Valley National VLY shares rallied 7.7% in the last trading session to close at $8.57. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 7.2% loss over the past four weeks.

Valley National stock rallied, driven by a massive jump in the broad markets. The jump was attributable to President Donald Trump’s announcement of a 90-day tariff pause for the non-retaliating nations. This cheered the investors, driving the VLY stock higher.

This holding company for Valley National Bank is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $485.93 million, up 6.8% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Valley National, the consensus EPS estimate for the quarter has been revised 0.9% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on VLY going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Valley National is part of the Zacks Banks - Northeast industry. SmarFinancial SMBK, another stock in the same industry, closed the last trading session 3.1% higher at $28.45. SMBK has returned -10.6% in the past month.

SmarFinancial's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.55. Compared to the company's year-ago EPS, this represents a change of +12.2%. SmarFinancial currently boasts a Zacks Rank of #3 (Hold).

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This article originally published on Zacks Investment Research (zacks.com).

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