Home Earnings Preview Street Expectation From Amalgamated Bank ($AMAL) 3Q20 Earnings?

Street Expectation From Amalgamated Bank ($AMAL) 3Q20 Earnings?

Amalgamated Bank (NASDAQ:AMAL) is set to announce third quarter earning results on Wednesday 28th October 2020, before market open.

Analysts surveyed by Thomson Reuters are predicting, AMAL to report 3Q20 income of $ 0.41 per share.

For the full year, analysts anticipate top line of $ 207.71 million, while looking forward to income of $ 1.28 per share bottom line.

The Company Outlook

Earnings for 3Q20 are anticipated in a range of $ 0.39 ~ $ 0.42 per share

Click Here For More Historical Outlooks Of Amalgamated Bank

Previous Quarter Performance

Amalgamated Bank unveiled income for the second quarter of $ 0.34 per share, from the revenue of $ 53.11 million. The quarterly earnings decreased 5.56 percent while revenues improved 10.16 percent compared with the same quarter last year.
Wall street analysts are predicting, AMAL to report 2Q20 income of $ 0.26 per share from revenue of $ 50.38 million. The bottom line results beat street analysts by $ 0.08 or 30.77 percent, at the same time, top line results outshined analysts by $ 2.73 million or 5.42 percent.

Stock Performance

Shares of Amalgamated Bank traded low $ -0.27 or -2.27 percent on Tuesday, reaching $ 11.60 with volume of 18.40 thousand shares. Amalgamated Bank has traded high as $ 11.96 and has cracked $ 11.47 on the downward trend

According to the previous trading day, closing price of $ 11.60, representing a 50.25 % increase from the 52 week low of $ 7.90 and a 40.65 % decrease over the 52 week high of $ 20.00.

The company has a market capital of $ 360.17 million and is part of the Financial Services sector and Banks – Regional – US industry.

Recent Analyst recommendations

  • On 28th September 2020, maintained by Piper Sandler at Overweight rating, with $ 13.00 target price.

Recent Stock Dividend Announcement

On August 5, 2020, the board of directors authorized quarterly dividend of $ 0.08 per share to holders of record as of the close of business on August 19, 2020, with payment date of September 3, 2020 and ex-dividend date on August 18, 2020.

Conference Call

Amalgamated Bank will be hosting a conference call at 10:00 AM eastern time on 28th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.amalgamatedbank.com

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. It also provides residential mortgage and commercial real estate loans, commercial and industrial loans, multifamily mortgages, 1-4 family real estate loans, construction and land loans, leveraged loans for commercial loans, consumer/small business and purchased student loans, and home equity lines of credit; and debit and ATM card services.