Amalgamated Bank (NASDAQ:AMAL) has been assigned an average recommendation of “Buy” from the eight analysts that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $19.92.
A number of equities analysts have recently weighed in on AMAL shares. Zacks Investment Research lowered Amalgamated Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, February 26th. ValuEngine raised Amalgamated Bank from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Raymond James set a $19.00 target price on Amalgamated Bank and gave the stock a “buy” rating in a research report on Thursday, April 4th.
Several large investors have recently modified their holdings of the company. Legal & General Group Plc bought a new stake in Amalgamated Bank during the third quarter worth $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 worth $39,000 after buying an additional 2,181 shares in the last quarter. Metropolitan Life Insurance Co. NY bought a new stake in Amalgamated Bank during the fourth quarter worth $86,000. MetLife Investment Advisors LLC bought a new stake in Amalgamated Bank during the fourth quarter worth $117,000. Finally, Marshall Wace LLP bought a new stake in Amalgamated Bank during the first quarter worth $135,000. 40.00% of the stock is currently owned by institutional investors.
Amalgamated Bank (NASDAQ:AMAL) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The business had revenue of $48.19 million during the quarter, compared to analyst estimates of $47.79 million. As a group, equities research analysts expect that Amalgamated Bank will post 1.45 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Thursday, May 16th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Wednesday, May 15th. Amalgamated Bank’s payout ratio is 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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