Amalgamated Financial (NASDAQ:AMAL) Rating Lowered to “Neutral” at Piper Sandler

Amalgamated Financial (NASDAQ:AMAL) was downgraded by research analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research note issued on Friday, Marketbeat.com reports. They presently have a $38.00 target price on the stock, down from their previous target price of $42.00. Piper Sandler’s price objective indicates a potential upside of 16.73% from the company’s current price.

Separately, Keefe, Bruyette & Woods lifted their target price on Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

Amalgamated Financial Stock Down 7.7 %

Shares of NASDAQ AMAL opened at $32.56 on Friday. The business has a 50-day moving average of $34.60 and a two-hundred day moving average of $33.54. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63. Amalgamated Financial has a 1 year low of $21.33 and a 1 year high of $38.19. The company has a market capitalization of $998.46 million, a price-to-earnings ratio of 9.44 and a beta of 0.92.

Amalgamated Financial (NASDAQ:AMAL) last posted its earnings results on Thursday, January 23rd. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. On average, analysts forecast that Amalgamated Financial will post 3.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Amalgamated Financial

In other Amalgamated Financial news, major shareholder States Regional Joint Western sold 18,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $34.27, for a total transaction of $616,860.00. Following the completion of the sale, the insider now directly owns 7,167,816 shares of the company’s stock, valued at $245,641,054.32. This represents a 0.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maryann Bruce sold 4,403 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $33.77, for a total value of $148,689.31. Following the sale, the director now directly owns 18,319 shares of the company’s stock, valued at approximately $618,632.63. This represents a 19.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,730 shares of company stock valued at $811,052 in the last ninety days. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Amalgamated Financial

A number of large investors have recently modified their holdings of AMAL. USA Financial Formulas purchased a new position in shares of Amalgamated Financial during the 4th quarter worth approximately $34,000. R Squared Ltd purchased a new position in shares of Amalgamated Financial during the 4th quarter worth approximately $38,000. New York State Teachers Retirement System purchased a new position in shares of Amalgamated Financial during the 4th quarter worth approximately $55,000. US Bancorp DE raised 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 buying an additional 512 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Amalgamated Financial by 74.9% during the 3rd quarter. CWM LLC now owns 2,414 shares of the company’s stock worth $76,000 after buying an additional 1,034 shares in the last quarter. 75.93% of the stock is owned by hedge funds and other institutional investors.

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.