Amalgamated Financial (NASDAQ:AMAL) Stock Price Expected to Rise, Piper Sandler Analyst Says

Amalgamated Financial (NASDAQ:AMAL) had its price objective increased by stock analysts at Piper Sandler from $39.00 to $42.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 17.02% from the company’s current price.

Amalgamated Financial Trading Down 0.1 %

NASDAQ:AMAL opened at $35.89 on Wednesday. Amalgamated Financial has a one year low of $21.33 and a one year high of $38.19. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $1.10 billion, a P/E ratio of 10.56 and a beta of 0.91. The firm has a 50-day simple moving average of $34.22 and a 200-day simple moving average of $30.59.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.83 by $0.08. The business had revenue of $111.76 million during the quarter, compared to analyst estimates of $79.50 million. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. During the same quarter in the previous year, the business posted $0.76 EPS. Equities analysts anticipate that Amalgamated Financial will post 3.46 EPS for the current fiscal year.

Insider Buying and Selling at Amalgamated Financial

In other news, major shareholder United Canada Council Workers sold 82,464 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $31.05, for a total value of $2,560,507.20. Following the sale, the insider now directly owns 440,401 shares of the company’s stock, valued at $13,674,451.05. This represents a 15.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder States Regional Joint Western sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $35.21, for a total transaction of $352,100.00. Following the completion of the sale, the insider now directly owns 7,185,816 shares in the company, valued at $253,012,581.36. This trade represents a 0.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 718,890 shares of company stock worth $24,995,731. 0.90% of the stock is owned by corporate insiders.

Institutional Trading of Amalgamated Financial

A number of hedge funds have recently added to or reduced their stakes in the company. CWM LLC raised its position in Amalgamated Financial by 679.7% during the second 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 period. US Bancorp DE raised its position in Amalgamated Financial by 28.4% during the third 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 period. DekaBank Deutsche Girozentrale raised its position in Amalgamated Financial by 12.3% during the second 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 period. The Manufacturers Life Insurance Company acquired a new position in Amalgamated Financial during the third quarter worth $214,000. Finally, Quantbot Technologies LP raised its position in Amalgamated Financial by 9,898.7% during the third quarter. Quantbot Technologies LP now owns 7,599 shares of the company’s stock worth $238,000 after acquiring an additional 7,523 shares during the period. 75.93% of the stock is owned by hedge funds and other institutional investors.

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.