Amalgamated Financial (NASDAQ:AMAL) Upgraded by Zacks Research to Hold Rating

Amalgamated Financial (NASDAQ:AMAL) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Weiss Ratings upgraded Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Piper Sandler increased their price target on Amalgamated Financial from $44.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Amalgamated Financial presently has an average rating of “Hold” and a consensus price target of $48.00.

Amalgamated Financial Stock Performance

AMAL opened at $46.95 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average is $42.29 and its 200-day moving average is $38.95. The stock has a market cap of $1.40 billion, a PE ratio of 13.65 and a beta of 0.80. Amalgamated Financial has a twelve month low of $25.13 and a twelve month high of $47.17.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.15). Amalgamated Financial had a return on equity of 13.89% and a net margin of 22.33%.The business had revenue of $91.36 million during the quarter, compared to the consensus estimate of $91.16 million. On average, analysts predict that Amalgamated Financial will post 3.92 earnings per share for the current year.

Insider Buying and Selling at Amalgamated Financial

In other Amalgamated Financial news, EVP Sean Searby sold 748 shares of the company’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $40.02, for a total value of $29,934.96. Following the completion of the sale, the executive vice president directly owned 22,307 shares of the company’s stock, valued at approximately $892,726.14. This represents a 3.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Maryann Bruce sold 2,089 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $41.39, for a total transaction of $86,463.71. Following the transaction, the director owned 19,942 shares of the company’s stock, valued at approximately $825,399.38. This trade represents a 9.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,285 shares of company stock valued at $550,124 in the last ninety days. 1.63% of the stock is owned by insiders.

Institutional Trading of Amalgamated Financial

A number of large investors have recently added to or reduced their stakes in the business. Millennium Management LLC grew its position in Amalgamated Financial by 63.7% in the third quarter. Millennium Management LLC now owns 522,598 shares of the company’s stock worth $14,189,000 after buying an additional 203,440 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Amalgamated Financial by 78.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 295,670 shares of the company’s stock valued at $9,470,000 after buying an additional 129,585 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Amalgamated Financial by 14.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 953,859 shares of the company’s stock valued at $30,552,000 after buying an additional 120,483 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Amalgamated Financial by 616.8% during the 2nd quarter. First Trust Advisors LP now owns 132,681 shares of the company’s stock valued at $4,140,000 after acquiring an additional 114,171 shares during the last quarter. Finally, Credit Agricole S A acquired a new stake in shares of Amalgamated Financial during the 3rd quarter valued at $2,839,000. 75.93% of the stock is currently owned by 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.