Amalgamated Financial (AMAL) Set to Announce Earnings on Thursday

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, October 24th. Analysts expect the company to announce earnings of $0.83 per share for the quarter. Parties interested in participating in the company's conference call can do so using this link.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.06. The firm had revenue of $108.22 million during the quarter, compared to the consensus estimate of $77.33 million. Amalgamated Financial had a return on equity of 16.23% and a net margin of 23.64%. During the same period last year, the business posted $0.72 EPS. 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 traded up $0.27 during trading on Thursday, reaching $34.79. 140,388 shares of the stock were exchanged, compared to its average volume of 142,789. Amalgamated Financial has a 1 year low of $15.19 and a 1 year high of $34.91. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 11.37 and a beta of 0.92. The business's 50 day moving average price is $31.18 and its two-hundred day moving average price is $27.76. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.63 and a quick ratio of 0.63.

Amalgamated Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Tuesday, August 6th were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.48 dividend on an annualized basis and a yield of 1.38%. Amalgamated Financial's payout ratio is 15.69%.

Wall Street Analyst Weigh In

Several research firms have recently commented on AMAL. JPMorgan Chase & Co. increased their price target on shares of Amalgamated Financial from $31.50 to $32.50 and gave the company an "overweight" rating in a research report on Thursday, June 27th. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $35.00 target price (up previously from $30.00) on shares of Amalgamated Financial in a report on Monday, July 29th.

Insiders Place Their Bets

In other Amalgamated Financial news, major shareholder United Canada Council Workers sold 44,577 shares of the business's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $29.97, for a total value of $1,335,972.69. Following the completion of the transaction, the insider now directly owns 384,980 shares in the company, valued at approximately $11,537,850.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.90% of the stock is owned by corporate insiders.

About Amalgamated Financial

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.