TCW Group Inc. Buys New Holdings in Amalgamated Bank (AMAL)

TCW Group Inc. bought a new stake in Amalgamated Bank (NASDAQ:AMAL) during the third quarter, HoldingsChannel.com reports. The fund bought 110,000 shares of the company’s stock, valued at approximately $2,122,000.

Separately, Peregrine Capital Management LLC acquired a new position in Amalgamated Bank in the third quarter valued at $3,330,000. 0.56% of the stock is currently owned by institutional investors.

A number of research analysts recently weighed in on AMAL shares. Keefe, Bruyette & Woods started coverage on Amalgamated Bank in a report on Tuesday, September 4th. They issued a “market perform” rating and a $19.00 target price on the stock. JPMorgan Chase & Co. started coverage on Amalgamated Bank in a report on Tuesday, September 4th. They issued an “overweight” rating and a $21.00 target price on the stock. Piper Jaffray Companies started coverage on Amalgamated Bank in a report on Tuesday, September 4th. They issued a “neutral” rating and a $19.50 target price on the stock. Sandler O’Neill started coverage on Amalgamated Bank in a report on Tuesday, September 4th. They issued a “buy” rating and a $21.00 target price on the stock. Finally, Barclays started coverage on Amalgamated Bank in a report on Wednesday, September 5th. They issued an “overweight” rating and a $20.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Amalgamated Bank currently has a consensus rating of “Hold” and a consensus price target of $20.10.

Shares of Amalgamated Bank stock opened at $19.75 on Friday. Amalgamated Bank has a twelve month low of $13.25 and a twelve month high of $20.48.

Amalgamated Bank (NASDAQ:AMAL) last issued its earnings results on Monday, October 29th. The company reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.03. The firm had revenue of $47.59 million during the quarter, compared to analyst estimates of $46.44 million. Analysts anticipate that Amalgamated Bank will post 1.42 EPS for the current year.

Amalgamated Bank Profile

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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