4%8.3%12.0%10.6%11.3%
    Dividend Yield3.2%2.8%2.9%1.6%3.1%2.3%2.9%
    FCF Yield 3Y Avg6.7%8.4%12.3%-14.7%11.3%11.3%
    D/E0.40.60.20.70.70.20.5
    Net D/E0.2-0.3-0.6-1.0-2.3-0.1-0.4

    Returns

    VLYFNBFHNPNFPBKUEWBCMedian
    NameValley N.F N B First Ho.Pinnacle.BankUnit.East Wes. 
    1M Rtn10.4%3.6%-1.2%6.8%4.1%2.5%3.9%
    3M Rtn-2.5%-4.9%-8.9%-3.4%-4.5%-1.8%-3.9%
    6M Rtn6.6%1.5%-5.1%3.8%-5.9%5.9%2.7%
    12M Rtn31.8%14.7%10.0%7.9%12.5%27.0%13.6%
    3Y Rtn102.2%75.5%124.2%7.9%108.4%145.5%105.3%
    1M Excs Rtn15.4%8.7%3.8%11.8%9.1%7.5%8.9%
    3M Excs Rtn1.7%0.0%-3.2%1.6%0.8%3.0%1.2%
    6M Excs Rtn6.9%1.8%-4.8%4.1%-5.6%6.1%3.0%
    12M Excs Rtn24.7%7.7%1.6%-0.6%3.5%22.5%5.6%
    3Y Excs Rtn33.9%9.8%61.8%-66.1%45.6%83.7%39.7%

    Comparison Analyses

    null

    FDIC Bank Data

    Bank Assets

    FDIC Data As Of12312011
    ASSETS 
    Cash Balance ($ Bil)0
    Securities ($ Bil)3
    Net Loans ($ Bil)10
    Trading Assets ($ Bil)0
    Bank Premises Assets ($ Bil)0
    Other Real Estate Owned ($ Bil)0
    Goodwill & Intangibles ($ Bil)0
    Other Assets ($ Bil)1
    Total Assets (Sum) ($ Bil)14
    Total Assets (Reported) ($ Bil)14
    Risk Weighted Assets ($ Bil)10
    SECURITIES DETAILS 
    US Govt Securities ($ Bil)2
    Equity Securities Not Held for Trading ($ Bil)0
    Total Debt Securities ($ Bil)2
    Mortgage-Backed Securities ($ Bil)1
    SECURITIES VALUATION 
    Securities Held to Maturity (Book Value) ($ Bil)2
    Securities Available for Sale (Fair Market) ($ Bil)1

    Bank Loans

    FDIC Data As Of12312011
    LOAN DETAILS 
    All Real Estate Loans ($ Bil)7
    Farm Loans ($ Bil)0
    Commercial and Industrial Loans ($ Bil)2
    Loans to Individuals (CC, revolving credit, auto, other) (non-mortgage) ($ Bil)1
    Commercial Real Estate Loans not Secured by Real Estate ($ Bil)0
    Commercial Real Estate Owner-Occupied ($ Bil)1
    Commercial Real Estate Other Non-Farm Non-Residential ($ Bil)2
    Total Net Loans ($ Bil)10

    Financials

    $ Mil | FY: 12/312026Q32026Q22026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q4
    Period End9/30/20266/30/20263/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/2023
    Filing Date11/5/20268/6/20265/7/20262/27/202611/7/20258/7/20255/8/20252/28/202511/12/20248/8/20245/8/20242/29/2024
    Key Financials Quarterly            
    Total Revenue581561540541511495478475464453451450
    Net Income20617116419516313310611698709672
    EPS0.360.300.280.340.280.230.180.200.180.130.180.13
    Key Financials TTM            
    Total Revenue TTM2,2232,1532,0882,0261,9591,9121,8701,8431,8181,8191,8461,880
    Net Income TTM737694656598518453390380336380448499
    Growth Rates Quarterly            
    Total Revenue Growth13.7%13.3%12.9%14.0%10.2%9.3%6.0%5.4%-0.1%-5.7%-7.0%-13.2%
    Net Income Growth26.3%28.3%54.6%68.9%66.9%89.1%10.2%61.7%-30.8%-49.4%-34.3%-59.7%
    Margins Quarterly            
    Net Income Margin35.5%30.5%30.3%36.1%32.0%26.9%22.2%24.4%21.1%15.5%21.3%15.9%
    Cash & Debt            
    Total Cash1,1421,0371,2131,6341,6091,5431,5785,2601,0821,0369642,188
    Total Debt3,0143,3962,9833,3393,3413,4533,3563,6203,7273,7203,7163,639
    Net Debt / (Cash)1,8722,3591,7701,7051,7331,9101,778-1,6402,6452,6842,7521,451
    Cash Flows Quarterly            
    FCF from Operations3821642101975159-17392-157214100-279
    Cash Flows TTM            
    FCF from Operations TTM952575571344539377432549-122409747378
    Returns to Shareholders Quarterly            
    Dividends616163626262635856565856
    Share Repurchases35206247134900170
    Return on Invested Capital (ROIC) Quarterly            
    ROIC11.2%8.5%8.7%10.3%8.6%6.8%5.6%8.5%4.9%3.6%4.8%4.3%
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM10.0%8.6%8.7%7.9%6.8%5.8%5.1%9.1%4.2%4.8%5.6%7.5%

