Amalgamated Financial (NASDAQ:AMAL) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Amalgamated Financial (NASDAQ:AMAL) had its price target hoisted by investment analysts at Keefe, Bruyette & Woods from $41.00 to $45.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 25.38% from the company’s previous close.

Separately, Piper Sandler increased their price target on shares of Amalgamated Financial from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday.

Amalgamated Financial Trading Down 0.1 %

NASDAQ:AMAL opened at $35.89 on Wednesday. The company’s 50 day moving average price is $34.22 and its 200-day moving average price is $30.59. Amalgamated Financial has a 52 week low of $21.33 and a 52 week high of $38.19. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 10.56 and a beta of 0.91.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. The firm had revenue of $111.76 million for the quarter, compared to analysts’ expectations of $79.50 million. During the same quarter in the prior year, the company posted $0.76 earnings per share. On average, equities research analysts forecast that Amalgamated Financial will post 3.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder United Canada Council Workers sold 82,464 shares of Amalgamated Financial stock in a transaction on Monday, September 9th. The shares were sold at an average price of $31.05, for a total transaction of $2,560,507.20. Following the transaction, the insider now owns 440,401 shares in the company, valued at $13,674,451.05. This trade represents a 15.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Regional Joint Board Rochester sold 55,875 shares of Amalgamated Financial stock in a transaction on Monday, October 28th. The stock was sold at an average price of $34.32, for a total transaction of $1,917,630.00. Following the transaction, the insider now owns 355,893 shares in the company, valued at $12,214,247.76. This represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 718,890 shares of company stock worth $24,995,731. 0.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC boosted its stake in shares of Amalgamated Financial by 679.7% during the 2nd quarter. CWM LLC now owns 1,380 shares of the company’s stock worth $38,000 after acquiring an additional 1,203 shares during the last quarter. US Bancorp DE boosted its stake in shares of Amalgamated Financial by 28.4% during the 3rd quarter. US Bancorp DE now owns 2,312 shares of the company’s stock worth $73,000 after acquiring an additional 512 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Amalgamated Financial by 12.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock worth $126,000 after acquiring an additional 528 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Amalgamated Financial during the 2nd quarter worth $213,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Amalgamated Financial during the 3rd quarter worth $214,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.

About Amalgamated Financial

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.