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Is Amalgamated Financial (AMAL) Outperforming Other Finance Stocks This Year?
For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Amalgamated Financial (AMAL - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Amalgamated Financial is a member of the Finance sector. This group includes 885 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Amalgamated Financial is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for AMAL's full-year earnings has moved 6.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that AMAL has returned about 51.3% since the start of the calendar year. In comparison, Finance companies have returned an average of -10.7%. This means that Amalgamated Financial is performing better than its sector in terms of year-to-date returns.
Bar Harbor Bankshares (BHB - Free Report) is another Finance stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 4.5%.
The consensus estimate for Bar Harbor Bankshares' current year EPS has increased 2.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Amalgamated Financial belongs to the Financial - SBIC & Commercial Industry industry, a group that includes 36 individual companies and currently sits at #5 in the Zacks Industry Rank. Stocks in this group have lost about 5.1% so far this year, so AMAL is performing better this group in terms of year-to-date returns.
Bar Harbor Bankshares, however, belongs to the Banks - Northeast industry. Currently, this 88-stock industry is ranked #31. The industry has moved -12.1% so far this year.
Investors with an interest in Finance stocks should continue to track Amalgamated Financial and Bar Harbor Bankshares. These stocks will be looking to continue their solid performance.