Amalgamated Financial (AMAL) Set to Announce Earnings on Thursday

Amalgamated Financial (NASDAQ:AMAL) is scheduled to be releasing its earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $0.76 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings data on Thursday, January 25th. The company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Amalgamated Financial had a net margin of 22.71% and a return on equity of 16.60%. The firm had revenue of $105.39 million during the quarter, compared to analyst estimates of $71.59 million. During the same period in the previous year, the firm posted $0.83 earnings per share. On average, analysts expect Amalgamated Financial to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Amalgamated Financial Price Performance

AMAL opened at $21.49 on Thursday. The stock’s 50-day moving average price is $23.33 and its 200 day moving average price is $22.61. Amalgamated Financial has a 12-month low of $14.05 and a 12-month high of $27.77. The firm has a market cap of $655.45 million, a price-to-earnings ratio of 7.51 and a beta of 0.94. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.52.

Amalgamated Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 6th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, February 5th. This represents a $0.40 annualized dividend and a dividend yield of 1.86%. Amalgamated Financial’s dividend payout ratio is presently 13.99%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMAL. Keefe, Bruyette & Woods dropped their price objective on shares of Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, April 5th. JPMorgan Chase & Co. dropped their price target on shares of Amalgamated Financial from $33.00 to $29.50 and set an “overweight” rating for the company in a research note on Thursday, April 4th.

Institutional Investors Weigh In On Amalgamated Financial

Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its position in shares of Amalgamated Financial by 96.4% during the third quarter. Tower Research Capital LLC TRC now owns 1,100 shares of the company’s stock worth $25,000 after buying an additional 540 shares in the last quarter. Amalgamated Bank lifted its stake in Amalgamated Financial by 31.6% in the fourth quarter. Amalgamated Bank now owns 2,322 shares of the company’s stock worth $53,000 after acquiring an additional 557 shares during the last quarter. Citigroup Inc. lifted its stake in Amalgamated Financial by 174.4% in the first quarter. Citigroup Inc. now owns 3,501 shares of the company’s stock worth $62,000 after acquiring an additional 2,225 shares during the last quarter. State of Wyoming acquired a new position in Amalgamated Financial during the 4th quarter worth approximately $112,000. Finally, Legal & General Group Plc lifted its position in shares of Amalgamated Financial by 10.8% during the 4th quarter. Legal & General Group Plc now owns 5,873 shares of the company’s stock worth $135,000 after purchasing an additional 571 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Amalgamated Financial Company Profile

Amalgamated Financial Corp. operates as the bank holding company for Amalgamated Bank that provides commercial and retail banking, investment management, and trust and custody services for commercial and retail customers in the United States. The company accepts various deposit products, including non-interest bearing accounts, interest-bearing demand products, savings accounts, money market accounts, NOW accounts, and certificates of deposit.