Wall Street analysts predict that Amalgamated Bank (NASDAQ:AMAL) will post earnings of $0.36 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Amalgamated Bank’s earnings. The lowest EPS estimate is $0.35 and the highest is $0.39. Amalgamated Bank posted earnings of $0.40 per share during the same quarter last year, which suggests a negative year over year growth rate of 10%. The business is expected to report its next quarterly earnings results before the market opens on Monday, July 29th.
According to Zacks, analysts expect that Amalgamated Bank will report full year earnings of $1.44 per share for the current financial year, with EPS estimates ranging from $1.37 to $1.55. For the next fiscal year, analysts anticipate that the company will report earnings of $1.63 per share, with EPS estimates ranging from $1.45 to $1.80. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Amalgamated Bank.
Amalgamated Bank (NASDAQ:AMAL) last issued its earnings results on Tuesday, April 30th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $48.19 million during the quarter, compared to analyst estimates of $47.79 million.
Several equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of HB Fuller from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. Raymond James restated a “buy” rating on shares of Teck Resources in a report on Thursday, April 4th. Finally, ValuEngine cut shares of Wolverine World Wide from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $19.93.
Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC boosted its holdings in shares of Amalgamated Bank by 4,761.4% in the first quarter. FMR LLC now owns 24,307 shares of the company’s stock worth $380,000 after buying an additional 23,807 shares during the last quarter. Marshall Wace LLP purchased a new stake in Amalgamated Bank in the first quarter valued at approximately $135,000. Reynders McVeigh Capital Management LLC boosted its position in Amalgamated Bank by 68.9% in the first quarter. Reynders McVeigh Capital Management LLC now owns 220,529 shares of the company’s stock valued at $3,451,000 after buying an additional 89,966 shares during the last quarter. Acadian Asset Management LLC boosted its position in Amalgamated Bank by 87.7% in the first quarter. Acadian Asset Management LLC now owns 70,324 shares of the company’s stock valued at $1,102,000 after buying an additional 32,864 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Amalgamated Bank by 10.1% in the 1st quarter. Rhumbline Advisers now owns 13,951 shares of the company’s stock worth $218,000 after purchasing an additional 1,275 shares in the last quarter. Institutional investors and hedge funds own 39.94% of the company’s stock.
Shares of AMAL stock traded down $0.28 during trading hours on Friday, hitting $16.92. 100 shares of the company’s stock traded hands, compared to its average volume of 42,696. Amalgamated Bank has a 12 month low of $14.58 and a 12 month high of $22.97. The firm has a 50 day moving average price of $17.11. The stock has a market cap of $541.86 million and a PE ratio of 12.54.
About Amalgamated Bank
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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