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Amalgamated Bank (AMAL) is a stock worth looking into now

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Amalgamated Bank (AMAL) stock surged 5.45% to $14.52 at yesterday’s close. The history of low and high prices over 52 weeks can tell much about a stock’s status and future performance. As of today, Amalgamated Bank shares are down -25.27% from the 52-week high and up 83.80% from the lowest price of the same timeframe. A 52-week range of $7.90 to $19.43 remained the stock’s average price performance.

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January 28, 2021, Amalgamated Bank (AMAL) has revealed their upbeat Earnings report topping analyst estimates.

Amalgamated Bank (AMAL) beat the Zacks Consensus Estimate of $0.33 per share with quarterly earnings of $0.44. The company has reported earnings of $0.39 per share in the past year. These figures are adjusted for non-recurring items.

The quarter’s earnings surprise was 33.33%. Earnings were expected to be $0.42 a quarter ago when $0.54 showed up, delivering a 28.57% surprise.

EPS estimates have been exceeded three times in the last four quarters by the company.

Amalgamated Bank reported $55.70 million in sales for the quarter ended December 2020, surpassing the Zacks Consensus Estimate by 12.40%. These figures compare to $50.03 million in revenue a year earlier. Four times over the last four quarters, the company’s revenue exceeded consensus estimates.

Shares of Amalgamated Bank are up about 6.6% versus the S&P 500’s gain of 2.5% since the beginning of the year.

What’s Up with the Stock?

This year, Amalgamated Bank has been outperforming the market, but investors wonder what’s next.

The answer to this crucial question is not simple, but investors can address it by looking at its earnings forecast. This includes estimate changes for the current quarter, plus projections for the coming quarters.

The coming quarters and current fiscal year estimates will be interesting to see. Based on the current consensus estimates, earnings per share will be $0.36 on $48.57 million in revenues for the coming quarter and $1.35 on $202.42 million in revenues for the full fiscal year.

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Also, the economic outlook for the industry can impact the performance of the stock. According to Zacks Industry Rank, Banks – Northeast belongs to the top 19% of more than 250 industries tracked by Zacks.

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