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

Amalgamated Financial (NASDAQ:AMAL) was downgraded by investment analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Friday,Finviz reports. They currently have a $38.00 target price on the stock, down from their prior target price of $42.00. Piper Sandler’s price objective indicates a potential upside of 7.71% from the stock’s current price.

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

Amalgamated Financial Price Performance

AMAL stock opened at $35.28 on Friday. The company has a market capitalization of $1.08 billion, a P/E ratio of 10.23 and a beta of 0.92. Amalgamated Financial has a twelve month low of $21.33 and a twelve month high of $38.19. The business has a 50 day simple moving average of $34.65 and a 200-day simple moving average of $33.47. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. As a group, equities analysts anticipate that Amalgamated Financial will post 3.65 EPS for the current year.

Insider Buying and Selling

In related news, Director Maryann Bruce sold 4,403 shares of Amalgamated Financial stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $33.77, for a total transaction of $148,689.31. Following the completion of the sale, the director now owns 18,319 shares in the company, valued at approximately $618,632.63. This trade represents a 19.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder States Regional Joint Western sold 1,327 shares of Amalgamated Financial stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $34.29, for a total value of $45,502.83. Following the sale, the insider now owns 7,121,506 shares of the company’s stock, valued at approximately $244,196,440.74. This represents a 0.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,730 shares of company stock valued at $811,052 over the last three months. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of Amalgamated Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. USA Financial Formulas acquired a new stake in Amalgamated Financial in the 4th quarter worth about $34,000. R Squared Ltd acquired a new stake in Amalgamated Financial in the 4th quarter worth about $38,000. New York State Teachers Retirement System acquired a new stake in Amalgamated Financial in the 4th quarter worth about $55,000. US Bancorp DE boosted its stake in Amalgamated Financial by 28.4% in 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 during the last quarter. Finally, CWM LLC boosted its stake in Amalgamated Financial by 74.9% in 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 during the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

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.