Amalgamated Financial (NASDAQ:AMAL) Given New $39.00 Price Target at Keefe, Bruyette & Woods

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) had its price target decreased by Keefe, Bruyette & Woods from $41.00 to $39.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 38.49% from the stock's previous close.

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

Amalgamated Financial Stock Down 2.1 %

Shares of NASDAQ AMAL traded down $0.60 during trading on Friday, hitting $28.16. The stock had a trading volume of 184,000 shares, compared to its average volume of 248,301. Amalgamated Financial has a 12 month low of $24.02 and a 12 month high of $38.19. The company has a market capitalization of $864.15 million, a PE ratio of 8.16 and a beta of 0.75. The firm has a fifty day moving average of $28.70 and a two-hundred day moving average of $32.74. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.88 EPS for the quarter, meeting analysts' consensus estimates of $0.88. The company had revenue of $79.69 million during the quarter, compared to the consensus estimate of $74.78 million. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. During the same period last year, the business posted $0.89 earnings per share. As a group, equities research analysts forecast that Amalgamated Financial will post 3.65 EPS for the current fiscal year.

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

Insider Transactions at Amalgamated Financial

In other news, EVP Sean Searby sold 3,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $32.49, for a total value of $97,470.00. Following the sale, the executive vice president now directly owns 17,639 shares of the company's stock, valued at approximately $573,091.11. This represents a 14.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Tyrone Graham sold 869 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $29.73, for a total transaction of $25,835.37. Following the completion of the transaction, the executive vice president now owns 10,580 shares of the company's stock, valued at $314,543.40. This trade represents a 7.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,253 shares of company stock valued at $905,433 over the last three months. Company insiders own 1.29% of the company's stock.

Institutional Trading of Amalgamated Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Alps Advisors Inc. increased its holdings in shares of Amalgamated Financial by 7.5% in the first quarter. Alps Advisors Inc. now owns 12,098 shares of the company's stock worth $348,000 after purchasing an additional 849 shares during the period. Principal Financial Group Inc. increased its stake in Amalgamated Financial by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 19,529 shares of the company's stock worth $561,000 after acquiring an additional 537 shares during the last quarter. KBC Group NV raised its holdings in shares of Amalgamated Financial by 5.6% in the 1st quarter. KBC Group NV now owns 140,573 shares of the company's stock valued at $4,041,000 after acquiring an additional 7,414 shares in the last quarter. Figure 8 Investment Strategies LLC boosted its position in shares of Amalgamated Financial by 2.8% during the 1st quarter. Figure 8 Investment Strategies LLC now owns 85,323 shares of the company's stock valued at $2,453,000 after acquiring an additional 2,317 shares during the last quarter. Finally, SummerHaven Investment Management LLC grew its holdings in shares of Amalgamated Financial by 1.5% during the first quarter. SummerHaven Investment Management LLC now owns 28,696 shares of the company's stock worth $825,000 after purchasing an additional 411 shares in the last quarter. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

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.