Amalgamated Bank (NASDAQ:AMAL) has been given a consensus recommendation of “Buy” by the seven brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $17.25.
A number of equities analysts have recently commented on AMAL shares. BidaskClub raised shares of Amalgamated Bank from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Zacks Investment Research raised shares of Amalgamated Bank from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Wednesday, July 1st. ValuEngine cut shares of Amalgamated Bank from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. TheStreet cut shares of Amalgamated Bank from a “c-” rating to a “d+” rating in a research note on Friday, March 20th. Finally, Raymond James dropped their price objective on shares of Amalgamated Bank from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st.
A number of institutional investors and hedge funds have recently made changes to their positions in AMAL. FMR LLC increased its stake in Amalgamated Bank by 201.6% in the 4th quarter. FMR LLC now owns 464,800 shares of the company’s stock valued at $9,040,000 after buying an additional 310,700 shares during the period. Patriot Financial Partners GP LP grew its stake in shares of Amalgamated Bank by 40.3% during the 1st quarter. Patriot Financial Partners GP LP now owns 834,937 shares of the company’s stock worth $9,034,000 after purchasing an additional 240,000 shares during the period. Martingale Asset Management L P grew its stake in shares of Amalgamated Bank by 448.4% during the 1st quarter. Martingale Asset Management L P now owns 146,651 shares of the company’s stock worth $1,588,000 after purchasing an additional 119,908 shares during the period. Cramer Rosenthal Mcglynn LLC grew its stake in shares of Amalgamated Bank by 12.8% during the 1st quarter. Cramer Rosenthal Mcglynn LLC now owns 1,001,649 shares of the company’s stock worth $10,838,000 after purchasing an additional 113,934 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in shares of Amalgamated Bank by 257.5% during the 4th quarter. Nuveen Asset Management LLC now owns 139,482 shares of the company’s stock worth $2,713,000 after purchasing an additional 100,464 shares during the period. 37.44% of the stock is currently owned by institutional investors.
Shares of NASDAQ:AMAL traded down $0.66 during trading on Thursday, hitting $11.17. 1,676 shares of the company were exchanged, compared to its average volume of 70,540. The stock has a market capitalization of $370.12 million, a P/E ratio of 7.98 and a beta of 0.88. Amalgamated Bank has a 12-month low of $7.90 and a 12-month high of $20.00. The firm’s 50 day moving average price is $11.44 and its 200-day moving average price is $13.84.
Amalgamated Bank (NASDAQ:AMAL) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). The firm had revenue of $53.81 million for the quarter, compared to analyst estimates of $48.94 million. As a group, analysts forecast that Amalgamated Bank will post 1.22 EPS for the current fiscal year.
About Amalgamated Bank
Amalgamated Bank, together with its subsidiaries, operates as a commercial bank and a chartered trust company in the United States. The company offers deposit products, including non-interest and interest-bearing demand accounts, savings and money market accounts, NOW accounts, and certificates of deposit.
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