$0.39 EPS Expected for Amalgamated Bank (NASDAQ:AMAL) This Quarter

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Brokerages expect that Amalgamated Bank (NASDAQ:AMAL) will post $0.39 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Amalgamated Bank’s earnings, with the lowest EPS estimate coming in at $0.36 and the highest estimate coming in at $0.41. Amalgamated Bank reported earnings of $0.30 per share during the same quarter last year, which would indicate a positive year over year growth rate of 30%. The firm is scheduled to report its next earnings results on Tuesday, February 4th.

According to Zacks, analysts expect that Amalgamated Bank will report full-year earnings of $1.49 per share for the current financial year, with EPS estimates ranging from $1.46 to $1.51. For the next fiscal year, analysts forecast that the business will post earnings of $1.55 per share, with EPS estimates ranging from $1.50 to $1.60. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that cover Amalgamated Bank.

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

A number of research analysts have weighed in on AMAL shares. Zacks Investment Research upgraded Amalgamated Bank from a “hold” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a research report on Tuesday. ValuEngine raised shares of Amalgamated Bank from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Barclays cut their price objective on shares of Amalgamated Bank from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, September 13th.

Several institutional investors have recently added to or reduced their stakes in AMAL. Bank of Montreal Can purchased a new stake in shares of Amalgamated Bank in the second quarter worth $30,000. BSW Wealth Partners acquired a new position in shares of Amalgamated Bank in the second quarter valued at about $34,000. JPMorgan Chase & Co. increased its holdings in shares of Amalgamated Bank by 31.9% in the second quarter. JPMorgan Chase & Co. now owns 3,806 shares of the company’s stock valued at $66,000 after purchasing an additional 920 shares during the period. Marshall Wace LLP purchased a new position in shares of Amalgamated Bank in the first quarter worth about $135,000. Finally, Isthmus Partners LLC purchased a new position in shares of Amalgamated Bank in the second quarter worth about $211,000. 38.74% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ AMAL traded down $0.13 during trading hours on Tuesday, hitting $18.92. The company had a trading volume of 48,393 shares, compared to its average volume of 55,725. Amalgamated Bank has a 52 week low of $14.58 and a 52 week high of $20.74. The firm has a 50 day simple moving average of $18.34 and a 200 day simple moving average of $17.03. The firm has a market capitalization of $601.11 million, a price-to-earnings ratio of 13.91 and a beta of 0.43.

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Thursday, November 14th. Amalgamated Bank’s payout ratio is 23.53%.

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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