FinTrust Capital Advisors LLC acquired a new position in shares of Amalgamated Bank (NASDAQ:AMAL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,899 shares of the company’s stock, valued at approximately $49,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Amalgamated Bank in the 2nd quarter valued at $30,000. Citigroup Inc. raised its holdings in Amalgamated Bank by 90.5% during the first quarter. Citigroup Inc. now owns 5,384 shares of the company’s stock worth $58,000 after buying an additional 2,558 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Amalgamated Bank in the first quarter valued at about $135,000. Envestnet Asset Management Inc. purchased a new stake in shares of Amalgamated Bank in the second quarter valued at about $145,000. Finally, Trexquant Investment LP purchased a new stake in shares of Amalgamated Bank in the second quarter valued at about $155,000. Hedge funds and other institutional investors own 37.20% of the company’s stock.
A number of analysts recently issued reports on AMAL shares. Zacks Investment Research downgraded shares of Amalgamated Bank from a “hold” rating to a “sell” rating in a report on Monday, August 31st. JPMorgan Chase & Co. lifted their target price on shares of Amalgamated Bank from $12.50 to $14.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Raymond James reiterated a “buy” rating on shares of Amalgamated Bank in a research report on Wednesday, September 9th. Finally, BidaskClub raised shares of Amalgamated Bank from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 13th. Three investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company. Amalgamated Bank currently has an average rating of “Hold” and an average price target of $16.60.
Shares of AMAL stock opened at $11.83 on Friday. The stock has a market cap of $375.85 million, a PE ratio of 8.39 and a beta of 0.80. Amalgamated Bank has a 12 month low of $7.90 and a 12 month high of $20.00. The company’s fifty day moving average price is $12.03 and its 200-day moving average price is $11.32.
Amalgamated Bank (NASDAQ:AMAL) last posted its earnings results on Tuesday, July 28th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. The firm had revenue of $53.11 million for the quarter, compared to the consensus estimate of $50.15 million. Equities research analysts expect that Amalgamated Bank will post 1.22 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Wednesday, August 19th were paid a $0.08 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $0.32 dividend on an annualized basis and a yield of 2.70%. Amalgamated Bank’s payout ratio is 21.48%.
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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