Amalgamated Bank (NASDAQ:AMAL) – Analysts at Piper Jaffray Companies lowered their FY2018 earnings estimates for Amalgamated Bank in a report released on Tuesday, October 30th. Piper Jaffray Companies analyst M. Breese now expects that the company will earn $1.43 per share for the year, down from their prior forecast of $1.47. Piper Jaffray Companies currently has a “Neutral” rating and a $19.50 target price on the stock. Piper Jaffray Companies also issued estimates for Amalgamated Bank’s Q4 2018 earnings at $0.37 EPS, Q1 2019 earnings at $0.35 EPS, Q2 2019 earnings at $0.37 EPS and FY2019 earnings at $1.54 EPS.
A number of other equities research analysts have also weighed in on the company. Raymond James assumed coverage on Amalgamated Bank in a research note on Friday, September 7th. They issued an “outperform” rating for the company. Barclays started coverage on Amalgamated Bank in a research note on Wednesday, September 5th. They issued an “overweight” rating and a $20.00 target price for the company. Sandler O’Neill started coverage on Amalgamated Bank in a research report on Tuesday, September 4th. They set a “buy” rating and a $21.00 price target for the company. JPMorgan Chase & Co. started coverage on Amalgamated Bank in a research report on Tuesday, September 4th. They set an “overweight” rating and a $21.00 price target for the company. Finally, Keefe, Bruyette & Woods started coverage on Amalgamated Bank in a research report on Tuesday, September 4th. They set a “market perform” rating and a $19.00 price target for the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $20.10.
NASDAQ AMAL opened at $19.40 on Thursday. Amalgamated Bank has a 1-year low of $13.25 and a 1-year high of $20.48.
Amalgamated Bank (NASDAQ:AMAL) last released its earnings results on Monday, October 29th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. The company had revenue of $47.59 million during the quarter, compared to the consensus estimate of $46.44 million.
A hedge fund recently bought a new stake in Amalgamated Bank stock. TCW Group Inc. purchased a new stake in shares of Amalgamated Bank (NASDAQ:AMAL) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 110,000 shares of the company’s stock, valued at approximately $2,122,000. TCW Group Inc. owned about 0.35% of Amalgamated Bank at the end of the most recent reporting period. 0.56% of the stock is owned by hedge funds and other institutional investors.
About Amalgamated Bank
Amalgamated Bank provides personal and commercial banking products and services to working families, unions, commercial real estate industries, healthcare markets, institutional investors, law firms, non-profits, and political organizations in the United States. The company offers checking, savings, certificates of deposit, money market, and individual retirement accounts; home equity lines of credit options, mortgages, and personal loans and lines of credit options; and commercial loans (lines of credit, letters of credit, and term loans).
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