Brokerages Set Amalgamated Financial Corp. (NASDAQ:AMAL) Price Target at $16.63

Amalgamated Financial Corp. (NASDAQ:AMAL) has been given an average recommendation of “Buy” by the six research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $16.63.

Several analysts recently issued reports on the stock. TheStreet raised shares of Amalgamated Financial from a “c” rating to a “b” rating in a report on Monday, June 7th. Zacks Investment Research raised shares of Amalgamated Financial from a “sell” rating to a “hold” rating in a report on Thursday, July 1st.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Amalgamated Financial by 9.2% in the 1st quarter. BlackRock Inc. now owns 1,260,514 shares of the company’s stock valued at $20,913,000 after buying an additional 106,484 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Amalgamated Financial by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 992,670 shares of the company’s stock valued at $15,515,000 after buying an additional 6,220 shares in the last quarter. Basswood Capital Management L.L.C. raised its stake in shares of Amalgamated Financial by 34.8% in the 2nd quarter. Basswood Capital Management L.L.C. now owns 777,727 shares of the company’s stock valued at $12,156,000 after buying an additional 200,768 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Amalgamated Financial by 10.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 688,434 shares of the company’s stock valued at $10,761,000 after buying an additional 66,053 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC raised its stake in shares of Amalgamated Financial by 1.9% in the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 538,059 shares of the company’s stock valued at $8,410,000 after buying an additional 10,000 shares in the last quarter. Institutional investors own 37.72% of the company’s stock.

AMAL stock traded down $0.29 during trading hours on Friday, hitting $14.15. The company’s stock had a trading volume of 1,082 shares, compared to its average volume of 64,370. The stock has a 50 day moving average price of $15.44 and a two-hundred day moving average price of $16.11. The company has a market capitalization of $440.01 million, a PE ratio of 9.10 and a beta of 0.84. Amalgamated Financial has a 12 month low of $10.20 and a 12 month high of $20.22.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Wednesday, July 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.04). On average, analysts predict that Amalgamated Financial will post 1.5 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Wednesday, August 18th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Tuesday, August 17th. Amalgamated Financial’s dividend payout ratio (DPR) is presently 19.88%.

About Amalgamated Financial

Operates as a bank holding company whose subsidiary provides banking services

Further Reading: Average Daily Trade Volume Explained

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