Amalgamated Financial rises on better-than-expected quarterly profit

Amalgamated Financial

27/10/2022 17:15

** Shares of commercial lender and trusts manager Amalgamated
Financial Corp  AMAL.O  jump nearly 7% to $24.64 on record
earnings
    ** Co's third-quarter adjusted EPS of 77 cents beats analyst
estimates of 69 cents - Refinitiv IBES 
    ** Co posts a 59% surge in net income to a record $22.9
million for the three months ended Sept. 30 from a year earlier 
    ** AMAL net interest income rises 56% to $67.6 million from
the year before vs average Wall Street estimate of $60 million -
Refinitiv IBES data 
    ** Subsidiary Amalgamated Bank provided a $15 million loan
earlier this year to clean energy finance firm Inclusive
Prosperity Capital to push climate initiatives, a month after
the appointment of Meredith Miller to board, a corporate
governance veteran with ESG experience  urn:newsml:reuters.com:*:nGNX3RtNDr  urn:newsml:reuters.com:*:nASA03HSZ
    ** YTD, AMAL shares up ~48% including session moves 
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com;))