Shares of Amalgamated Bank (NASDAQ:AMAL) have received a consensus recommendation of “Buy” from the eight research firms that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $19.92.
A number of equities analysts have weighed in on the company. ValuEngine raised Amalgamated Bank from a “sell” rating to a “hold” rating in a research report on Monday, May 20th. Zacks Investment Research raised Amalgamated Bank from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Finally, Raymond James set a $19.00 price target on Amalgamated Bank and gave the stock a “buy” rating in a research report on Thursday, April 4th.
A number of large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new position in Amalgamated Bank during the 1st quarter worth approximately $135,000. Reynders McVeigh Capital Management LLC boosted its position in Amalgamated Bank by 68.9% during the 1st quarter. Reynders McVeigh Capital Management LLC now owns 220,529 shares of the company’s stock worth $3,451,000 after acquiring an additional 89,966 shares during the last quarter. Acadian Asset Management LLC boosted its position in Amalgamated Bank by 87.7% during the 1st quarter. Acadian Asset Management LLC now owns 70,324 shares of the company’s stock worth $1,102,000 after acquiring an additional 32,864 shares during the last quarter. Rhumbline Advisers boosted its position in Amalgamated Bank by 10.1% during the 1st quarter. Rhumbline Advisers now owns 13,951 shares of the company’s stock worth $218,000 after acquiring an additional 1,275 shares during the last quarter. Finally, First Republic Investment Management Inc. acquired a new position in Amalgamated Bank during the 1st quarter worth approximately $275,000. 39.97% of the stock is owned by hedge funds and other institutional investors.
Amalgamated Bank (NASDAQ:AMAL) last posted its earnings results on Tuesday, April 30th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $48.19 million for the quarter, compared to the consensus estimate of $47.79 million. Analysts anticipate that Amalgamated Bank will post 1.45 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Thursday, May 16th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Wednesday, May 15th. Amalgamated Bank’s dividend payout ratio (DPR) is currently 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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