Piper Sandler Raises Amalgamated Financial (NASDAQ:AMAL) Price Target to $42.00

Amalgamated Financial (NASDAQ:AMAL) had its price target boosted by Piper Sandler from $39.00 to $42.00 in a report issued on Wednesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Amalgamated Financial Trading Up 2.1 %

NASDAQ:AMAL opened at $35.91 on Wednesday. Amalgamated Financial has a 12 month low of $21.33 and a 12 month high of $38.19. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 10.56 and a beta of 0.91. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $34.12 and its 200-day moving average is $30.55.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results 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. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. The business had revenue of $111.76 million for the quarter, compared to analyst estimates of $79.50 million. During the same quarter in the previous year, the firm posted $0.76 earnings per share. Equities analysts anticipate that Amalgamated Financial will post 3.46 EPS for the current year.

Amalgamated Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Tuesday, November 5th. Amalgamated Financial’s dividend payout ratio (DPR) is currently 14.12%.

Insider Buying and Selling

In other Amalgamated Financial news, major shareholder States Regional Joint Western sold 10,000 shares of Amalgamated Financial stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $35.21, for a total transaction of $352,100.00. Following the sale, the insider now owns 7,185,816 shares in the company, valued at $253,012,581.36. The trade was a 0.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder United Canada Council Workers sold 44,577 shares of Amalgamated Financial stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $29.97, for a total transaction of $1,335,972.69. Following the sale, the insider now owns 384,980 shares in the company, valued at $11,537,850.60. This represents a 10.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 718,890 shares of company stock valued at $24,995,731. 0.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amalgamated Financial

A number of institutional investors have recently bought and sold shares of the business. Tidal Investments LLC acquired a new stake in Amalgamated Financial during the third quarter worth $496,000. Geode Capital Management LLC boosted its stake in Amalgamated Financial by 7.7% during the third quarter. Geode Capital Management LLC now owns 478,888 shares of the company’s stock worth $15,026,000 after buying an additional 34,109 shares in the last quarter. Barclays PLC boosted its stake in Amalgamated Financial by 91.7% during the third quarter. Barclays PLC now owns 119,165 shares of the company’s stock worth $3,739,000 after buying an additional 57,008 shares in the last quarter. Jane Street Group LLC boosted its stake in Amalgamated Financial by 26.4% during the third quarter. Jane Street Group LLC now owns 29,977 shares of the company’s stock worth $940,000 after buying an additional 6,258 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Amalgamated Financial by 4.9% in the 3rd quarter. State Street Corp now owns 704,868 shares of the company’s stock valued at $22,112,000 after purchasing an additional 33,095 shares in the last quarter. Institutional investors and hedge funds 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.