JPMorgan Chase & Co. Increases Amalgamated Financial (NASDAQ:AMAL) Price Target to $32.50

Amalgamated Financial (NASDAQ:AMAL) had its target price increased by stock analysts at JPMorgan Chase & Co. from $31.50 to $32.50 in a report released on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 18.61% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods lowered their price target on shares of Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, April 5th. Piper Sandler reiterated an “overweight” rating and set a $29.00 price target (up from $28.00) on shares of Amalgamated Financial in a research note on Friday, April 26th.

Amalgamated Financial Trading Up 4.5 %

NASDAQ:AMAL opened at $27.40 on Thursday. Amalgamated Financial has a 12-month low of $15.19 and a 12-month high of $27.77. The firm has a market cap of $836.25 million, a PE ratio of 8.95 and a beta of 0.93. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.23. The stock has a fifty day moving average price of $25.06 and a 200 day moving average price of $24.72.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.11. Amalgamated Financial had a return on equity of 16.34% and a net margin of 23.22%. The business had revenue of $107.16 million during the quarter, compared to analysts’ expectations of $75.77 million. During the same quarter last year, the business posted $0.74 EPS. Sell-side analysts anticipate that Amalgamated Financial will post 3.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Amalgamated Financial

In other Amalgamated Financial news, insider Edgar Romney, Jr. sold 8,269 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $25.25, for a total value of $208,792.25. Following the completion of the transaction, the insider now directly owns 13,856 shares of the company’s stock, valued at $349,864. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Edgar Romney, Jr. sold 8,269 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $25.25, for a total transaction of $208,792.25. Following the sale, the insider now owns 13,856 shares in the company, valued at $349,864. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Sam D. Brown sold 8,994 shares of Amalgamated Financial stock in a transaction on Monday, May 6th. The shares were sold at an average price of $25.47, for a total transaction of $229,077.18. Following the completion of the transaction, the executive vice president now owns 45,970 shares in the company, valued at approximately $1,170,855.90. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amalgamated Financial

A number of institutional investors have recently added to or reduced their stakes in AMAL. Alps Advisors Inc. acquired a new position in Amalgamated Financial in the 3rd quarter worth $335,000. Adage Capital Partners GP L.L.C. raised its stake in shares of Amalgamated Financial by 2.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,182,279 shares of the company’s stock valued at $37,579,000 after purchasing an additional 59,337 shares in the last quarter. Schroder Investment Management Group grew its position in shares of Amalgamated Financial by 26.5% during the 3rd quarter. Schroder Investment Management Group now owns 317,107 shares of the company’s stock valued at $5,461,000 after buying an additional 66,420 shares during the last quarter. Redwood Grove Capital LLC bought a new stake in shares of Amalgamated Financial during the 3rd quarter valued at about $3,972,000. Finally, SG Americas Securities LLC grew its position in shares of Amalgamated Financial by 29.6% during the 4th quarter. SG Americas Securities LLC now owns 10,290 shares of the company’s stock valued at $277,000 after buying an additional 2,353 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Amalgamated Financial Company Profile

Amalgamated Financial Corp. operates as the bank holding company for Amalgamated Bank that provides commercial and retail banking, investment management, and trust and custody services for commercial and retail customers in the United States. The company accepts various deposit products, including non-interest bearing accounts, interest-bearing demand products, savings accounts, money market accounts, NOW accounts, and certificates of deposit.