Wall Street brokerages expect that Amalgamated Bank (NASDAQ:AMAL) will post $0.31 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Amalgamated Bank’s earnings. The lowest EPS estimate is $0.26 and the highest is $0.34. The firm is expected to report its next earnings report on Tuesday, April 30th.
On average, analysts expect that Amalgamated Bank will report full-year earnings of $1.43 per share for the current year, with EPS estimates ranging from $1.40 to $1.45. For the next financial year, analysts forecast that the business will post earnings of $1.67 per share, with EPS estimates ranging from $1.55 to $1.76. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Amalgamated Bank.
Amalgamated Bank (NASDAQ:AMAL) last announced its quarterly earnings results on Tuesday, January 29th. The company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.06). The business had revenue of $47.76 million for the quarter, compared to the consensus estimate of $47.82 million.
AMAL has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Amalgamated Bank from a “buy” rating to a “hold” rating in a report on Tuesday, January 1st. ValuEngine downgraded shares of Amalgamated Bank from a “hold” rating to a “sell” rating in a research note on Thursday, December 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $20.42.
Several hedge funds have recently modified their holdings of the company. Legal & General Group Plc purchased a new position in shares of Amalgamated Bank in the 3rd quarter valued at $28,000. American International Group Inc. purchased a new position in shares of Amalgamated Bank in the 3rd quarter valued at $126,000. Wells Fargo & Company MN purchased a new position in shares of Amalgamated Bank in the 3rd quarter valued at $147,000. Laurion Capital Management LP purchased a new position in shares of Amalgamated Bank in the 3rd quarter valued at $193,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Amalgamated Bank in the 4th quarter valued at $213,000. 28.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of AMAL traded up $0.22 during mid-day trading on Friday, reaching $18.43. The company had a trading volume of 41,642 shares, compared to its average volume of 49,553. The firm has a market cap of $585.52 million and a PE ratio of 13.55. Amalgamated Bank has a fifty-two week low of $13.25 and a fifty-two week high of $22.97.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 26th. Stockholders of record on Friday, February 15th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Thursday, February 14th. Amalgamated Bank’s dividend payout ratio is presently 17.65%.
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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