Amalgamated Financial (AMAL) Stock

Does Amalgamated Financial (AMAL) have what it takes to be a top stock pick for momentum investors? Let's find out.

Amalgamated Financial (AMAL) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Amalgamated Financial (AMAL) came out with quarterly earnings of $0.91 per share, beating the Zacks Consensus Estimate of $0.83 per share. This compares to earnings of $0.76 per share a year ago.

YoY Tangible Book Value per share Growth of 27.9% | Deposits Higher by $311 million YoY Tangible Book Value per share Growth of 27.9% | Deposits Higher by $311 million

NEW YORK, Oct. 22, 2024 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. (“Amalgamated” or the “Company”) (Nasdaq: AMAL) today announced that its Board of Directors has declared a regular dividend to common stockholders of $0.12 per share, payable by the Company on November 21, 2024, to stockholders of record on November 5, 2024. The amount and timing of any future dividend payments to stockholders will be subject to the discretion of the Board of Directors.

NEW YORK, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. (“Amalgamated” or the “Company”) (Nasdaq: AMAL) today announced that its third quarter 2024 financial results will be released before market open on Thursday, October 24, 2024. The Company will host a conference call at 11:00 a.m. Eastern Time on the same day to discuss the financial results.

Earnings will benefit this year from on and off-balance sheet political deposits. The residential mortgage segment will likely drive loan growth next year. It will counter the negative effect of interest rate cuts on the margin. I'm increasing my earnings estimate following the better-than-expected first-half results.

AMAL, SN and SBSI made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on August 16, 2024.

The mean of analysts' price targets for Amalgamated Financial (AMAL) points to a 28% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.