Wall Street brokerages forecast that Amalgamated Bank (NASDAQ:AMAL) will report earnings of $0.39 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Amalgamated Bank’s earnings. The lowest EPS estimate is $0.36 and the highest is $0.41. Amalgamated Bank posted earnings per share of $0.30 in the same quarter last year, which suggests a positive year-over-year growth rate of 30%. The company is expected to report its next quarterly earnings report on Tuesday, February 4th.

On average, analysts expect that Amalgamated Bank will report full-year earnings of $1.49 per share for the current year, with EPS estimates ranging from $1.46 to $1.51. For the next year, analysts anticipate that the business will post earnings of $1.57 per share, with EPS estimates ranging from $1.53 to $1.60. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Amalgamated Bank.

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

AMAL has been the subject of several research reports. TheStreet raised Amalgamated Bank from a “d” rating to a “c” rating in a report on Monday. Zacks Investment Research raised Amalgamated Bank from a “hold” rating to a “strong-buy” rating and set a $22.00 target price for the company in a report on Tuesday, December 3rd. ValuEngine raised Amalgamated Bank from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Barclays lifted their target price on Amalgamated Bank from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $20.67.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Amalgamated Bank by 2.4% during the second quarter. Vanguard Group Inc. now owns 1,120,321 shares of the company’s stock worth $19,549,000 after buying an additional 25,916 shares in the last quarter. BlackRock Inc. increased its position in shares of Amalgamated Bank by 16.1% in the second quarter. BlackRock Inc. now owns 884,496 shares of the company’s stock worth $15,435,000 after purchasing an additional 122,905 shares during the period. Mendon Capital Advisors Corp increased its position in shares of Amalgamated Bank by 2.1% in the second quarter. Mendon Capital Advisors Corp now owns 712,577 shares of the company’s stock worth $12,434,000 after purchasing an additional 14,694 shares during the period. State Street Corp increased its position in shares of Amalgamated Bank by 20.1% in the third 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 period. Finally, Millennium Management LLC increased its position in shares of Amalgamated Bank by 12.6% in the third 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 period. 38.74% of the stock is owned by institutional investors.

Amalgamated Bank stock traded down $0.04 during mid-day trading on Friday, hitting $19.11. 39,400 shares of the company’s stock traded hands, compared to its average volume of 47,570. The firm has a 50 day simple moving average of $19.43 and a two-hundred day simple moving average of $17.54. Amalgamated Bank has a fifty-two week low of $14.58 and a fifty-two week high of $20.50. The stock has a market cap of $608.40 million, a price-to-earnings ratio of 14.05 and a beta of 0.43.

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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