$49.22 Million in Sales Expected for Amalgamated Bank (AMAL) This Quarter
Wall Street brokerages forecast that Amalgamated Bank (NASDAQ:AMAL) will post sales of $49.22 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Amalgamated Bank’s earnings, with the lowest sales estimate coming in at $48.90 million and the highest estimate coming in at $49.50 million. Amalgamated Bank posted sales of $42.90 million during the same quarter last year, which would indicate a positive year over year growth rate of 14.7%. The business is expected to announce its next earnings report on Monday, September 23rd.
On average, analysts expect that Amalgamated Bank will report full-year sales of $198.65 million for the current financial year, with estimates ranging from $196.64 million to $199.82 million. For the next year, analysts anticipate that the company will report sales of $212.49 million, with estimates ranging from $208.91 million to $215.80 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Amalgamated Bank.
Amalgamated Bank (NASDAQ:AMAL) last issued its earnings results on Tuesday, April 30th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $48.19 million during the quarter, compared to the consensus estimate of $47.79 million.
Shares of NASDAQ AMAL traded down $0.44 during mid-day trading on Wednesday, hitting $16.50. The company’s stock had a trading volume of 32,000 shares, compared to its average volume of 46,964. The firm has a market capitalization of $527.06 million and a PE ratio of 12.13. Amalgamated Bank has a one year low of $13.25 and a one year high of $22.97.
The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Thursday, May 16th were given a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.45%. Amalgamated Bank’s dividend payout ratio is 17.65%.
Several large investors have recently made changes to their positions in AMAL. Bank of New York Mellon Corp acquired a new stake in shares of Amalgamated Bank in the 3rd quarter valued at approximately $449,000. BlackRock Inc. acquired a new stake in Amalgamated Bank during the 3rd quarter worth approximately $12,879,000. Teachers Advisors LLC acquired a new stake in Amalgamated Bank during the 3rd quarter worth approximately $244,000. TIAA CREF Investment Management LLC acquired a new stake in Amalgamated Bank during the 3rd quarter worth approximately $303,000. Finally, Vanguard Group Inc. acquired a new stake in Amalgamated Bank during the 3rd quarter worth approximately $17,645,000. Institutional investors and hedge funds own 39.97% 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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