BlackRock Inc. lifted its holdings in shares of Amalgamated Bank (NASDAQ:AMAL) by 12.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 751,848 shares of the company’s stock after buying an additional 84,201 shares during the quarter. BlackRock Inc. owned about 2.37% of Amalgamated Bank worth $14,662,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. TIAA CREF Investment Management LLC bought a new position in shares of Amalgamated Bank in the 3rd quarter worth $303,000. Reynders McVeigh Capital Management LLC bought a new position in shares of Amalgamated Bank in the 3rd quarter worth $1,092,000. Peregrine Capital Management LLC increased its holdings in shares of Amalgamated Bank by 181.3% in the 4th quarter. Peregrine Capital Management LLC now owns 485,613 shares of the company’s stock worth $9,469,000 after buying an additional 312,971 shares during the last quarter. Vanguard Group Inc purchased a new stake in shares of Amalgamated Bank in the 3rd quarter valued at $17,645,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Amalgamated Bank in the 4th quarter valued at $4,544,000. 40.14% of the stock is currently owned by institutional investors and hedge funds.
Shares of Amalgamated Bank stock traded up $0.35 during trading on Friday, hitting $18.14. The company’s stock had a trading volume of 23,983 shares, compared to its average volume of 48,024. The firm has a market cap of $576.33 million and a price-to-earnings ratio of 13.34. Amalgamated Bank has a 52 week low of $13.25 and a 52 week high of $22.97.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Thursday, May 16th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Wednesday, May 15th. Amalgamated Bank’s payout ratio is 17.65%.
Several equities research analysts have weighed in on AMAL shares. 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 cut shares of Amalgamated Bank from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Finally, Raymond James set a $19.00 price target on shares of Amalgamated Bank and gave the company a “buy” rating in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Amalgamated Bank has a consensus rating of “Hold” and an average target price of $20.21.
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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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