Keefe, Bruyette & Woods Increases Amalgamated Financial (NASDAQ:AMAL) Price Target to $45.00

Amalgamated Financial (NASDAQ:AMAL) had its price target boosted by equities research analysts at Keefe, Bruyette & Woods from $41.00 to $45.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 25.38% from the stock’s previous close.

Separately, Piper Sandler raised their price objective on Amalgamated Financial from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday.

Amalgamated Financial Trading Down 0.1 %

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

Amalgamated Financial (NASDAQ:AMAL) last released its 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. The business had revenue of $111.76 million for the quarter, compared to analysts’ expectations of $79.50 million. Amalgamated Financial had a return on equity of 16.00% and a net margin of 24.19%. During the same quarter in the prior year, the firm earned $0.76 earnings per share. 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 44,577 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $29.97, for a total transaction of $1,335,972.69. Following the completion of the transaction, the insider now directly owns 384,980 shares of the company’s stock, valued at approximately $11,537,850.60. This represents a 10.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Sean Searby sold 8,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $34.14, for a total transaction of $273,120.00. Following the transaction, the executive vice president now directly owns 15,802 shares of the company’s stock, valued at approximately $539,480.28. This trade represents a 33.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 718,890 shares of company stock valued at $24,995,731 over the last three months. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amalgamated Financial

Institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. raised its stake in Amalgamated Financial by 17.4% in the second quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock worth $11,748,000 after buying an additional 63,561 shares in the last quarter. LSV Asset Management bought a new position in Amalgamated Financial in the second quarter worth about $1,378,000. Deerfield Management Company L.P. Series C bought a new position in shares of Amalgamated Financial during the second quarter valued at approximately $1,219,000. Harrington Investments INC increased its stake in shares of Amalgamated Financial by 1.0% during the second quarter. Harrington Investments INC now owns 75,900 shares of the company’s stock valued at $2,080,000 after purchasing an additional 760 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Amalgamated Financial during the third quarter valued at approximately $1,440,000. 75.93% of the stock is owned by 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.