$0.33 EPS Expected for Amalgamated Bank (AMAL) This Quarter

Wall Street brokerages expect that Amalgamated Bank (NASDAQ:AMAL) will announce $0.33 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Amalgamated Bank’s earnings. The lowest EPS estimate is $0.32 and the highest is $0.33. The firm is expected to issue its next quarterly earnings results on Tuesday, April 30th.

On average, analysts expect that Amalgamated Bank will report full year earnings of $1.42 per share for the current financial year, with EPS estimates ranging from $1.40 to $1.44. For the next financial year, analysts forecast that the firm will post earnings of $1.65 per share, with EPS estimates ranging from $1.55 to $1.70. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Amalgamated Bank.

Amalgamated Bank (NASDAQ:AMAL) last released its quarterly earnings results on Tuesday, January 29th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.06). The business had revenue of $47.76 million during the quarter, compared to analysts’ expectations of $47.82 million.

A number of equities research analysts have commented on the company. Zacks Investment Research upgraded Amalgamated Bank from a “sell” rating to a “hold” rating in a research report on Monday, January 14th. Raymond James set a $19.00 target price on Amalgamated Bank and gave the company a “buy” rating in a research report on Thursday, April 4th. Finally, ValuEngine upgraded Amalgamated Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $20.21.

Several institutional investors have recently made changes to their positions in AMAL. Wells Fargo & Company MN bought a new stake in shares of Amalgamated Bank during the 3rd quarter valued at about $147,000. Alliancebernstein L.P. bought a new stake in shares of Amalgamated Bank during the 3rd quarter valued at about $6,003,000. Bank of New York Mellon Corp bought a new stake in shares of Amalgamated Bank during the 3rd quarter valued at about $449,000. BlackRock Inc. bought a new stake in shares of Amalgamated Bank during the 3rd quarter valued at about $12,879,000. Finally, American International Group Inc. bought a new stake in shares of Amalgamated Bank during the 3rd quarter valued at about $126,000. Institutional investors own 40.36% of the company’s stock.

Shares of NASDAQ AMAL traded up $0.33 during trading on Thursday, reaching $16.07. The company had a trading volume of 59,500 shares, compared to its average volume of 51,059. Amalgamated Bank has a 12 month low of $13.25 and a 12 month high of $22.97. The firm has a market capitalization of $494.36 million and a PE ratio of 11.82.

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

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