Amalgamated Financial (NASDAQ:AMAL) Earns Hold (C+) Rating from Weiss Ratings

Key Points

• Amalgamated Financial's stock has been rated as a "hold (C+)" by Weiss Ratings, while Piper Sandler downgraded the stock from "neutral" to "underweight" and reduced the price target from $34.00 to $27.00.
• The company reported $0.88 earnings per share for the previous quarter, missing the consensus estimate of $0.90, and had a total revenue of $82.18 million, slightly below the expected $82.52 million.
• Insiders own 1.29% of the company's shares, and recent transactions indicate notable declines in insider ownership, with EVP Sean Searby selling 3,512 shares, representing a 28.55% decrease in his position.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report)'s stock had its "hold (c+)" rating reissued by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Separately, Piper Sandler downgraded Amalgamated Financial from a "neutral" rating to an "underweight" rating and cut their price target for the company from $34.00 to $27.00 in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Amalgamated Financial presently has an average rating of "Hold" and an average price target of $33.00.

Amalgamated Financial Stock Performance

AMAL traded down $0.09 during midday trading on Wednesday, hitting $27.24. 109,461 shares of the company traded hands, compared to its average volume of 204,910. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $820.20 million, a PE ratio of 8.16 and a beta of 0.86. The company's 50-day moving average is $28.37 and its 200 day moving average is $29.38. Amalgamated Financial has a 52 week low of $25.03 and a 52 week high of $38.19.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.02). The company had revenue of $82.18 million for the quarter, compared to the consensus estimate of $82.52 million. Amalgamated Financial had a net margin of 23.60% and a return on equity of 15.21%. On average, research analysts expect that Amalgamated Financial will post 3.65 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Sean Searby sold 3,512 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $29.68, for a total transaction of $104,236.16. Following the sale, the executive vice president owned 8,791 shares in the company, valued at approximately $260,916.88. This represents a 28.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.29% of the company's stock.

Institutional Trading of Amalgamated Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Summit Securities Group LLC bought a new position in Amalgamated Financial in the 1st quarter valued at $26,000. Osaic Holdings Inc. boosted its position in Amalgamated Financial by 56.7% during the second quarter. Osaic Holdings Inc. now owns 1,080 shares of the company's stock valued at $34,000 after purchasing an additional 391 shares in the last quarter. Signaturefd LLC raised its stake in Amalgamated Financial by 110.1% in the second quarter. Signaturefd LLC now owns 1,523 shares of the company's stock valued at $48,000 after buying an additional 798 shares during the last quarter. Virtus Advisers LLC purchased a new stake in Amalgamated Financial in the first quarter valued at about $51,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Amalgamated Financial by 140.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company's stock worth $63,000 after purchasing an additional 1,177 shares during the last quarter. Hedge funds and other institutional investors 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.

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