Analysts Anticipate Amalgamated Bank (AMAL) Will Post Quarterly Sales of $47.79 Million

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Equities research analysts expect that Amalgamated Bank (NASDAQ:AMAL) will report $47.79 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Amalgamated Bank’s earnings. The lowest sales estimate is $47.60 million and the highest is $47.95 million. The business is scheduled to issue its next earnings results on Tuesday, April 30th.

On average, analysts expect that Amalgamated Bank will report full-year sales of $197.22 million for the current fiscal year, with estimates ranging from $196.40 million to $198.59 million. For the next financial year, analysts anticipate that the firm will report sales of $210.65 million, with estimates ranging from $208.76 million to $212.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Amalgamated Bank.

Amalgamated Bank (NASDAQ:AMAL) last released its quarterly earnings data on Tuesday, January 29th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.06). The firm had revenue of $47.76 million for the quarter, compared to the consensus estimate of $47.82 million.

Several analysts recently commented on the stock. Zacks Investment Research cut shares of Amalgamated Bank from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. ValuEngine upgraded Amalgamated Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Amalgamated Bank currently has an average rating of “Hold” and a consensus target price of $20.21.

AMAL opened at $16.00 on Friday. The firm has a market cap of $508.34 million and a P/E ratio of 11.76. Amalgamated Bank has a twelve month low of $13.25 and a twelve month high of $22.97.

A number of hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN bought a new stake in shares of Amalgamated Bank in the 3rd quarter worth $147,000. Bank of New York Mellon Corp purchased a new position in Amalgamated Bank during the third quarter valued at $449,000. BlackRock Inc. purchased a new position in Amalgamated Bank during the third quarter valued at $12,879,000. American International Group Inc. purchased a new position in Amalgamated Bank during the third quarter valued at $126,000. Finally, FMR LLC purchased a new position in Amalgamated Bank during the third quarter valued at $3,162,000. 40.36% of the stock is owned by institutional investors.

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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Earnings History and Estimates for Amalgamated Bank (NASDAQ:AMAL)

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