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

Amalgamated Financial (NASDAQ:AMAL) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $31.50 to $32.50 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 26.95% from the stock’s current price.

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

Amalgamated Financial Price Performance

Shares of Amalgamated Financial stock traded down $0.02 during trading on Thursday, hitting $25.60. The stock had a trading volume of 12,448 shares, compared to its average volume of 131,991. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market cap of $781.31 million, a P/E ratio of 8.37 and a beta of 0.93. The business has a fifty day moving average of $24.87 and a two-hundred day moving average of $24.68. Amalgamated Financial has a fifty-two week low of $15.19 and a fifty-two week high of $27.77.

Amalgamated Financial (NASDAQ:AMAL) last posted its earnings results on Thursday, April 25th. The company reported $0.83 earnings per share for the quarter, topping 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 firm had revenue of $107.16 million during the quarter, compared to analyst estimates of $75.77 million. During the same period in the previous year, the company earned $0.74 EPS. On average, sell-side analysts expect that Amalgamated Financial will post 3.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Amalgamated Financial news, insider Edgar Romney, Jr. sold 8,269 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 13,856 shares in the company, valued at approximately $349,864. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Amalgamated Financial news, insider Edgar Romney, Jr. sold 8,269 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 13,856 shares in the company, valued at approximately $349,864. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sam D. Brown sold 8,994 shares of the company’s 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 sale, the executive vice president now owns 45,970 shares of the company’s stock, 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.

Institutional Trading of Amalgamated Financial

A number of large investors have recently made changes to their positions in AMAL. Parallel Advisors LLC boosted its stake in Amalgamated Financial by 50.5% in the 4th quarter. Parallel Advisors LLC now owns 1,633 shares of the company’s stock worth $44,000 after purchasing an additional 548 shares during the period. AJOVista LLC acquired a new position in Amalgamated Financial in the 4th quarter worth $94,000. Allspring Global Investments Holdings LLC acquired a new position in Amalgamated Financial in the 1st quarter worth $126,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Amalgamated Financial by 35.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,310 shares of the company’s stock worth $170,000 after buying an additional 1,665 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Amalgamated Financial by 20.2% during the 4th quarter. New York State Common Retirement Fund now owns 9,914 shares of the company’s stock worth $267,000 after buying an additional 1,667 shares during the last quarter. Institutional investors 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.