Amalgamated Financial (NASDAQ:AMAL) Price Target Cut to $30.00 by Analysts at Keefe, Bruyette & Woods

Amalgamated Financial (NASDAQ:AMAL) had its price objective reduced by equities research analysts at Keefe, Bruyette & Woods from $32.00 to $30.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 33.16% from the company’s previous close.

Separately, JPMorgan Chase & Co. reduced their price target on Amalgamated Financial from $33.00 to $29.50 and set an “overweight” rating on the stock in a report on Thursday.

Amalgamated Financial Trading Down 0.6 %

Shares of NASDAQ:AMAL traded down $0.14 during trading on Friday, hitting $22.53. The company had a trading volume of 9,407 shares, compared to its average volume of 153,741. The stock has a market cap of $687.39 million, a price-to-earnings ratio of 7.88 and a beta of 0.94. Amalgamated Financial has a one year low of $14.05 and a one year high of $27.77. The company has a fifty day simple moving average of $24.01 and a two-hundred day simple moving average of $22.28. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.65 and a quick ratio of 0.65.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, January 25th. The company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). Amalgamated Financial had a return on equity of 16.60% and a net margin of 22.71%. The business had revenue of $105.39 million during the quarter, compared to analysts’ expectations of $71.59 million. During the same quarter in the previous year, the company posted $0.83 earnings per share. As a group, equities analysts forecast that Amalgamated Financial will post 3.11 earnings per share for the current year.

Institutional Trading of Amalgamated Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its position in Amalgamated Financial by 96.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,100 shares of the company’s stock valued at $25,000 after acquiring an additional 540 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Amalgamated Financial by 50.5% in the 4th quarter. Parallel Advisors LLC now owns 1,633 shares of the company’s stock worth $44,000 after purchasing an additional 548 shares in the last quarter. Amalgamated Bank boosted its position in shares of Amalgamated Financial by 31.6% in the 4th quarter. Amalgamated Bank now owns 2,322 shares of the company’s stock worth $53,000 after purchasing an additional 557 shares in the last quarter. AJOVista LLC acquired a new stake in shares of Amalgamated Financial in the 4th quarter worth $94,000. Finally, Citigroup Inc. lifted its position in Amalgamated Financial by 174.4% during the 1st quarter. Citigroup Inc. now owns 3,501 shares of the company’s stock worth $62,000 after acquiring an additional 2,225 shares during the period. Institutional investors own 75.93% of the company’s stock.

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.