Amalgamated Bank (AMAL) Expected to Announce Quarterly Sales of $47.75 Million

Wall Street analysts expect Amalgamated Bank (NASDAQ:AMAL) to post sales of $47.75 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Amalgamated Bank’s earnings. The lowest sales estimate is $47.45 million and the highest is $48.00 million. The company is scheduled to issue its next quarterly earnings report on Monday, February 4th.

On average, analysts expect that Amalgamated Bank will report full year sales of $178.12 million for the current year, with estimates ranging from $177.75 million to $178.40 million. For the next financial year, analysts anticipate that the business will report sales of $195.54 million, with estimates ranging from $193.29 million to $198.60 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Amalgamated Bank.

Amalgamated Bank (NASDAQ:AMAL) last issued its quarterly earnings results on Monday, October 29th. The company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.03. The firm had revenue of $47.59 million for the quarter, compared to the consensus estimate of $46.44 million.

AMAL has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods initiated coverage on shares of Amalgamated Bank in a research report on Tuesday, September 4th. They set a “market perform” rating and a $19.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on shares of Amalgamated Bank in a research report on Tuesday, September 4th. They set an “overweight” rating and a $21.00 price target on the stock. Piper Jaffray Companies initiated coverage on shares of Amalgamated Bank in a research report on Tuesday, September 4th. They set a “neutral” rating and a $19.50 price target on the stock. Sandler O’Neill initiated coverage on shares of Amalgamated Bank in a research report on Tuesday, September 4th. They set a “buy” rating and a $21.00 price target on the stock. Finally, Barclays initiated coverage on shares of Amalgamated Bank in a research report on Wednesday, September 5th. They set an “overweight” rating and a $20.00 price target on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Amalgamated Bank currently has an average rating of “Buy” and an average price target of $20.42.

Several hedge funds and other institutional investors have recently made changes to their positions in AMAL. Vanguard Group Inc. acquired a new position in shares of Amalgamated Bank during the third quarter valued at about $17,645,000. BlackRock Inc. acquired a new position in shares of Amalgamated Bank during the third quarter valued at about $12,879,000. Alliancebernstein L.P. acquired a new position in shares of Amalgamated Bank during the third quarter valued at about $6,003,000. Trillium Asset Management LLC acquired a new position in shares of Amalgamated Bank during the third quarter valued at about $4,596,000. Finally, Blackstone Group L.P. acquired a new position in shares of Amalgamated Bank during the third quarter valued at about $3,799,000. Hedge funds and other institutional investors own 7.07% of the company’s stock.

AMAL traded up $0.53 during trading on Tuesday, reaching $21.36. 95,935 shares of the stock traded hands, compared to its average volume of 173,351. Amalgamated Bank has a 12 month low of $13.25 and a 12 month high of $22.97.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 26th. Stockholders of record on Friday, November 16th were issued a dividend of $0.06 per share. The ex-dividend date was Thursday, November 15th. This represents a $0.24 annualized dividend and a dividend yield of 1.12%.

About Amalgamated Bank

Amalgamated Bank provides personal and commercial banking products and services to working families, unions, commercial real estate industries, healthcare markets, institutional investors, law firms, non-profits, and political organizations in the United States. The company offers checking, savings, certificates of deposit, money market, and individual retirement accounts; home equity lines of credit options, mortgages, and personal loans and lines of credit options; and commercial loans (lines of credit, letters of credit, and term loans).

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