Amalgamated Bank (NASDAQ:AMAL) Stock Rating Upgraded by ValuEngine

Amalgamated Bank (NASDAQ:AMAL) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, ValuEngine reports.

Several other equities research analysts also recently issued reports on the company. Barclays cut their price objective on Amalgamated Bank from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Zacks Investment Research downgraded Amalgamated Bank from a “hold” rating to a “strong sell” rating in a report on Monday.

Shares of AMAL stock traded up $0.05 on Wednesday, hitting $16.28. The stock had a trading volume of 42,638 shares, compared to its average volume of 46,234. The firm has a market capitalization of $517.23 million, a P/E ratio of 11.97 and a beta of 0.34. Amalgamated Bank has a 1 year low of $14.58 and a 1 year high of $22.97. The company’s 50 day moving average price is $15.81 and its 200-day moving average price is $16.49.

Amalgamated Bank (NASDAQ:AMAL) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.36 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The firm had revenue of $48.21 million during the quarter, compared to analysts’ expectations of $49.15 million. Equities analysts forecast that Amalgamated Bank will post 1.43 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can purchased a new stake in shares of Amalgamated Bank in the 2nd quarter valued at $30,000. BSW Wealth Partners purchased a new stake in Amalgamated Bank during the 2nd quarter worth about $34,000. BNP Paribas Arbitrage SA increased its holdings 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 purchasing an additional 2,181 shares during the period. JPMorgan Chase & Co. increased its holdings in Amalgamated Bank by 31.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,806 shares of the company’s stock worth $66,000 after purchasing an additional 920 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Amalgamated Bank during the 1st quarter worth about $135,000. Hedge funds and other institutional investors own 40.01% of the company’s stock.

Amalgamated Bank Company Profile

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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