NEW YORK ( TheStreet) -- Valley National Bancorp (NYSE: VLY) is trading at unusually high volume Friday with 5.7 million shares changing hands. It is currently at 4.4 times its average daily volume and trading up 28 cents (+2.3%) at $12.26 as of 4:01 p.m. ET. Valley has a market cap of $2 billion and is part of the financial sector and banking industry. Shares are down 16.2% year to date as of the close of trading on Thursday. Valley National Bancorp operates as the bank holding company for Valley National Bank that provides a range of commercial, retail, trust, and investment services. The company has a P/E ratio of 13.9, equal to the average banking industry P/E ratio and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Valley as a hold. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, premium valuation and weak operating cash flow. You can view the full Valley Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are rising on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVUP to 95370 or select from multiple alert options.