Amalgamated Financial (NASDAQ:AMAL) PT Lowered to $29.50

Amalgamated Financial (NASDAQ:AMAL) had its price target reduced by investment analysts at JPMorgan Chase & Co. from $33.00 to $29.50 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 31.11% from the stock’s current price.

Amalgamated Financial Trading Down 0.7 %

Shares of AMAL stock opened at $22.50 on Thursday. The company has a 50-day moving average of $23.93 and a two-hundred day moving average of $22.31. 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 has a 1-year low of $14.05 and a 1-year high of $27.77. The firm has a market cap of $686.48 million, a PE ratio of 7.87 and a beta of 0.94.

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

Institutional Trading of Amalgamated Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its holdings in shares of Amalgamated Financial by 96.4% in 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 during the period. Parallel Advisors LLC increased its holdings 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 valued at $44,000 after acquiring an additional 548 shares during the period. Amalgamated Bank increased its holdings in shares of Amalgamated Financial by 31.6% in the 4th quarter. Amalgamated Bank now owns 2,322 shares of the company’s stock valued at $53,000 after acquiring an additional 557 shares during the period. Citigroup Inc. increased its holdings in shares of Amalgamated Financial by 174.4% in the 1st quarter. Citigroup Inc. now owns 3,501 shares of the company’s stock valued at $62,000 after acquiring an additional 2,225 shares during the period. Finally, AJOVista LLC acquired a new position in shares of Amalgamated Financial in the 4th quarter valued at $94,000. Institutional investors and hedge funds own 75.93% of the company’s stock.

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.