Amalgamated Financial (NASDAQ:AMAL) Earns Neutral Rating from Analysts at Piper Sandler

Analysts at Piper Sandler began coverage on shares of Amalgamated Financial (NASDAQ:AMAL) in a research note issued to investors on Monday. The firm set a “neutral” rating and a $41.00 price target on the stock. Piper Sandler’s price objective would indicate a potential upside of 7.04% from the stock’s current price.

Separately, Weiss Ratings upgraded Amalgamated Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Amalgamated Financial Stock Up 0.5%

Shares of NASDAQ:AMAL traded up $0.20 during trading hours on Monday, hitting $38.30. The company’s stock had a trading volume of 15,378 shares, compared to its average volume of 186,531. The firm’s fifty day moving average price is $38.02 and its 200 day moving average price is $32.17. Amalgamated Financial has a 52 week low of $25.03 and a 52 week high of $42.65. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 11.23 and a beta of 0.81. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.67 and a quick ratio of 0.67.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings data on Thursday, January 22nd. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.08. Amalgamated Financial had a net margin of 23.05% and a return on equity of 14.60%. The firm had revenue of $87.91 million for the quarter, compared to the consensus estimate of $85.37 million. As a group, research analysts expect that Amalgamated Financial will post 3.65 EPS for the current year.

Insider Buying and Selling at Amalgamated Financial

In other Amalgamated Financial news, EVP Tyrone Graham sold 2,285 shares of Amalgamated Financial stock in a transaction on Friday, February 20th. The shares were sold at an average price of $39.91, for a total value of $91,194.35. Following the transaction, the executive vice president directly owned 13,443 shares of the company’s stock, valued at approximately $536,510.13. The trade was a 14.53% decrease in their ownership of the stock. 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 5,151 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $35.50, for a total value of $182,860.50. Following the transaction, the executive vice president directly owned 53,232 shares in the company, valued at approximately $1,889,736. The trade was a 8.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,937 shares of company stock worth $293,534 over the last ninety days. Corporate insiders own 1.29% of the company’s stock.

Institutional Investors Weigh In On Amalgamated Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMAL. Hsbc Holdings PLC boosted its holdings in Amalgamated Financial by 123.8% in the fourth quarter. Hsbc Holdings PLC now owns 52,596 shares of the company’s stock worth $1,685,000 after acquiring an additional 29,090 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Amalgamated Financial by 3.1% during the fourth quarter. Invesco Ltd. now owns 41,687 shares of the company’s stock valued at $1,335,000 after acquiring an additional 1,256 shares in the last quarter. Empowered Funds LLC raised its position in shares of Amalgamated Financial by 9.3% in the 4th quarter. Empowered Funds LLC now owns 126,644 shares of the company’s stock valued at $4,056,000 after purchasing an additional 10,759 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of Amalgamated Financial in the 4th quarter valued at approximately $209,000. Finally, First Manhattan CO. LLC. boosted its stake in Amalgamated Financial by 2.3% in the 4th quarter. First Manhattan CO. LLC. now owns 407,025 shares of the company’s stock worth $13,037,000 after purchasing an additional 9,340 shares in the last quarter. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

About Amalgamated Financial

Amalgamated Financial Corp. (NASDAQ: AMAL) is the bank holding company for Amalgamated Bank, a fully insured commercial bank with a historic mission of serving labor unions, progressive non-profits and mission-driven organizations. Founded in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has grown into a national institution offering a broad suite of banking services, including deposit accounts, commercial and consumer lending, cash management, and treasury solutions tailored to organizations with social responsibility or union affiliations.

In addition to core banking, Amalgamated Financial provides wealth management and trust services, retirement plan consulting and impact investing strategies.