Zacks: Analysts Anticipate Amalgamated Bank (AMAL) Will 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 data on Monday, October 29th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.03. The business had revenue of $47.59 million during the quarter, compared to the consensus estimate of $46.44 million.
Shares of Amalgamated Bank stock traded down $0.05 during trading on Friday, hitting $20.97. The company’s stock had a trading volume of 24,959 shares, compared to its average volume of 76,608. Amalgamated Bank has a 52 week low of $13.25 and a 52 week high of $21.37.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 26th. Investors of record on Friday, November 16th will be issued a $0.06 dividend. The ex-dividend date is Thursday, November 15th. This represents a $0.24 annualized dividend and a yield of 1.14%.
Hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. acquired a new position in Amalgamated Bank in the third quarter valued at $126,000. Wells Fargo & Company MN acquired a new position in Amalgamated Bank in the third quarter valued at $147,000. Keybank National Association OH acquired a new position in Amalgamated Bank in the third quarter valued at $259,000. Bank of New York Mellon Corp acquired a new position in Amalgamated Bank in the third quarter valued at $449,000. Finally, TCW Group Inc. acquired a new position in Amalgamated Bank in the third quarter valued at $2,122,000. Institutional investors and hedge funds own 0.56% of the company’s stock.
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).
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.