Shares of Amalgamated Bank (NASDAQ:AMAL) have been assigned an average recommendation of “Buy” from the eight analysts that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $19.92.
Several research firms have recently issued reports on AMAL. ValuEngine raised Amalgamated Bank from a “sell” rating to a “hold” rating in a report on Monday, May 20th. Raymond James set a $19.00 target price on Amalgamated Bank and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, Zacks Investment Research raised Amalgamated Bank from a “sell” rating to a “hold” rating in a report on Thursday, March 21st.
Hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new position in shares of Amalgamated Bank in the third quarter valued at approximately $28,000. BNP Paribas Arbitrage SA grew its holdings in Amalgamated Bank by 679.4% during the first quarter. BNP Paribas Arbitrage SA now owns 2,502 shares of the company’s stock valued at $39,000 after purchasing an additional 2,181 shares during the period. Metropolitan Life Insurance Co. NY bought a new position in Amalgamated Bank during the fourth quarter valued at $86,000. MetLife Investment Advisors LLC bought a new position in Amalgamated Bank during the fourth quarter valued at $117,000. Finally, Bank of America Corp DE grew its holdings in Amalgamated Bank by 269.4% during the fourth quarter. Bank of America Corp DE now owns 7,437 shares of the company’s stock valued at $144,000 after purchasing an additional 5,424 shares during the period. 39.97% of the stock is owned by institutional investors.
Shares of AMAL stock traded down $0.14 during trading on Friday, hitting $17.00. The company’s stock had a trading volume of 26,320 shares, compared to its average volume of 46,545. The firm has a market cap of $536.93 million and a PE ratio of 12.42. Amalgamated Bank has a 52 week low of $13.25 and a 52 week high of $22.97.
Amalgamated Bank (NASDAQ:AMAL) last released its earnings results on Tuesday, April 30th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $48.19 million during the quarter, compared to the consensus estimate of $47.79 million. On average, equities research analysts anticipate that Amalgamated Bank will post 1.45 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Thursday, May 16th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Wednesday, May 15th. Amalgamated Bank’s dividend payout ratio is presently 17.65%.
Amalgamated Bank Company Profile
Amalgamated Bank, together with its subsidiaries, provides commercial banking and retail banking products and services in the United States. The company offers deposit products, including time deposits, non-interest and interest-bearing demand accounts, savings and money market accounts, NOW accounts, and certificates of deposit.
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