Amalgamated Bank (AMAL) Shares Bought by Penn Capital Management Co. Inc.

Penn Capital Management Co. Inc. boosted its stake in Amalgamated Bank (NASDAQ:AMAL) by 7.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,033 shares of the company’s stock after buying an additional 4,131 shares during the quarter. Penn Capital Management Co. Inc. owned approximately 0.18% of Amalgamated Bank worth $1,132,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of AMAL. Legal & General Group Plc acquired a new stake in shares of Amalgamated Bank in the third quarter valued at approximately $28,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of Amalgamated Bank during the fourth quarter valued at approximately $86,000. MetLife Investment Advisors LLC acquired a new position in shares of Amalgamated Bank during the fourth quarter valued at approximately $117,000. American International Group Inc. acquired a new position in shares of Amalgamated Bank during the third quarter valued at approximately $126,000. Finally, Bank of America Corp DE increased its stake in shares of Amalgamated Bank by 269.4% during the fourth quarter. Bank of America Corp DE now owns 7,437 shares of the company’s stock valued at $144,000 after acquiring an additional 5,424 shares during the period. 40.36% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on AMAL. Zacks Investment Research upgraded shares of Amalgamated Bank from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. ValuEngine cut shares of Amalgamated Bank from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Finally, Raymond James set a $19.00 target price on shares of Amalgamated Bank and gave the stock a “buy” rating in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $20.21.

Shares of NASDAQ:AMAL traded down $0.16 during trading on Friday, reaching $15.70. 53,296 shares of the company traded hands, compared to its average volume of 53,483. The firm has a market capitalization of $498.80 million and a P/E ratio of 11.54. Amalgamated Bank has a 1-year low of $13.25 and a 1-year high of $22.97.

Amalgamated Bank (NASDAQ:AMAL) last released its quarterly earnings results on Tuesday, January 29th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.06). The firm had revenue of $47.76 million for the quarter, compared to analyst estimates of $47.82 million. Sell-side analysts expect that Amalgamated Bank will post 1.42 earnings per share for the current year.

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

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