Amalgamated Bank (NASDAQ:AMAL) – Equities researchers at Piper Sandler dropped their Q1 2020 earnings per share (EPS) estimates for shares of Amalgamated Bank in a research report issued to clients and investors on Monday, March 23rd. Piper Sandler analyst A. Twerdahl now expects that the company will earn $0.37 per share for the quarter, down from their prior forecast of $0.39. Piper Sandler also issued estimates for Amalgamated Bank’s Q2 2020 earnings at $0.32 EPS, Q3 2020 earnings at $0.33 EPS, Q4 2020 earnings at $0.33 EPS, FY2020 earnings at $1.35 EPS, Q1 2021 earnings at $0.30 EPS, Q2 2021 earnings at $0.32 EPS, Q3 2021 earnings at $0.34 EPS, Q4 2021 earnings at $0.35 EPS and FY2021 earnings at $1.31 EPS.

Amalgamated Bank (NASDAQ:AMAL) last announced its quarterly earnings results on Friday, January 31st. The company reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. The firm had revenue of $50.03 million during the quarter, compared to analysts’ expectations of $49.80 million.

A number of other analysts have also issued reports on AMAL. BidaskClub lowered Amalgamated Bank from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 18th. ValuEngine upgraded Amalgamated Bank from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. TheStreet lowered Amalgamated Bank from a “c-” rating to a “d+” rating in a report on Friday, March 20th. Zacks Investment Research lowered Amalgamated Bank from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Keefe, Bruyette & Woods upgraded Amalgamated Bank from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $18.50 to $21.00 in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $20.75.

Shares of NASDAQ AMAL opened at $9.00 on Wednesday. The firm has a market capitalization of $283.71 million, a price-to-earnings ratio of 6.16 and a beta of 0.52. The stock has a 50 day moving average price of $15.20 and a 200 day moving average price of $17.35. Amalgamated Bank has a 52-week low of $7.90 and a 52-week high of $20.00.

A number of institutional investors have recently bought and sold shares of AMAL. Panagora Asset Management Inc. lifted its holdings in Amalgamated Bank by 77.5% during the fourth quarter. Panagora Asset Management Inc. now owns 1,679 shares of the company’s stock worth $33,000 after buying an additional 733 shares during the period. Bank of Montreal Can lifted its holdings in Amalgamated Bank by 30.5% during the fourth quarter. Bank of Montreal Can now owns 2,338 shares of the company’s stock worth $45,000 after buying an additional 546 shares during the period. Citigroup Inc. lifted its holdings in Amalgamated Bank by 27.8% during the fourth quarter. Citigroup Inc. now owns 2,826 shares of the company’s stock worth $55,000 after buying an additional 615 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Amalgamated Bank during the fourth quarter worth $63,000. Finally, Marshall Wace LLP purchased a new stake in Amalgamated Bank during the first quarter worth $135,000. Institutional investors own 37.85% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 21st were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $0.32 dividend on an annualized basis and a yield of 3.56%. Amalgamated Bank’s dividend payout ratio is currently 21.48%.

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.

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Earnings History and Estimates for Amalgamated Bank (NASDAQ:AMAL)

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