Socially responsible bank Amalgamated Financial (NASDAQ: AMAL) will be announcing earnings results tomorrow before market hours. Here’s what to look for.
Amalgamated Financial beat analysts’ revenue expectations by 3.4% last quarter, reporting revenues of $86.41 million, up 6.8% year on year. It was a strong quarter for the company, with a solid beat of analysts’ revenue estimates and an impressive beat of analysts’ net interest income estimates.
Is Amalgamated Financial a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Amalgamated Financial’s revenue to grow 4.1% year on year to $85.98 million, slowing from the 8.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.91 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Amalgamated Financial has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Amalgamated Financial’s peers in the regional banks segment, some have already reported their Q4 results, giving us a hint as to what we can expect. ServisFirst Bancshares delivered year-on-year revenue growth of 22.9%, beating analysts’ expectations by 6.8%, and Simmons First National reported revenues up 17.2%, topping estimates by 5.3%.
Read our full analysis of ServisFirst Bancshares’s results here and Simmons First National’s results here.
Investors in the regional banks segment have had steady hands going into earnings, with share prices flat over the last month. Amalgamated Financial is up 2.4% during the same time and is heading into earnings with an average analyst price target of $34.50 (compared to the current share price of $33.68).
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