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

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

Separately, Keefe, Bruyette & Woods raised their target price 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 Stock Performance

NASDAQ AMAL opened at $35.28 on Friday. The firm 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 1-year low of $21.33 and a 1-year high of $38.19. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63. The business’s 50-day simple moving average is $34.65 and its 200-day simple moving average is $33.47.

Amalgamated Financial (NASDAQ:AMAL) last released 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%. Equities analysts predict that Amalgamated Financial will post 3.65 EPS for the current year.

Insiders Place Their Bets

In other Amalgamated Financial news, major shareholder States Regional Joint Western sold 18,000 shares of Amalgamated Financial stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $34.27, for a total transaction of $616,860.00. Following the sale, the insider now directly owns 7,167,816 shares in the company, valued at $245,641,054.32. The trade was a 0.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Maryann Bruce sold 4,403 shares of Amalgamated Financial stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $33.77, for a total value of $148,689.31. Following the sale, the director now owns 18,319 shares in the company, valued at $618,632.63. This represents a 19.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,730 shares of company stock worth $811,052 in the last three months. 0.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. USA Financial Formulas bought a new stake in shares of Amalgamated Financial in the 4th quarter worth $34,000. R Squared Ltd acquired a new position in Amalgamated Financial during the fourth quarter valued at $38,000. New York State Teachers Retirement System acquired a new position in Amalgamated Financial during the fourth quarter valued at $55,000. US Bancorp DE raised its position in Amalgamated Financial by 28.4% during the third quarter. US Bancorp DE now owns 2,312 shares of the company’s stock valued at $73,000 after buying an additional 512 shares during the period. Finally, CWM LLC grew its stake in Amalgamated Financial by 74.9% in the third quarter. CWM LLC now owns 2,414 shares of the company’s stock valued at $76,000 after purchasing an additional 1,034 shares in the last quarter. Institutional investors and hedge funds 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.