Amalgamated Financial (NASDAQ:AMAL) Given New $42.00 Price Target at Piper Sandler

Amalgamated Financial (NASDAQ:AMAL) had its price target increased by Piper Sandler from $39.00 to $42.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 19.39% from the stock’s current price.

Amalgamated Financial Stock Performance

NASDAQ AMAL opened at $35.18 on Wednesday. The company has a market capitalization of $1.08 billion, a P/E ratio of 10.35 and a beta of 0.91. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63. Amalgamated Financial has a 52-week low of $21.33 and a 52-week high of $38.19. The company has a fifty day moving average of $34.02 and a 200-day moving average of $30.51.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. The firm had revenue of $111.76 million during the quarter, compared to analysts’ expectations of $79.50 million. Amalgamated Financial had a return on equity of 16.00% and a net margin of 24.19%. During the same period in the prior year, the business earned $0.76 EPS. As a group, equities research analysts predict that Amalgamated Financial will post 3.46 EPS for the current fiscal year.

Insider Activity

In other Amalgamated Financial news, CFO Jason Darby sold 4,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $36.59, for a total value of $146,360.00. Following the completion of the sale, the chief financial officer now directly owns 50,208 shares of the company’s stock, valued at $1,837,110.72. The trade was a 7.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder United Workers sold 31,844 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $35.77, for a total transaction of $1,139,059.88. Following the sale, the insider now owns 7,512,731 shares of the company’s stock, valued at approximately $268,730,387.87. The trade was a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 718,890 shares of company stock valued at $24,995,731. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Amalgamated Financial

A number of large investors have recently added to or reduced their stakes in AMAL. Rhumbline Advisers boosted its holdings in shares of Amalgamated Financial by 1.3% during the second quarter. Rhumbline Advisers now owns 29,996 shares of the company’s stock worth $822,000 after purchasing an additional 393 shares during the period. US Bancorp DE boosted 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 valued at $73,000 after purchasing an additional 512 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Amalgamated Financial by 12.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock valued at $126,000 after buying an additional 528 shares during the period. Panagora Asset Management Inc. raised its stake in Amalgamated Financial by 1.7% in the second quarter. Panagora Asset Management Inc. now owns 36,364 shares of the company’s stock worth $996,000 after buying an additional 616 shares in the last quarter. Finally, Quest Partners LLC lifted its holdings in Amalgamated Financial by 6.9% in the second quarter. Quest Partners LLC now owns 10,028 shares of the company’s stock worth $275,000 after buying an additional 646 shares during the period. 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.