Amalgamated Financial Posts $36.4M Q3 Profit, Beats Analyst Estimates

Amalgamated Financial Corp. (AMAL) reported third-quarter profit of $36.4 million on Thursday, topping Wall Street expectations. The New York-based bank earned $1.20 per share, or $1.14 per share adjusted for non-recurring gains. Three analysts surveyed by Zacks Investment Research had expected $1.08 per share on average. Revenue totaled $133.6 million, with adjusted revenue of $101.7 million. Amalgamated shares have climbed 49% since the start of the year and 79% over the past 12 months.