BidaskClub upgraded shares of Amalgamated Bank (NASDAQ:AMAL) from a sell rating to a hold rating in a report released on Saturday, BidAskClub reports.

Other equities analysts have also recently issued reports about the company. TheStreet cut Amalgamated Bank from a c- rating to a d+ rating in a research note on Friday, March 20th. Zacks Investment Research raised Amalgamated Bank from a strong sell rating to a hold rating in a research note on Tuesday, May 19th. ValuEngine cut Amalgamated Bank from a hold rating to a sell rating in a research note on Thursday, April 2nd. Finally, Raymond James decreased their price target on Amalgamated Bank from $15.00 to $13.00 and set an outperform rating on the stock in a research note on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $19.25.

Shares of NASDAQ AMAL opened at $12.58 on Friday. The stock has a market cap of $399.36 million, a price-to-earnings ratio of 8.80 and a beta of 0.86. Amalgamated Bank has a 1-year low of $7.90 and a 1-year high of $20.00. The stock’s 50-day moving average is $11.18 and its 200 day moving average is $14.08.

Amalgamated Bank (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.06). The company had revenue of $53.81 million during the quarter, compared to the consensus estimate of $48.94 million. As a group, sell-side analysts anticipate that Amalgamated Bank will post 1.16 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Thursday, May 14th were given a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.54%. Amalgamated Bank’s dividend payout ratio is currently 21.48%.

Several hedge funds have recently modified their holdings of the company. State Street Corp grew its position in shares of Amalgamated Bank by 1.3% in the 1st quarter. State Street Corp now owns 259,710 shares of the company’s stock worth $2,810,000 after buying an additional 3,252 shares during the last quarter. Engineers Gate Manager LP grew its position in shares of Amalgamated Bank by 30.7% in the 1st quarter. Engineers Gate Manager LP now owns 28,960 shares of the company’s stock worth $313,000 after buying an additional 6,794 shares during the last quarter. Invesco Ltd. bought a new stake in shares of Amalgamated Bank during the first quarter valued at approximately $194,000. Cramer Rosenthal Mcglynn LLC boosted its position in shares of Amalgamated Bank by 12.8% during the first quarter. Cramer Rosenthal Mcglynn LLC now owns 1,001,649 shares of the company’s stock valued at $10,838,000 after purchasing an additional 113,934 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of Amalgamated Bank by 6.1% during the first quarter. Two Sigma Advisers LP now owns 40,300 shares of the company’s stock valued at $436,000 after purchasing an additional 2,300 shares in the last quarter. Hedge funds and other institutional investors own 37.44% of the company’s stock.

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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