Amalgamated Bank reports results for the quarter ended in March - Earnings Summary

Amalgamated Financial

25/04/2024 15:08

* Amalgamated Bank  AMAL.OQ  reported quarterly adjusted
earnings
of 83 cents​​ per share for the quarter ended in March, higher
than the same quarter last year, when the company reported EPS
of 74 cents.  The mean expectation of three analysts for the
quarter was for earnings of 74 cents per share. Wall Street
expected results to range from 69 cents to 77 cents per share.
    * Revenue rose 8% to $78.27 million from a year ago;
analysts
expected $75.89 million. 
    * Amalgamated Bank's reported EPS for the quarter was 89
cents​.
    * The company reported quarterly net income of $27.25
million.
    * Amalgamated Bank shares had fallen by 0.1% this
quarter and
lost 11.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 5.3%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for Amalgamated Bank
is $29.00 
This summary was machine generated from LSEG data April 25 at
02:08 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.74           0.83           Beat
 Dec. 31 2023      0.72           0.72           Met
 Sep. 30 2023      0.70           0.76           Beat
 Jun. 30 2023      0.74           0.72           Missed