Amalgamated Bank (NASDAQ:AMAL) Expected to Post Quarterly Sales of $49.15 Million
Analysts expect that Amalgamated Bank (NASDAQ:AMAL) will post sales of $49.15 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Amalgamated Bank’s earnings, with estimates ranging from $48.94 million to $49.50 million. Amalgamated Bank reported sales of $42.90 million in the same quarter last year, which would suggest a positive year over year growth rate of 14.6%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Monday, July 29th.
According to Zacks, analysts expect that Amalgamated Bank will report full year sales of $197.62 million for the current financial year, with estimates ranging from $195.52 million to $199.50 million. For the next fiscal year, analysts expect that the firm will report sales of $209.09 million, with estimates ranging from $203.68 million to $215.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Amalgamated Bank.
Amalgamated Bank (NASDAQ:AMAL) last announced its earnings results on Tuesday, April 30th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. The company had revenue of $48.19 million for the quarter, compared to the consensus estimate of $47.79 million.
Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA boosted its stake in Amalgamated Bank by 679.4% during the first quarter. BNP Paribas Arbitrage SA now owns 2,502 shares of the company’s stock worth $39,000 after buying an additional 2,181 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in Amalgamated Bank during the fourth quarter worth $86,000. MetLife Investment Advisors LLC acquired a new stake in Amalgamated Bank during the fourth quarter worth $117,000. Bank of America Corp DE boosted its stake in Amalgamated Bank by 269.4% during the fourth quarter. Bank of America Corp DE now owns 7,437 shares of the company’s stock worth $144,000 after buying an additional 5,424 shares in the last quarter. Finally, American International Group Inc. boosted its stake in Amalgamated Bank by 19.7% during the fourth quarter. American International Group Inc. now owns 7,787 shares of the company’s stock worth $152,000 after buying an additional 1,279 shares in the last quarter. Hedge funds and other institutional investors own 39.94% of the company’s stock.
AMAL stock traded up $0.04 on Friday, reaching $17.20. 7,848 shares of the company were exchanged, compared to its average volume of 39,706. Amalgamated Bank has a 12 month low of $14.58 and a 12 month high of $22.97. The company has a fifty day simple moving average of $17.10. The stock has a market capitalization of $546.46 million and a price-to-earnings ratio of 12.65.
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.
Recommended Story: What are Bollinger Bands?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.