Amalgamated Bank (NASDAQ:AMAL) – Piper Sandler decreased their Q1 2020 EPS estimates for shares of Amalgamated Bank in a research note issued to investors on Monday, March 23rd. Piper Sandler analyst A. Twerdahl now expects that the company will post earnings per share of $0.37 for the quarter, down from their previous estimate of $0.39. Piper Sandler also issued estimates for Amalgamated Bank’s Q2 2020 earnings at $0.32 EPS, Q3 2020 earnings at $0.33 EPS, Q4 2020 earnings at $0.33 EPS, FY2020 earnings at $1.35 EPS, Q1 2021 earnings at $0.30 EPS, Q2 2021 earnings at $0.32 EPS, Q3 2021 earnings at $0.34 EPS, Q4 2021 earnings at $0.35 EPS and FY2021 earnings at $1.31 EPS.
A number of other research firms also recently weighed in on AMAL. ValuEngine raised Amalgamated Bank from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Barclays lifted their target price on Amalgamated Bank from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. TheStreet downgraded Amalgamated Bank from a “c-” rating to a “d+” rating in a research report on Friday, March 20th. Zacks Investment Research downgraded Amalgamated Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, BidaskClub downgraded Amalgamated Bank from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $20.75.
AMAL stock opened at $9.78 on Wednesday. Amalgamated Bank has a twelve month low of $7.90 and a twelve month high of $20.00. The company has a market cap of $294.65 million, a PE ratio of 6.70 and a beta of 0.52. The business’s 50-day simple moving average is $15.20 and its 200 day simple moving average is $17.35.
Amalgamated Bank (NASDAQ:AMAL) last posted its quarterly earnings data on Friday, January 31st. The company reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. The business had revenue of $50.03 million during the quarter, compared to the consensus estimate of $49.80 million.
A number of hedge funds have recently added to or reduced their stakes in AMAL. Marshall Wace LLP acquired a new stake in Amalgamated Bank during the first quarter worth about $135,000. FMR LLC boosted its holdings in Amalgamated Bank by 4,761.4% during the first quarter. FMR LLC now owns 24,307 shares of the company’s stock valued at $380,000 after purchasing an additional 23,807 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Amalgamated Bank by 22.3% during the third quarter. Russell Investments Group Ltd. now owns 26,663 shares of the company’s stock valued at $427,000 after purchasing an additional 4,857 shares in the last quarter. Voya Investment Management LLC acquired a new stake in Amalgamated Bank during the third quarter valued at approximately $322,000. Finally, State Street Corp boosted its holdings in Amalgamated Bank by 20.1% during the third quarter. State Street Corp now owns 227,782 shares of the company’s stock valued at $3,649,000 after purchasing an additional 38,043 shares in the last quarter. 37.85% of the stock is currently owned by institutional investors and hedge funds.
The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 21st were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Thursday, February 20th. Amalgamated Bank’s dividend payout ratio (DPR) is presently 21.48%.
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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