Zacks: Analysts Expect Amalgamated Financial Corp. (NASDAQ:AMAL) to Post $0.36 EPS

Equities analysts expect that Amalgamated Financial Corp. (NASDAQ:AMAL) will announce $0.36 earnings per share for the current quarter, according to Zacks. Two analysts have issued estimates for Amalgamated Financial’s earnings. The highest EPS estimate is $0.39 and the lowest is $0.33. Amalgamated Financial reported earnings of $0.34 per share in the same quarter last year, which suggests a positive year over year growth rate of 5.9%. The firm is scheduled to issue its next earnings results on Tuesday, July 27th.

According to Zacks, analysts expect that Amalgamated Financial will report full year earnings of $1.58 per share for the current fiscal year, with EPS estimates ranging from $1.50 to $1.65. For the next fiscal year, analysts expect that the company will post earnings of $1.72 per share, with EPS estimates ranging from $1.40 to $1.96. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Amalgamated Financial.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings results on Wednesday, April 21st. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.07. The company had revenue of $45.84 million for the quarter, compared to analyst estimates of $48.38 million.

A number of equities research analysts recently commented on AMAL shares. Barclays increased their price objective on shares of Amalgamated Financial from $17.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, April 13th. TheStreet raised shares of Amalgamated Financial from a “c” rating to a “b” rating in a research note on Monday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.50 price objective (down from $18.50) on shares of Amalgamated Financial in a research note on Monday, March 29th. Finally, Zacks Investment Research cut shares of Amalgamated Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, April 6th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $16.50.

In other news, insider Keith Mestrich sold 6,920 shares of the stock in a transaction dated Thursday, March 18th. The shares were sold at an average price of $17.53, for a total transaction of $121,307.60. 3.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Reynders McVeigh Capital Management LLC lifted its holdings in shares of Amalgamated Financial by 30.0% during the 1st quarter. Reynders McVeigh Capital Management LLC now owns 175,419 shares of the company’s stock worth $2,910,000 after acquiring an additional 40,508 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Amalgamated Financial by 93.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 41,093 shares of the company’s stock worth $565,000 after acquiring an additional 19,813 shares during the period. Credit Suisse AG purchased a new position in Amalgamated Financial in the fourth quarter valued at approximately $173,000. Hsbc Holdings PLC raised its holdings in Amalgamated Financial by 5.7% in the fourth quarter. Hsbc Holdings PLC now owns 17,552 shares of the company’s stock valued at $243,000 after buying an additional 945 shares during the period. Finally, Strs Ohio raised its holdings in Amalgamated Financial by 198.4% in the fourth quarter. Strs Ohio now owns 37,300 shares of the company’s stock valued at $512,000 after buying an additional 24,800 shares during the period. Institutional investors and hedge funds own 37.07% of the company’s stock.

NASDAQ:AMAL opened at $15.81 on Tuesday. The firm has a market cap of $493.08 million, a PE ratio of 10.13 and a beta of 0.85. Amalgamated Financial has a fifty-two week low of $10.20 and a fifty-two week high of $20.22. The stock’s fifty day moving average is $16.40.

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Friday, May 14th were issued a $0.08 dividend. The ex-dividend date was Thursday, May 13th. This represents a $0.32 dividend on an annualized basis and a yield of 2.02%. Amalgamated Financial’s dividend payout ratio (DPR) is 19.88%.

About Amalgamated Financial

Amalgamated Financial Corp. operates as a bank holding company for Amalgamated Bank that provides commercial banking and trust services for commercial and retail customers in the United States. The company accepts various deposit products, including 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 Financial (NASDAQ:AMAL)

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