Keefe, Bruyette & Woods Has Lowered Expectations for Amalgamated Financial (NASDAQ:AMAL) Stock Price

Amalgamated Financial (NASDAQ:AMAL) had its target price dropped by analysts at Keefe, Bruyette & Woods from $41.00 to $39.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 39.48% from the company’s current price.

Separately, Piper Sandler lowered shares of Amalgamated Financial from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $42.00 to $38.00 in a report on Friday, February 21st.

Amalgamated Financial Trading Up 0.9 %

Shares of AMAL opened at $27.96 on Friday. Amalgamated Financial has a 12 month low of $24.02 and a 12 month high of $38.19. The stock’s 50-day moving average is $28.99 and its two-hundred day moving average is $32.79. 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 stock has a market cap of $858.01 million, a PE ratio of 8.10 and a beta of 0.75.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings results on Thursday, April 24th. The company reported $0.88 EPS for the quarter, hitting the consensus estimate of $0.88. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. The firm had revenue of $79.69 million for the quarter, compared to analyst estimates of $74.78 million. During the same period in the previous year, the company posted $0.89 EPS. Equities analysts forecast that Amalgamated Financial will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial announced that its board has authorized a share repurchase program on Monday, March 10th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the company to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Tyrone Graham sold 3,317 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $30.50, for a total value of $101,168.50. Following the completion of the sale, the executive vice president now directly owns 11,449 shares of the company’s stock, valued at $349,194.50. The trade was a 22.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Maryann Bruce sold 4,403 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were 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. The trade was a 19.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,656 shares of company stock worth $1,054,122. Insiders own 1.29% of the company’s stock.

Institutional Trading of Amalgamated Financial

A number of institutional investors and hedge funds have recently modified their holdings of AMAL. USA Financial Formulas bought a new position in Amalgamated Financial in the fourth quarter worth about $34,000. R Squared Ltd bought a new stake in shares of Amalgamated Financial in the 4th quarter worth approximately $38,000. Park Square Financial Group LLC acquired a new position in Amalgamated Financial during the 4th quarter valued at approximately $41,000. New York State Teachers Retirement System acquired a new position in Amalgamated Financial during the 4th quarter valued at approximately $55,000. Finally, KLP Kapitalforvaltning AS bought a new position in Amalgamated Financial during the 4th quarter worth $90,000. 75.93% of the stock is owned by institutional investors and hedge funds.

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.