Amalgamated Bank (NASDAQ:AMAL) PT Lowered to $20.00

Amalgamated Bank (NASDAQ:AMAL) had its price target cut by Barclays from $22.00 to $20.00 in a research report sent to investors on Friday, BenzingaRatingsTable reports. They currently have an overweight rating on the stock.

A number of other research analysts have also commented on AMAL. Zacks Investment Research raised Amalgamated Bank from a hold rating to a buy rating and set a $18.00 price target for the company in a research report on Monday, September 9th. ValuEngine lowered Amalgamated Bank from a hold rating to a sell rating in a research report on Tuesday, July 23rd.

NASDAQ AMAL opened at $15.65 on Friday. Amalgamated Bank has a 1-year low of $14.58 and a 1-year high of $22.97. The stock has a 50-day moving average of $15.95 and a 200-day moving average of $16.59. The firm has a market cap of $497.22 million and a PE ratio of 11.51.

Amalgamated Bank (NASDAQ:AMAL) last released its quarterly earnings results on Monday, July 29th. The company reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. The business had revenue of $48.21 million for the quarter, compared to the consensus estimate of $49.15 million. On average, sell-side analysts anticipate that Amalgamated Bank will post 1.47 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Wednesday, August 14th. Amalgamated Bank’s payout ratio is 17.65%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Amalgamated Bank by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,120,321 shares of the company’s stock valued at $19,549,000 after purchasing an additional 25,916 shares during the last quarter. BlackRock Inc. raised its position in Amalgamated Bank by 16.1% during the 2nd quarter. BlackRock Inc. now owns 884,496 shares of the company’s stock valued at $15,435,000 after purchasing an additional 122,905 shares during the last quarter. Mendon Capital Advisors Corp raised its position in Amalgamated Bank by 2.1% during the 2nd quarter. Mendon Capital Advisors Corp now owns 712,577 shares of the company’s stock valued at $12,434,000 after purchasing an additional 14,694 shares during the last quarter. BSW Wealth Partners bought a new position in Amalgamated Bank during the 2nd quarter valued at approximately $34,000. Finally, Domini Impact Investments LLC bought a new position in Amalgamated Bank during the 2nd quarter valued at approximately $302,000. 40.01% of the stock is owned by institutional investors and hedge funds.

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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