FY2020 Earnings Forecast for Amalgamated Bank (NASDAQ:AMAL) Issued By Piper Sandler

Amalgamated Bank (NASDAQ:AMAL) – Investment analysts at Piper Sandler issued their FY2020 earnings per share (EPS) estimates for shares of Amalgamated Bank in a report issued on Tuesday, January 14th. Piper Sandler analyst A. Twerdahl expects that the company will earn $1.67 per share for the year.

Amalgamated Bank (NASDAQ:AMAL) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.04. The company had revenue of $49.42 million for the quarter, compared to analyst estimates of $48.29 million.

A number of other research firms have also weighed in on AMAL. ValuEngine raised Amalgamated Bank from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Barclays upped their price objective on Amalgamated Bank from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday. Zacks Investment Research raised Amalgamated Bank from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective on the stock in a report on Tuesday, December 3rd. Finally, TheStreet raised Amalgamated Bank from a “d” rating to a “c” rating in a report on Monday. One analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $20.67.

Shares of AMAL stock traded down $0.16 during trading on Friday, reaching $18.94. 10 shares of the company’s stock were exchanged, compared to its average volume of 45,909. The stock has a market capitalization of $606.19 million, a PE ratio of 13.92 and a beta of 0.43. Amalgamated Bank has a twelve month low of $14.58 and a twelve month high of $20.50. The firm’s fifty day moving average price is $19.42 and its 200-day moving average price is $17.55.

Hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp grew its holdings in Amalgamated Bank by 20.1% in the 3rd quarter. State Street Corp now owns 227,782 shares of the company’s stock valued at $3,649,000 after buying an additional 38,043 shares in the last quarter. Millennium Management LLC lifted its position in shares of Amalgamated Bank by 12.6% during the 3rd quarter. Millennium Management LLC now owns 180,654 shares of the company’s stock valued at $2,894,000 after acquiring an additional 20,163 shares during the period. Squarepoint Ops LLC lifted its position in shares of Amalgamated Bank by 31.5% during the 3rd quarter. Squarepoint Ops LLC now owns 37,097 shares of the company’s stock valued at $594,000 after acquiring an additional 8,897 shares during the period. Voya Investment Management LLC bought a new stake in shares of Amalgamated Bank during the 3rd quarter valued at $322,000. Finally, Russell Investments Group Ltd. lifted its position in shares of Amalgamated Bank by 22.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 26,663 shares of the company’s stock valued at $427,000 after acquiring an additional 4,857 shares during the period. 38.74% of the stock is currently owned by hedge funds and other institutional investors.

About Amalgamated Bank

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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