Analysts expect that Amalgamated Bank (NASDAQ:AMAL) will announce sales of $46.37 million for the current quarter, Zacks reports. Three analysts have provided estimates for Amalgamated Bank’s earnings, with estimates ranging from $45.05 million to $47.60 million. The company is scheduled to report its next earnings report on Tuesday, April 30th.
According to Zacks, analysts expect that Amalgamated Bank will report full-year sales of $195.05 million for the current fiscal year, with estimates ranging from $193.29 million to $196.40 million. For the next year, analysts anticipate that the firm will post sales of $210.19 million, with estimates ranging from $204.33 million to $213.35 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Amalgamated Bank.
Amalgamated Bank (NASDAQ:AMAL) last issued its quarterly earnings data on Tuesday, January 29th. The company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.06). The firm had revenue of $47.76 million during the quarter, compared to analyst estimates of $47.82 million.
Shares of NASDAQ AMAL traded up $0.24 during trading on Friday, reaching $15.65. The stock had a trading volume of 85,100 shares, compared to its average volume of 49,623. Amalgamated Bank has a fifty-two week low of $13.25 and a fifty-two week high of $22.97. The stock has a market capitalization of $482.92 million and a PE ratio of 11.38.
A number of large investors have recently added to or reduced their stakes in AMAL. Legal & General Group Plc purchased a new position in Amalgamated Bank in the third quarter valued at $28,000. Metropolitan Life Insurance Co. NY purchased a new position in Amalgamated Bank in the fourth quarter valued at $86,000. MetLife Investment Advisors LLC purchased a new position in Amalgamated Bank in the fourth quarter valued at $117,000. American International Group Inc. purchased a new position in Amalgamated Bank in the third quarter valued at $126,000. Finally, Bank of America Corp DE boosted its holdings in Amalgamated Bank by 269.4% in the fourth quarter. Bank of America Corp DE now owns 7,437 shares of the company’s stock valued at $144,000 after purchasing an additional 5,424 shares during the period. Hedge funds and other institutional investors own 40.19% of the company’s stock.
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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