Amalgamated Bank (NASDAQ:AMAL) Receives $18.67 Consensus Price Target from Brokerages

Amalgamated Bank (NASDAQ:AMAL) has been given an average rating of “Hold” by the eight brokerages that are covering the stock, reports. Three research analysts have rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $18.67.

A number of analysts have issued reports on AMAL shares. BidaskClub raised Amalgamated Bank from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. raised their target price on Amalgamated Bank from $12.50 to $14.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Zacks Investment Research lowered Amalgamated Bank from a “hold” rating to a “sell” rating in a report on Monday, August 31st. Finally, Raymond James reaffirmed a “buy” rating on shares of Amalgamated Bank in a report on Wednesday, September 9th.

Shares of AMAL traded down $0.58 on Tuesday, reaching $11.83. 325,558 shares of the company’s stock traded hands, compared to its average volume of 51,792. The stock has a market cap of $375.84 million, a PE ratio of 8.39 and a beta of 0.80. The stock’s 50 day simple moving average is $12.03 and its two-hundred day simple moving average is $11.32. Amalgamated Bank has a 52-week low of $7.90 and a 52-week high of $20.00.

Amalgamated Bank (NASDAQ:AMAL) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.08. The business had revenue of $53.11 million for the quarter, compared to analysts’ expectations of $50.15 million. As a group, analysts forecast that Amalgamated Bank will post 1.22 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Wednesday, August 19th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Tuesday, August 18th. Amalgamated Bank’s dividend payout ratio is 21.48%.

Large investors have recently bought and sold shares of the stock. Emerald Mutual Fund Advisers Trust bought a new stake in Amalgamated Bank during the second quarter valued at $30,000. FinTrust Capital Advisors LLC bought a new stake in Amalgamated Bank during the second quarter valued at $49,000. Citigroup Inc. boosted its stake in Amalgamated Bank by 90.5% during the first quarter. Citigroup Inc. now owns 5,384 shares of the company’s stock valued at $58,000 after buying an additional 2,558 shares during the period. Marshall Wace LLP bought a new stake in Amalgamated Bank during the first quarter valued at $135,000. Finally, Envestnet Asset Management Inc. bought a new stake in Amalgamated Bank during the second quarter valued at $145,000. 37.20% of the stock is owned by institutional investors.

Amalgamated Bank Company Profile

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.

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