Q1 2020 Earnings Estimate for Amalgamated Bank Issued By Piper Sandler (NASDAQ:AMAL)

Amalgamated Bank (NASDAQ:AMAL) – Analysts at Piper Sandler cut their Q1 2020 earnings estimates for shares of Amalgamated Bank in a note issued to investors on Monday, March 23rd. Piper Sandler analyst A. Twerdahl now forecasts that the company will post earnings of $0.37 per share for the quarter, down from their previous forecast of $0.39. Piper Sandler also issued estimates for Amalgamated Bank’s Q2 2020 earnings at $0.32 EPS, Q3 2020 earnings at $0.33 EPS, Q4 2020 earnings at $0.33 EPS, FY2020 earnings at $1.35 EPS, Q1 2021 earnings at $0.30 EPS, Q2 2021 earnings at $0.32 EPS, Q3 2021 earnings at $0.34 EPS, Q4 2021 earnings at $0.35 EPS and FY2021 earnings at $1.31 EPS.

Amalgamated Bank (NASDAQ:AMAL) last issued its quarterly earnings results on Friday, January 31st. The company reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. The business had revenue of $50.03 million for the quarter, compared to analyst estimates of $49.80 million.

A number of other equities analysts also recently weighed in on AMAL. Keefe, Bruyette & Woods raised shares of Amalgamated Bank from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $18.50 to $21.00 in a research note on Monday, February 3rd. Barclays lifted their target price on shares of Amalgamated Bank from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. TheStreet downgraded shares of Amalgamated Bank from a “c-” rating to a “d+” rating in a research note on Friday, March 20th. Zacks Investment Research downgraded shares of Amalgamated Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Finally, BidaskClub downgraded shares of Amalgamated Bank from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Amalgamated Bank has an average rating of “Hold” and a consensus target price of $20.75.

Shares of NASDAQ:AMAL opened at $9.78 on Wednesday. The firm has a market cap of $294.65 million, a PE ratio of 6.70 and a beta of 0.52. The firm’s fifty day moving average is $15.20 and its 200-day moving average is $17.35. Amalgamated Bank has a 52 week low of $7.90 and a 52 week high of $20.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nuveen Asset Management LLC raised its stake in Amalgamated Bank by 257.5% during the fourth quarter. Nuveen Asset Management LLC now owns 139,482 shares of the company’s stock worth $2,713,000 after buying an additional 100,464 shares during the last quarter. Geode Capital Management LLC raised its stake in Amalgamated Bank by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 193,125 shares of the company’s stock worth $3,756,000 after buying an additional 13,509 shares during the last quarter. Algert Global LLC bought a new stake in Amalgamated Bank in the fourth quarter valued at $254,000. Bank of America Corp DE increased its stake in Amalgamated Bank by 57.4% in the fourth quarter. Bank of America Corp DE now owns 18,970 shares of the company’s stock valued at $369,000 after purchasing an additional 6,919 shares in the last quarter. Finally, Reynders McVeigh Capital Management LLC increased its stake in Amalgamated Bank by 10.2% in the fourth quarter. Reynders McVeigh Capital Management LLC now owns 274,366 shares of the company’s stock valued at $5,336,000 after purchasing an additional 25,428 shares in the last quarter. 37.85% of the stock is owned by institutional investors and hedge funds.

The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 21st were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Thursday, February 20th. Amalgamated Bank’s dividend payout ratio is presently 21.48%.

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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Earnings History and Estimates for Amalgamated Bank (NASDAQ:AMAL)

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