$49.89 Million in Sales Expected for Amalgamated Bank (NASDAQ:AMAL) This Quarter

Share on StockTwits

Wall Street brokerages expect Amalgamated Bank (NASDAQ:AMAL) to report sales of $49.89 million for the current quarter, according to Zacks. Two analysts have made estimates for Amalgamated Bank’s earnings, with estimates ranging from $48.90 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 4.5%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, February 4th.

According to Zacks, analysts expect that Amalgamated Bank will report full year sales of $195.78 million for the current year, with estimates ranging from $194.85 million to $196.70 million. For the next year, analysts forecast that the firm will report sales of $201.64 million, with estimates ranging from $197.70 million to $205.57 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Amalgamated Bank.

Amalgamated Bank (NASDAQ:AMAL) last released its quarterly earnings data on Monday, October 28th. The company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.04. The firm had revenue of $49.42 million for the quarter, compared to analyst estimates of $48.29 million.

Several equities research analysts recently weighed in on the company. Zacks Investment Research raised Amalgamated Bank from a “strong sell” rating to a “hold” rating in a report on Thursday, October 31st. Barclays cut their price objective on Amalgamated Bank from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Finally, ValuEngine raised Amalgamated Bank from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.

Shares of NASDAQ AMAL traded down $0.15 during mid-day trading on Thursday, hitting $19.12. 18,699 shares of the stock traded hands, compared to its average volume of 71,644. Amalgamated Bank has a twelve month low of $14.58 and a twelve month high of $21.60. The company has a market cap of $612.23 million, a PE ratio of 14.06 and a beta of 0.41. The firm has a 50 day simple moving average of $18.17 and a two-hundred day simple moving average of $17.00.

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.08 per share. This is a positive change from Amalgamated Bank’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Thursday, November 14th. Amalgamated Bank’s dividend payout ratio (DPR) is currently 23.53%.

A number of large investors have recently made changes to their positions in the stock. Millennium Management LLC raised its position in Amalgamated Bank by 12.6% during the 3rd quarter. Millennium Management LLC now owns 180,654 shares of the company’s stock worth $2,894,000 after purchasing an additional 20,163 shares during the last quarter. Squarepoint Ops LLC raised its position in Amalgamated Bank by 31.5% during the 3rd quarter. Squarepoint Ops LLC now owns 37,097 shares of the company’s stock worth $594,000 after purchasing an additional 8,897 shares during the last quarter. State Street Corp raised its position in Amalgamated Bank by 20.1% during the 3rd quarter. State Street Corp now owns 227,782 shares of the company’s stock worth $3,649,000 after purchasing an additional 38,043 shares during the last quarter. Voya Investment Management LLC bought a new position in Amalgamated Bank during the 3rd quarter worth $322,000. Finally, Russell Investments Group Ltd. raised its position in Amalgamated Bank by 22.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 26,663 shares of the company’s stock worth $427,000 after purchasing an additional 4,857 shares during the last quarter. 38.74% of the stock is owned by institutional investors and hedge funds.

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.

Read More: What is a Candlestick Chart?

Get a free copy of the Zacks research report on Amalgamated Bank (AMAL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Amalgamated Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amalgamated Bank and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.