Amalgamated Financial (NASDAQ:AMAL) Now Covered by Piper Sandler

Investment analysts at Piper Sandler initiated coverage on shares of Amalgamated Financial (NASDAQ:AMAL) in a report released on Monday. The brokerage set a “neutral” rating and a $41.00 price target on the stock. Piper Sandler’s target price would suggest a potential upside of 7.04% from the company’s current price.

Separately, Weiss Ratings raised shares of Amalgamated Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Amalgamated Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Amalgamated Financial Trading Up 0.5%

NASDAQ AMAL traded up $0.20 on Monday, hitting $38.30. 15,378 shares of the stock were exchanged, compared to its average volume of 186,531. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.67 and a current ratio of 0.67. Amalgamated Financial has a 52-week low of $25.03 and a 52-week high of $42.65. The firm has a market capitalization of $1.14 billion, a P/E ratio of 11.23 and a beta of 0.81. The stock has a fifty day moving average price of $38.02 and a two-hundred day moving average price of $32.17.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, January 22nd. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.08. The business had revenue of $87.91 million for the quarter, compared to the consensus estimate of $85.37 million. Amalgamated Financial had a net margin of 23.05% and a return on equity of 14.60%. Research analysts forecast that Amalgamated Financial will post 3.65 EPS for the current fiscal year.

Insider Transactions at Amalgamated Financial

In related news, EVP Tyrone Graham sold 2,285 shares of the firm’s stock in a transaction dated 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 owned 13,443 shares of the company’s stock, valued at $536,510.13. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Sam D. Brown sold 5,151 shares of Amalgamated Financial stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $35.50, for a total transaction of $182,860.50. Following the sale, the executive vice president owned 53,232 shares of the company’s stock, valued at $1,889,736. The trade was a 8.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 7,937 shares of company stock worth $293,534. Company insiders own 1.29% of the company’s stock.

Institutional Trading of Amalgamated Financial

A number of large investors have recently modified their holdings of the company. Millennium Management LLC increased its holdings in Amalgamated Financial by 63.7% during the 3rd quarter. Millennium Management LLC now owns 522,598 shares of the company’s stock worth $14,189,000 after purchasing an additional 203,440 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Amalgamated Financial by 78.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 295,670 shares of the company’s stock worth $9,470,000 after buying an additional 129,585 shares during the period. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Amalgamated Financial by 14.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 953,859 shares of the company’s stock worth $30,552,000 after buying an additional 120,483 shares during the period. First Trust Advisors LP grew 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 worth $4,140,000 after buying an additional 114,171 shares in the last quarter. Finally, Credit Agricole S A purchased a new position in shares of Amalgamated Financial during the third quarter valued at $2,839,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.

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.