Vanguard Group Inc. Takes $17.65 Million Position in Amalgamated Bank (AMAL)

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Vanguard Group Inc. purchased a new stake in shares of Amalgamated Bank (NASDAQ:AMAL) in the 3rd quarter, HoldingsChannel reports. The fund purchased 914,744 shares of the company’s stock, valued at approximately $17,645,000.

Several other hedge funds have also recently added to or reduced their stakes in AMAL. American International Group Inc. purchased a new stake in shares of Amalgamated Bank during the third quarter valued at about $126,000. Wells Fargo & Company MN purchased a new stake in shares of Amalgamated Bank during the third quarter valued at about $147,000. Laurion Capital Management LP purchased a new stake in shares of Amalgamated Bank during the third quarter valued at about $193,000. Wedbush Securities Inc. purchased a new stake in shares of Amalgamated Bank during the third quarter valued at about $215,000. Finally, Teachers Advisors LLC purchased a new stake in shares of Amalgamated Bank during the third quarter valued at about $244,000. 30.67% of the stock is owned by institutional investors and hedge funds.

AMAL has been the subject of several analyst reports. Zacks Investment Research raised shares of Amalgamated Bank from a “sell” rating to a “hold” rating in a research report on Monday, January 14th. ValuEngine lowered shares of Amalgamated Bank from a “hold” rating to a “sell” rating in a research report on Thursday, December 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Amalgamated Bank currently has an average rating of “Hold” and an average price target of $20.42.

Shares of Amalgamated Bank stock opened at $18.50 on Wednesday. The company has a market capitalization of $579.82 million and a P/E ratio of 13.60. Amalgamated Bank has a 52 week low of $13.25 and a 52 week high of $22.97.

Amalgamated Bank (NASDAQ:AMAL) last announced its quarterly earnings data on Tuesday, January 29th. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.06). The company had revenue of $47.76 million for the quarter, compared to analysts’ expectations of $47.82 million. As a group, research analysts anticipate that Amalgamated Bank will post 1.43 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 26th. Investors of record on Friday, February 15th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Thursday, February 14th. Amalgamated Bank’s payout ratio is currently 17.65%.

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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.

Featured Article: What are Institutional Investors?

Want to see what other hedge funds are holding AMAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amalgamated Bank (NASDAQ:AMAL).

Institutional Ownership by Quarter for Amalgamated Bank (NASDAQ:AMAL)

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