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Amalgamated Financial (AMAL) Gains As Market Dips: What You Should Know
Amalgamated Financial (AMAL - Free Report) closed the most recent trading day at $26.80, moving +0.22% from the previous trading session. This change outpaced the S&P 500's 0.12% loss on the day. At the same time, the Dow added 0.1%, and the tech-heavy Nasdaq gained 0.05%.
Coming into today, shares of the bank had gained 11.28% in the past month. In that same time, the Finance sector gained 5.77%, while the S&P 500 gained 5.93%.
Investors will be hoping for strength from Amalgamated Financial as it approaches its next earnings release. In that report, analysts expect Amalgamated Financial to post earnings of $0.71 per share. This would mark year-over-year growth of 33.96%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $71.3 million, up 19.95% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.61 per share and revenue of $265.8 million. These totals would mark changes of +51.74% and +31.13%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Amalgamated Financial. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.24% higher. Amalgamated Financial is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Amalgamated Financial currently has a Forward P/E ratio of 10.24. Its industry sports an average Forward P/E of 8.79, so we one might conclude that Amalgamated Financial is trading at a premium comparatively.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 6, which puts it in the top 3% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.