Analysts expect that Amalgamated Bank (NASDAQ:AMAL) will report $49.80 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Amalgamated Bank’s earnings, with the highest sales estimate coming in at $50.88 million and the lowest estimate coming in at $48.71 million. Amalgamated Bank posted sales of $47.76 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.3%. The company is scheduled to report its next earnings report before the market opens on Thursday, January 30th.
On average, analysts expect that Amalgamated Bank will report full-year sales of $195.68 million for the current financial year, with estimates ranging from $194.65 million to $196.70 million. For the next fiscal year, analysts forecast that the firm will report sales of $201.80 million, with estimates ranging from $198.02 million to $205.57 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Amalgamated Bank.
Amalgamated Bank (NASDAQ:AMAL) last issued its earnings results on Monday, October 28th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $49.42 million during the quarter, compared to analyst estimates of $48.29 million.
A number of research analysts recently commented on AMAL shares. TheStreet upgraded Amalgamated Bank from a “d” rating to a “c” rating in a research note on Monday. ValuEngine upgraded Amalgamated Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Barclays increased their price objective on Amalgamated Bank from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Zacks Investment Research upgraded Amalgamated Bank from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective for the company in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Amalgamated Bank currently has a consensus rating of “Buy” and an average price target of $20.67.
A number of institutional investors have recently added to or reduced their stakes in AMAL. Bank of Montreal Can acquired a new position in Amalgamated Bank during the second quarter worth $30,000. JPMorgan Chase & Co. raised its stake in Amalgamated Bank by 31.9% during the second quarter. JPMorgan Chase & Co. now owns 3,806 shares of the company’s stock worth $66,000 after acquiring an additional 920 shares in the last quarter. Marshall Wace LLP acquired a new position in Amalgamated Bank during the first quarter worth $135,000. Rhumbline Advisers raised its stake in Amalgamated Bank by 9.6% during the third quarter. Rhumbline Advisers now owns 20,107 shares of the company’s stock worth $322,000 after acquiring an additional 1,765 shares in the last quarter. Finally, Voya Investment Management LLC acquired a new position in Amalgamated Bank during the third quarter worth $322,000. Hedge funds and other institutional investors own 38.74% of the company’s stock.
Shares of NASDAQ AMAL traded down $0.15 during trading hours on Friday, reaching $18.95. The stock had a trading volume of 32,661 shares, compared to its average volume of 44,800. The business’s fifty day moving average is $19.42 and its two-hundred day moving average is $17.56. The company has a market cap of $602.06 million, a price-to-earnings ratio of 13.93 and a beta of 0.43. Amalgamated Bank has a twelve month low of $14.58 and a twelve month high of $20.50.
Amalgamated Bank Company Profile
Amalgamated Bank, together with its subsidiaries, provides commercial banking and retail banking products and services in the United States. The company offers deposit products, including time deposits, non-interest and interest-bearing demand accounts, savings and money market accounts, NOW accounts, and certificates of deposit.
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