Amalgamated Financial (NASDAQ:AMAL) Given Outperform Rating at Keefe, Bruyette & Woods

Amalgamated Financial (NASDAQ:AMAL)‘s stock had its “outperform” rating reissued by research analysts at Keefe, Bruyette & Woods in a research note issued to investors on Monday, Benzinga reports. They presently have a $35.00 price target on the stock, up from their previous price target of $30.00. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 8.46% from the company’s previous close.

AMAL has been the subject of several other reports. Piper Sandler reissued an “overweight” rating and set a $29.00 price target (up from $28.00) on shares of Amalgamated Financial in a report on Friday, April 26th. JPMorgan Chase & Co. increased their price target on shares of Amalgamated Financial from $31.50 to $32.50 and gave the stock an “overweight” rating in a report on Thursday, June 27th.

Amalgamated Financial Stock Performance

NASDAQ AMAL traded up $0.06 during trading hours on Monday, hitting $32.27. The company had a trading volume of 22,793 shares, compared to its average volume of 141,224. The business has a 50 day moving average of $26.79 and a 200-day moving average of $25.09. Amalgamated Financial has a 1-year low of $15.19 and a 1-year high of $32.79. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market cap of $985.01 million, a PE ratio of 10.56 and a beta of 0.94.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06. Amalgamated Financial had a net margin of 23.64% and a return on equity of 16.67%. The business had revenue of $108.22 million during the quarter, compared to analysts’ expectations of $77.33 million. During the same period in the prior year, the company earned $0.72 earnings per share. As a group, equities research analysts expect that Amalgamated Financial will post 3.21 EPS for the current year.

Insider Buying and Selling

In other news, CFO Jason Darby sold 4,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $27.02, for a total value of $108,080.00. Following the sale, the chief financial officer now directly owns 56,470 shares in the company, valued at $1,525,819.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Jason Darby sold 4,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $27.02, for a total value of $108,080.00. Following the sale, the chief financial officer now directly owns 56,470 shares in the company, valued at $1,525,819.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sam D. Brown sold 8,994 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 45,970 shares in the company, valued at $1,170,855.90. The disclosure for this sale can be found here. Insiders sold 21,263 shares of company stock valued at $545,949 over the last ninety days. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of Amalgamated Financial

A number of hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in Amalgamated Financial by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 158,643 shares of the company’s stock worth $4,347,000 after acquiring an additional 4,555 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Amalgamated Financial by 82.7% in the 2nd quarter. SG Americas Securities LLC now owns 12,578 shares of the company’s stock valued at $345,000 after purchasing an additional 5,692 shares during the last quarter. Clean Yield Group boosted its holdings in shares of Amalgamated Financial by 0.9% in the 2nd quarter. Clean Yield Group now owns 144,541 shares of the company’s stock valued at $3,960,000 after purchasing an additional 1,332 shares during the last quarter. CWM LLC boosted its holdings in shares of Amalgamated Financial by 679.7% in the 2nd quarter. CWM LLC now owns 1,380 shares of the company’s stock valued at $38,000 after purchasing an additional 1,203 shares during the last quarter. Finally, Boston Partners acquired a new position in shares of Amalgamated Financial in the 1st quarter valued at $825,000. Institutional investors and hedge funds 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.