29,503 Shares in Amalgamated Bank (AMAL) Purchased by ELCO Management Co. LLC

ELCO Management Co. LLC purchased a new stake in shares of Amalgamated Bank (NASDAQ:AMAL) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 29,503 shares of the company’s stock, valued at approximately $569,000.

Several other hedge funds have also made changes to their positions in AMAL. BlackRock Inc. purchased a new stake in shares of Amalgamated Bank during the 3rd quarter valued at approximately $12,879,000. Alliancebernstein L.P. purchased a new stake in shares of Amalgamated Bank during the 3rd quarter valued at approximately $6,003,000. Trillium Asset Management LLC purchased a new stake in shares of Amalgamated Bank during the 3rd quarter valued at approximately $4,596,000. Peregrine Capital Management LLC purchased a new stake in shares of Amalgamated Bank during the 3rd quarter valued at approximately $3,330,000. Finally, FMR LLC purchased a new stake in shares of Amalgamated Bank during the 3rd quarter valued at approximately $3,162,000. Institutional investors own 7.07% of the company’s stock.

Amalgamated Bank stock opened at $20.15 on Friday. Amalgamated Bank has a 1-year low of $13.25 and a 1-year high of $22.97.

Amalgamated Bank (NASDAQ:AMAL) last posted its earnings results on Monday, October 29th. The company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.03. The firm had revenue of $47.59 million for the quarter, compared to the consensus estimate of $46.44 million. On average, equities analysts forecast that Amalgamated Bank will post 1.42 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 26th. Investors of record on Friday, November 16th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Thursday, November 15th.

A number of analysts recently commented on AMAL shares. JPMorgan Chase & Co. initiated coverage on shares of Amalgamated Bank in a research note on Tuesday, September 4th. They set an “overweight” rating and a $21.00 price target on the stock. Sandler O’Neill initiated coverage on shares of Amalgamated Bank in a report on Tuesday, September 4th. They set a “buy” rating and a $21.00 target price on the stock. Barclays initiated coverage on shares of Amalgamated Bank in a report on Wednesday, September 5th. They set an “overweight” rating and a $20.00 target price on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Amalgamated Bank in a report on Tuesday, September 4th. They set a “market perform” rating and a $19.00 target price on the stock. Finally, ValuEngine lowered shares of Amalgamated Bank from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Amalgamated Bank currently has an average rating of “Buy” and a consensus price target of $20.42.

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Amalgamated Bank Company Profile

Amalgamated Bank provides personal and commercial banking products and services to working families, unions, commercial real estate industries, healthcare markets, institutional investors, law firms, non-profits, and political organizations in the United States. The company offers checking, savings, certificates of deposit, money market, and individual retirement accounts; home equity lines of credit options, mortgages, and personal loans and lines of credit options; and commercial loans (lines of credit, letters of credit, and term loans).

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Institutional Ownership by Quarter for Amalgamated Bank (NASDAQ:AMAL)

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