Amalgamated Bank (NASDAQ:AMAL) Given Consensus Rating of “Buy” by Brokerages
Shares of Amalgamated Bank (NASDAQ:AMAL) have received an average recommendation of “Buy” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Four investment 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 issued ratings on the stock in the last year is $19.92.
Several analysts recently weighed in on AMAL shares. Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. Raymond James reissued a “buy” rating on shares of Teck Resources in a report on Thursday, April 4th. Finally, ValuEngine cut Wolverine World Wide from a “hold” rating to a “sell” rating in a report on Monday, May 20th.
Institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA increased its stake in Amalgamated Bank by 679.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,502 shares of the company’s stock worth $39,000 after acquiring an additional 2,181 shares during the period. Metropolitan Life Insurance Co. NY bought a new position in Amalgamated Bank during the 4th quarter worth $86,000. MetLife Investment Advisors LLC bought a new position in Amalgamated Bank during the 4th quarter worth $117,000. Marshall Wace LLP bought a new position in Amalgamated Bank during the 1st quarter worth $135,000. Finally, Bank of America Corp DE increased its stake in Amalgamated Bank by 269.4% during the 4th quarter. Bank of America Corp DE now owns 7,437 shares of the company’s stock worth $144,000 after acquiring an additional 5,424 shares during the period. Hedge funds and other institutional investors own 39.97% of the company’s stock.
Amalgamated Bank (NASDAQ:AMAL) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The firm had revenue of $48.19 million for the quarter, compared to analyst estimates of $47.79 million. Equities analysts forecast that Amalgamated Bank will post 1.45 EPS for the current fiscal year.
About Amalgamated Bank
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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