Amalgamated Financial Corp. (NASDAQ:AMAL) Receives Average Rating of “Buy” from Brokerages

Shares of Amalgamated Financial Corp. (NASDAQ:AMAL) have received a consensus recommendation of “Buy” from the six ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $16.63.

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

AMAL traded up $0.54 during midday trading on Friday, hitting $14.48. The company had a trading volume of 526,561 shares, compared to its average volume of 67,018. Amalgamated Financial has a 52 week low of $10.20 and a 52 week high of $20.22. The company has a market capitalization of $450.27 million, a price-to-earnings ratio of 8.89 and a beta of 0.84. The stock’s 50 day moving average price is $15.39 and its 200 day moving average price is $16.08.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings results on Wednesday, July 28th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.04). Sell-side analysts forecast that Amalgamated Financial will post 1.5 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Wednesday, August 18th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Tuesday, August 17th. Amalgamated Financial’s dividend payout ratio (DPR) is presently 19.88%.

A number of institutional investors have recently added to or reduced their stakes in AMAL. Federated Hermes Inc. boosted its stake in Amalgamated Financial by 91.6% in the first quarter. Federated Hermes Inc. now owns 1,849 shares of the company’s stock valued at $31,000 after acquiring an additional 884 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Amalgamated Financial during the 1st quarter valued at approximately $37,000. Advisor Group Holdings Inc. lifted its stake in shares of Amalgamated Financial by 3,800.0% during the 2nd quarter. Advisor Group Holdings Inc. now owns 4,875 shares of the company’s stock valued at $76,000 after buying an additional 4,750 shares in the last quarter. UBS Group AG lifted its stake in shares of Amalgamated Financial by 19.1% during the 1st quarter. UBS Group AG now owns 7,600 shares of the company’s stock valued at $126,000 after buying an additional 1,217 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Amalgamated Financial during the 1st quarter valued at approximately $135,000. Institutional investors and hedge funds own 37.72% of the company’s stock.

Amalgamated Financial Company Profile

Operates as a bank holding company whose subsidiary provides banking services

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