Amalgamated Bank (NASDAQ:AMAL) had its target price cut by Barclays from $22.00 to $20.00 in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the stock.

Other analysts have also issued reports about the company. Zacks Investment Research upgraded Amalgamated Bank from a hold rating to a buy rating and set a $18.00 target price on the stock in a research note on Monday, September 9th. ValuEngine lowered Amalgamated Bank from a hold rating to a sell rating in a research note on Tuesday, July 23rd.

Shares of AMAL opened at $15.65 on Friday. The firm has a market cap of $497.22 million and a PE ratio of 11.51. The stock’s fifty day moving average price is $15.95 and its two-hundred day moving average price is $16.59. Amalgamated Bank has a 1 year low of $14.58 and a 1 year high of $22.97.

Amalgamated Bank (NASDAQ:AMAL) last issued its earnings results 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 the consensus estimate of $49.15 million. On average, equities analysts forecast that Amalgamated Bank will post 1.47 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were paid a dividend of $0.06 per share. The ex-dividend date was Wednesday, August 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.53%. Amalgamated Bank’s payout ratio is 17.65%.

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Amalgamated Bank by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,120,321 shares of the company’s stock valued at $19,549,000 after purchasing an additional 25,916 shares during the period. BlackRock Inc. raised its stake in shares of Amalgamated Bank by 16.1% during the 2nd quarter. BlackRock Inc. now owns 884,496 shares of the company’s stock valued at $15,435,000 after purchasing an additional 122,905 shares during the period. Mendon Capital Advisors Corp raised its stake in shares of Amalgamated Bank by 2.1% during the 2nd quarter. Mendon Capital Advisors Corp now owns 712,577 shares of the company’s stock valued at $12,434,000 after purchasing an additional 14,694 shares during the period. Reynders McVeigh Capital Management LLC raised its stake in shares of Amalgamated Bank by 8.5% during the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 239,327 shares of the company’s stock valued at $4,176,000 after purchasing an additional 18,798 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Amalgamated Bank by 5.3% during the 2nd quarter. Northern Trust Corp now owns 129,374 shares of the company’s stock valued at $2,258,000 after purchasing an additional 6,454 shares during the period. Institutional investors own 40.01% of the company’s stock.

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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