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

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) had its price target reduced by analysts at Keefe, Bruyette & Woods from $41.00 to $39.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 38.05% from the company's current price.

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

Amalgamated Financial Stock Performance

Amalgamated Financial stock traded up $0.29 during midday trading on Friday, hitting $28.25. The company's stock had a trading volume of 165,739 shares, compared to its average volume of 185,677. Amalgamated Financial has a 1-year low of $24.02 and a 1-year high of $38.19. 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 company has a 50-day moving average price of $28.83 and a two-hundred day moving average price of $32.76. The company has a market cap of $866.91 million, a price-to-earnings ratio of 8.19 and a beta of 0.75.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.88 earnings per share for the quarter, hitting the consensus estimate of $0.88. The business had revenue of $79.69 million during the quarter, compared to analysts' expectations of $74.78 million. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. During the same quarter in the previous year, the company earned $0.89 EPS. As a group, sell-side analysts predict that Amalgamated Financial will post 3.65 earnings per share for the current year.

Amalgamated Financial announced that its Board of Directors has authorized a share repurchase plan on Monday, March 10th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at Amalgamated Financial

In related news, major shareholder States Regional Joint Western sold 18,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $34.27, for a total transaction of $616,860.00. Following the sale, the insider now owns 7,167,816 shares of the company's stock, valued at $245,641,054.32. This trade represents a 0.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Tyrone Graham sold 869 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $29.73, for a total value of $25,835.37. Following the sale, the executive vice president now directly owns 10,580 shares in the company, valued at approximately $314,543.40. This trade represents a 7.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,656 shares of company stock valued at $1,054,122 in the last 90 days. 1.29% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in Amalgamated Financial during the 4th quarter worth $469,000. JPMorgan Chase & Co. raised its position in Amalgamated Financial by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company's stock worth $17,806,000 after purchasing an additional 89,444 shares during the last quarter. Tidal Investments LLC bought a new position in shares of Amalgamated Financial in the 3rd quarter worth about $496,000. Geode Capital Management LLC raised its position in shares of Amalgamated Financial by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 478,888 shares of the company's stock worth $15,026,000 after acquiring an additional 34,109 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Amalgamated Financial in the 4th quarter worth about $804,000. 75.93% of the stock is owned by institutional investors.

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.