    Segment Financials

    Revenue by Segment
    $ Mil20252024202320222021
    Commercial Banking1,4791,4641,5291,413987
    Consumer Banking392315270331292
    Treasury and Corporate Other144749211886
    Total2,0161,8531,8911,8621,365


    Operating Income by Segment
    $ Mil20152014201320122011
    Commercial Banking30824022513951
    Consumer Banking11594112246110
    Investment Management6367596942
    Corporate and Other-359-254-216-243-6
    Total127147179210197


    Assets by Segment
    $ Mil200520042002
    Commercial Banking3,9573,2492,767
    Consumer Banking3,6793,2942,755
    Investment Management3,3533,0742,589
    Total10,9899,6168,110


    Price Behavior

    Price Behavior
    Market Price$14.08 
    Market Cap ($ Bil)7.8 
    First Trading Date03/23/1990 
    Distance from 52W High-6.6% 
       50 Days200 Days
    DMA Price$13.38$13.36
    DMA Trenddownup
    Distance from DMA5.2%5.4%
     3M1YR
    Volatility24.7%25.1%
    Downside Capture44.3555.77
    Upside Capture42.6384.23
    Correlation (S&P 500)23.3%35.8%
    VLY Betas & Captures as of 10/31/2026

     1M2M3M6M1Y3Y
    Beta-0.310.140.450.450.681.08
    Up Beta-2.38-1.510.430.150.721.09
    Down Beta-0.41-0.58-0.420.000.360.95
    Up Capture87%78%64%68%86%157%
    Bmk +ve Days12182862130427
    Stock +ve Days11202861129378
    Down Capture-97%38%73%69%71%104%
    Bmk -ve Days10253664121325
    Stock -ve Days11233563118361

    [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
    VLY33.4%25.1%1.09-
    Sector ETF (XLF)10.0%15.3%0.4157.6%
    Equity (SPY)9.5%13.6%0.4035.7%
    Gold (GLD)1.6%28.7%0.0514.8%
    Commodities (DBC)38.4%21.2%1.42-22.5%
    Real Estate (VNQ)11.3%14.2%0.5144.5%
    Bitcoin (BTCUSD)-27.2%43.6%-0.615.9%

    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
    VLY5.7%37.1%0.23-
    Sector ETF (XLF)9.0%18.4%0.3562.3%
    Equity (SPY)11.3%17.3%0.4850.1%
    Gold (GLD)17.5%19.1%0.743.7%
    Commodities (DBC)8.1%19.6%0.308.2%
    Real Estate (VNQ)1.3%18.9%-0.0451.4%
    Bitcoin (BTCUSD)4.0%51.6%0.2621.4%

    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
    VLY8.1%36.5%0.32-
    Sector ETF (XLF)13.2%22.1%0.5471.5%
    Equity (SPY)15.0%18.0%0.7054.8%
    Gold (GLD)11.9%16.5%0.59-2.7%
    Commodities (DBC)7.5%18.1%0.3317.8%
    Real Estate (VNQ)5.9%20.7%0.2451.9%
    Bitcoin (BTCUSD)60.0%66.3%1.0015.1%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Short Interest

    Short Interest: As Of Date10152026
    Short Interest: Shares Quantity56.9 Mil
    Short Interest: % Change Since 9302026-4.0%
    Average Daily Volume6.6 Mil
    Days-to-Cover Short Interest8.7 days
    Basic Shares Quantity552.4 Mil
    Short % of Basic Shares10.3%

