Raymond James Financial Initiates Coverage on Amalgamated Financial (NASDAQ:AMAL)

Equities research analysts at Raymond James Financial assumed coverage on shares of Amalgamated Financial (NASDAQ:AMAL) in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $55.00 price target on the stock. Raymond James Financial’s target price suggests a potential upside of 14.25% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on AMAL. Weiss Ratings upgraded shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods raised their target price on shares of Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Zacks Research upgraded shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Finally, Piper Sandler increased their price objective on shares of Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Amalgamated Financial Stock Up 1.7%

AMAL opened at $48.14 on Thursday. Amalgamated Financial has a 12 month low of $25.13 and a 12 month high of $51.59. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.64 and a quick ratio of 0.63. The stock has a market cap of $1.44 billion, a P/E ratio of 12.84 and a beta of 0.79. The stock’s 50 day moving average price is $48.27 and its 200 day moving average price is $43.41.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. Amalgamated Financial had a return on equity of 14.30% and a net margin of 23.34%.The firm had revenue of $96.10 million for the quarter, compared to the consensus estimate of $92.09 million. As a group, research analysts predict that Amalgamated Financial will post 4.06 earnings per share for the current year.

Insider Transactions at Amalgamated Financial

In other Amalgamated Financial news, CFO Jason Darby sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $43.30, for a total value of $129,900.00. Following the completion of the sale, the chief financial officer directly owned 79,343 shares of the company’s stock, valued at approximately $3,435,551.90. This represents a 3.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder States Regional Joint Western sold 44,244 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $48.19, for a total transaction of $2,132,118.36. Following the transaction, the insider owned 6,988,727 shares of the company’s stock, valued at approximately $336,786,754.13. This trade represents a 0.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 275,285 shares of company stock valued at $13,190,722 in the last quarter. 1.63% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC bought a new stake in shares of Amalgamated Financial during the 2nd quarter worth $6,459,000. Hsbc Holdings PLC purchased a new stake in shares of Amalgamated Financial during the second quarter valued at $2,259,000. Vanguard Group Inc. lifted its holdings in shares of Amalgamated Financial by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock valued at $45,943,000 after purchasing an additional 49,037 shares during the last quarter. Versor Investments LP acquired a new position in shares of Amalgamated Financial in the 4th quarter valued at $935,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Amalgamated Financial in the 2nd quarter worth about $1,298,000. Institutional investors and hedge funds own 75.93% of the company’s stock.

Key Amalgamated Financial News

Here are the key news stories impacting Amalgamated Financial this week:

• Positive Sentiment: Zacks upgraded AMAL to Rank #2 (Buy), citing improving earnings prospects. The upgrade could provide near-term support, especially after the company’s latest quarterly results exceeded expectations. What Makes Amalgamated Financial AMAL a New Buy Stock
• Positive Sentiment: Amalgamated Financial’s most recent reported quarter showed adjusted strength, with EPS of $1.10 versus the $1.00 consensus estimate and revenue of $96.1 million versus expectations of $92.09 million. Analysts expect approximately $4.06 in full-year EPS, while the company’s quarterly dividend implies a 1.4% yield.
• Neutral Sentiment: AMAL trades near $48, below its 52-week high of $51.59 but well above its 200-day moving average of $43.41. Its P/E ratio is approximately 12.8, and analysts’ average price target of $53.50 suggests additional potential upside, although the consensus rating is only “Moderate Buy.”
• Negative Sentiment: Major shareholders reported repeated selling between August 31 and September 2. United Workers and States Regional Joint Western disclosed sales at prices ranging from $47.28 to $48.19, reducing their reported holdings by roughly 1.9% across the transactions. The sales, totaling approximately $12.8 million based on the matching reported trades, may pressure sentiment because they represent significant holders reducing exposure near recent highs. SEC ownership filing SEC ownership filing

About Amalgamated Financial

Amalgamated Financial Corp. (NASDAQ: AMAL) is the bank holding company for Amalgamated Bank, a fully insured commercial bank with a historic mission of serving labor unions, progressive non-profits and mission-driven organizations. Founded in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has grown into a national institution offering a broad suite of banking services, including deposit accounts, commercial and consumer lending, cash management, and treasury solutions tailored to organizations with social responsibility or union affiliations.

In addition to core banking, Amalgamated Financial provides wealth management and trust services, retirement plan consulting and impact investing strategies.