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.

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