Weiss Ratings Reiterates Hold (C) Rating for Amalgamated Financial (NASDAQ:AMAL)

Amalgamated Financial (NASDAQ:AMAL)‘s stock had its “hold (c)” rating restated by research analysts at Weiss Ratings in a research note issued to investors on Thursday,Weiss Ratings reports.

Separately, Piper Sandler cut shares of Amalgamated Financial from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $34.00 to $27.00 in a report on Tuesday, August 5th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Amalgamated Financial currently has an average rating of “Hold” and an average target price of $33.00.

Amalgamated Financial Trading Down 1.4%

Shares of Amalgamated Financial stock opened at $27.26 on Thursday. The company has a fifty day simple moving average of $27.79 and a 200-day simple moving average of $29.31. Amalgamated Financial has a 12-month low of $25.03 and a 12-month high of $38.19. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10. The stock has a market cap of $820.80 million, a price-to-earnings ratio of 8.21 and a beta of 0.86.

Amalgamated Financial (NASDAQ:AMAL) last issued its earnings results on Monday, December 19th. The company reported $0.46 earnings per share (EPS) for the quarter. Amalgamated Financial had a net margin of 22.97% and a return on equity of 14.97%. The business had revenue of $49.68 million during the quarter. On average, equities analysts forecast that Amalgamated Financial will post 3.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Sean Searby sold 3,512 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $29.68, for a total value of $104,236.16. Following the completion of the sale, the executive vice president owned 8,791 shares in the company, valued at $260,916.88. This represents a 28.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amalgamated Financial

Large investors have recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in Amalgamated Financial during the 1st quarter worth $26,000. State of Alaska Department of Revenue purchased a new position in Amalgamated Financial during the 3rd quarter worth $33,000. Osaic Holdings Inc. raised its position in Amalgamated Financial by 56.7% during the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock worth $34,000 after buying an additional 391 shares during the last quarter. Signaturefd LLC raised its position in Amalgamated Financial by 110.1% during the 2nd quarter. Signaturefd LLC now owns 1,523 shares of the company’s stock worth $48,000 after buying an additional 798 shares during the last quarter. Finally, Virtus Advisers LLC purchased a new position in Amalgamated Financial during the 1st quarter worth $51,000. Hedge funds and other 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.