Equities analysts predict that Amalgamated Bank (NASDAQ:AMAL) will announce $49.80 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Amalgamated Bank’s earnings, with estimates ranging from $48.71 million to $50.88 million. Amalgamated Bank posted sales of $47.76 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.3%. The firm is expected to report its next quarterly 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 year, analysts expect that the business will report sales of $201.80 million, with estimates ranging from $198.02 million to $205.57 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Amalgamated Bank.
Amalgamated Bank (NASDAQ:AMAL) last issued its quarterly earnings data 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 have commented on the company. TheStreet raised Amalgamated Bank from a “d” rating to a “c” rating in a report on Monday. Zacks Investment Research raised Amalgamated Bank from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective on the stock in a report on Tuesday, December 3rd. Barclays upped their price objective on Amalgamated Bank from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday. Finally, ValuEngine raised Amalgamated Bank from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $20.67.
NASDAQ AMAL traded down $0.15 on Friday, reaching $18.95. The stock had a trading volume of 32,661 shares, compared to its average volume of 44,800. The firm has a fifty day moving average of $19.42 and a two-hundred day moving average of $17.56. Amalgamated Bank has a 1-year low of $14.58 and a 1-year high of $20.50. The company has a market cap of $602.06 million, a P/E ratio of 13.93 and a beta of 0.43.
Several large investors have recently added to or reduced their stakes in AMAL. Bank of Montreal Can bought a new stake in shares of Amalgamated Bank during the 2nd quarter valued at $30,000. JPMorgan Chase & Co. lifted its position in shares of Amalgamated Bank by 31.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,806 shares of the company’s stock valued at $66,000 after acquiring an additional 920 shares during the period. Marshall Wace LLP bought a new stake in shares of Amalgamated Bank during the 1st quarter valued at $135,000. Rhumbline Advisers lifted its position in shares of Amalgamated Bank by 9.6% during the 3rd quarter. Rhumbline Advisers now owns 20,107 shares of the company’s stock valued at $322,000 after acquiring an additional 1,765 shares during the period. Finally, Voya Investment Management LLC bought a new stake in shares of Amalgamated Bank during the 3rd quarter valued at $322,000. Hedge funds and other institutional investors own 38.74% of the company’s stock.
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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