    Returns Analyses

    Earnings Returns History

    Updated 11/1/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    10/22/20266.1%8.3% 
    7/23/2026-0.5%-1.7%-2.8%
    4/23/20263.9%0.5%1.2%
    1/29/2026-1.7%6.9%1.1%
    10/23/20254.2%8.2%3.5%
    7/24/2025-1.8%-3.2%-0.2%
    4/24/2025-1.6%-0.2%-0.3%
    1/23/20254.0%4.8%-3.0%
    ...
    SUMMARY STATS   
    # Positive121315
    # Negative12118
    Median Positive3.2%4.8%3.5%
    Median Negative-1.6%-1.7%-4.1%
    Max Positive6.1%10.1%21.6%
    Max Negative-5.8%-19.9%-20.5%
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    10/22/20266.1%8.3% 
    7/23/2026-0.5%-1.7%-2.8%
    4/23/20263.9%0.5%1.2%
    1/29/2026-1.7%6.9%1.1%
    10/23/20254.2%8.2%3.5%
    7/24/2025-1.8%-3.2%-0.2%
    4/24/2025-1.6%-0.2%-0.3%
    1/23/20254.0%4.8%-3.0%
    10/24/2024-3.4%-1.4%10.0%
    7/25/20242.0%-1.6%10.2%
    4/25/2024-5.8%-3.5%-5.3%
    1/25/20240.2%-13.2%-20.5%
    10/26/2023-1.5%4.8%10.7%
    7/27/20231.2%-0.3%-12.7%
    4/27/20235.3%-19.9%-14.3%
    1/26/2023-0.1%10.1%1.8%
    10/27/20224.8%2.3%8.0%
    7/28/20220.8%-0.2%4.6%
    4/28/2022-3.1%-1.8%3.3%
    1/27/20222.5%3.4%4.6%
    10/28/2021-2.2%3.5%1.8%
    7/22/20211.3%3.2%3.4%
    4/29/2021-1.5%4.1%2.5%
    1/28/2021-1.4%5.3%21.6%
    SUMMARY STATS   
    # Positive121315
    # Negative12118
    Median Positive3.2%4.8%3.5%
    Median Negative-1.6%-1.7%-4.1%
    Max Positive6.1%10.1%21.6%
    Max Negative-5.8%-19.9%-20.5%

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    09/30/202611/05/202610-Q
    06/30/202608/06/202610-Q
    03/31/202605/07/202610-Q
    12/31/202502/27/202610-K
    09/30/202511/07/202510-Q
    06/30/202508/07/202510-Q
    03/31/202505/08/202510-Q
    12/31/202402/28/202510-K
    09/30/202411/12/202410-Q
    06/30/202408/08/202410-Q
    03/31/202405/08/202410-Q
    12/31/202302/29/202410-K
    09/30/202311/09/202310-Q
    06/30/202308/07/202310-Q
    03/31/202305/08/202310-Q
    12/31/202203/01/202310-K
     Collapse to Preview
    Report DateFiling DateFiling
    09/30/202611/05/202610-Q
    06/30/202608/06/202610-Q
    03/31/202605/07/202610-Q
    12/31/202502/27/202610-K
    09/30/202511/07/202510-Q
    06/30/202508/07/202510-Q
    03/31/202505/08/202510-Q
    12/31/202402/28/202510-K
    09/30/202411/12/202410-Q
    06/30/202408/08/202410-Q
    03/31/202405/08/202410-Q
    12/31/202302/29/202410-K
    09/30/202311/09/202310-Q
    06/30/202308/07/202310-Q
    03/31/202305/08/202310-Q
    12/31/202203/01/202310-K
    09/30/202211/08/202210-Q
    06/30/202208/09/202210-Q
    03/31/202205/09/202210-Q
    12/31/202102/28/202210-K
    09/30/202111/08/202110-Q
    06/30/202108/06/202110-Q
    03/31/202105/07/202110-Q
    12/31/202002/26/202110-K
    09/30/202011/06/202010-Q
    06/30/202008/07/202010-Q
    03/31/202005/11/202010-Q
    12/31/201903/10/202010-K

    Insider Activity

    Updated 8/4/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Crandell, Mitchell LEVP & Chief Accounting OfficerDirectSell615202614.6325,495372,9921,113,577Form
    2Barrett, RussellSEVP, Chief Operating OfficerDirectSell428202613.5490,5371,225,871868,821Form
    3Vazquez, Carlos J DirectBuy218202613.452,50033,61257,168Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Crandell, Mitchell LEVP & Chief Accounting OfficerDirectSell615202614.6325,495372,9921,113,577Form
    2Barrett, RussellSEVP, Chief Operating OfficerDirectSell428202613.5490,5371,225,871868,821Form
    3Vazquez, Carlos J DirectBuy218202613.452,50033,61257,168Form

    Investor Activity (13F)

    Updated Nov 8, 2026
    13F 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 ManagerValue% of PortfolioTotal PositionsQoQFiling
    Azora Capital LP$109.9 Mil7.2%45ADD +14.8%13F
    Endeavour Capital Advisors Inc$20.4 Mil4.6%42ADD +28.4%13F
    Cander Asset Management LP$24.5 Mil4.4%43ADD +53.5%13F
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Cander Asset Management LP$24.5 Mil4.4%43ADD +53.5%13F
    Endeavour Capital Advisors Inc$20.4 Mil4.6%42ADD +28.4%13F
    Azora Capital LP$109.9 Mil7.2%45ADD +14.8%13F
    Active Manager
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Azora Capital LP$109.9 Mil7.2%45ADD +14.8%13F
    Cander Asset Management LP$24.5 Mil4.4%43ADD +53.5%13F
    Endeavour Capital Advisors Inc$20.4 Mil4.6%42ADD +28.4%13F

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    Core Cache Last Updated: 11/7/2026