Amalgamated Financial Posts $36.4M Third-Quarter Net Income
AMAL sits 84% above its 52-week low of $26.03.
Summary
Amalgamated Financial reported third-quarter net income of $36.4 million, with EPS of $1.20 and revenue of $101.7 million, on a 3.77% margin in record earnings and profitability. That is the first hard number on the quarter and the key input for the earnings reaction. It follows a Q2 that set a record profit but saw nonperforming assets nearly quadruple after a single-borrower multifamily loan default, so credit quality is the line item that matters most here. The stock trades near $47.82 against a market cap of roughly $1.4 billion.
At the time of this announcement, AMAL was trading at $47.82 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.4B. The 52-week trading range was $26.03 to $51.59. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.