Amalgamated Bank (NASDAQ:AMAL) Stock Rating Upgraded by BidaskClub

Share on StockTwits

BidaskClub upgraded shares of Amalgamated Bank (NASDAQ:AMAL) from a sell rating to a hold rating in a report released on Saturday, BidAskClub reports.

Several other analysts have also recently commented on AMAL. TheStreet cut Amalgamated Bank from a c- rating to a d+ rating in a report on Friday, March 20th. ValuEngine cut Amalgamated Bank from a hold rating to a sell rating in a report on Thursday, April 2nd. Zacks Investment Research upgraded Amalgamated Bank from a strong sell rating to a hold rating in a report on Tuesday, May 19th. Finally, Raymond James reduced their target price on Amalgamated Bank from $15.00 to $13.00 and set an outperform rating on the stock in a report on Friday, May 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $19.25.

Shares of AMAL stock opened at $12.58 on Friday. The business’s 50 day simple moving average is $11.18 and its 200 day simple moving average is $14.08. Amalgamated Bank has a one year low of $7.90 and a one year high of $20.00. The stock has a market capitalization of $399.36 million, a PE ratio of 8.80 and a beta of 0.86.

Amalgamated Bank (NASDAQ:AMAL) last announced its earnings results on Thursday, April 30th. The company reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.06). The company had revenue of $53.81 million during the quarter, compared to analyst estimates of $48.94 million. Sell-side analysts predict that Amalgamated Bank will post 1.16 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Thursday, May 14th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Wednesday, May 13th. Amalgamated Bank’s payout ratio is 21.48%.

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in shares of Amalgamated Bank by 6.9% during the 1st quarter. BlackRock Inc. now owns 1,116,999 shares of the company’s stock worth $12,085,000 after buying an additional 72,182 shares in the last quarter. Cramer Rosenthal Mcglynn LLC raised its position in shares of Amalgamated Bank by 12.8% during the first 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. Patriot Financial Partners GP LP raised its position in shares of Amalgamated Bank by 40.3% during the first 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. FMR LLC raised its position in shares of Amalgamated Bank by 201.6% during the fourth quarter. FMR LLC now owns 464,800 shares of the company’s stock worth $9,040,000 after purchasing an additional 310,700 shares during the period. Finally, Reynders McVeigh Capital Management LLC raised its position in shares of Amalgamated Bank by 10.2% during the fourth quarter. Reynders McVeigh Capital Management LLC now owns 274,366 shares of the company’s stock worth $5,336,000 after purchasing an additional 25,428 shares during the period. Hedge funds and other institutional investors own 37.44% of the company’s stock.

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.

Featured Story: Hedge Funds – Risk or Reward?

Receive News & Ratings for Amalgamated Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amalgamated Bank and related companies with MarketBeat.com's FREE daily email newsletter.