Amalgamated Financial (NASDAQ:AMAL – Get Free Report) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.
Other analysts have also recently issued research reports about the stock. Piper Sandler boosted their price target on shares of Amalgamated Financial from $44.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday. Weiss Ratings upgraded Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $48.00.
View Our Latest Stock Analysis on Amalgamated Financial
Amalgamated Financial Price Performance
Amalgamated Financial (NASDAQ:AMAL – Get Free Report) last issued its earnings results on Thursday, April 23rd. The company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.15). Amalgamated Financial had a return on equity of 13.89% and a net margin of 22.33%.The firm had revenue of $91.36 million during the quarter, compared to the consensus estimate of $91.16 million. As a group, research analysts anticipate 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 4,948 shares of Amalgamated Financial stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $39.42, for a total value of $195,050.16. Following the completion of the transaction, the executive vice president directly owned 23,055 shares of the company’s stock, valued at $908,828.10. This trade represents a 17.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Maryann Bruce sold 2,089 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $41.39, for a total transaction of $86,463.71. Following the completion of the sale, the director owned 19,942 shares in the company, valued at approximately $825,399.38. This trade represents a 9.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 13,285 shares of company stock valued at $550,124. Corporate insiders own 1.63% of the company’s stock.
Institutional Investors Weigh In On Amalgamated Financial
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Amalgamated Financial by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock worth $45,943,000 after purchasing an additional 49,037 shares during the period. Versor Investments LP bought a new stake in Amalgamated Financial in the fourth quarter worth $935,000. Abacus Wealth Partners LLC purchased a new position in Amalgamated Financial during the fourth quarter worth $2,100,000. American Century Companies Inc. increased its position in Amalgamated Financial by 6.7% during the third quarter. American Century Companies Inc. now owns 589,033 shares of the company’s stock valued at $15,992,000 after acquiring an additional 36,851 shares during the last quarter. Finally, Quent Capital LLC bought a new position in Amalgamated Financial during the fourth quarter valued at $659,000. 75.93% of the stock is currently owned by hedge funds and other institutional investors.
Amalgamated Financial Company Profile
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.
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