Valley National Bancorp (VLY)
A bank holding company, through its subsidiary provides a full range of commercial and retail banking services.
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"Getting paid to wait" never seemed to reasonable ...
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strong enough to pay back the treasury
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profit tumbles 78%... downgraded... high debt... poor ROE... large short interest
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Not yet safe to call a winner and surviver. Banks are not good sector yet.
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Here's a regional bank that avoided the sub-prime dilema,is located in affluent areas,good management,good dividend and earnings.Might be a takeover target???????
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I have read their balance sheet and they have no bad loans on their
books - they did not participate in the sub prime loans or hedge funs.
they are an extremely conservative bank and Gerald Lipkin has done a terrific job of running the bank.
Unfortunately, your other large banks, such as Citi, Bank of America, Bear Stearns, Goldman Sachs, Morgan, Wachovia, participated in the Sub Prime and it backfired on them.
I feel Valley National Bank is a blue ribbon pick!!!!
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Better places to park your money!
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BUY AND HOLD NEVER SELL
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growing bank in growing area
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Solid in a beat up sector.
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Takeover target for BAC as soon as they get those pesky govt regulations cleared up
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