Amalgamated Financial (NASDAQ:AMAL) PT Lowered to $30.00 at Keefe, Bruyette & Woods

Amalgamated Financial (NASDAQ:AMAL) had its price target cut by Keefe, Bruyette & Woods from $32.00 to $30.00 in a research note published on Friday, Benzinga reports. They currently have an outperform rating on the stock.

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

Amalgamated Financial Price Performance

NASDAQ:AMAL opened at $22.50 on Friday. Amalgamated Financial has a 52 week low of $14.05 and a 52 week high of $27.77. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $686.48 million, a P/E ratio of 7.87 and a beta of 0.94. The stock’s fifty day moving average is $23.93 and its two-hundred day moving average is $22.31.

Amalgamated Financial (NASDAQ:AMAL) last posted its earnings results on Thursday, January 25th. The company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Amalgamated Financial had a net margin of 22.71% and a return on equity of 16.60%. 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 prior year, the firm earned $0.83 EPS. Equities analysts expect that Amalgamated Financial will post 3.11 EPS for the current year.

Amalgamated Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 6th were issued a $0.10 dividend. The ex-dividend date was Monday, February 5th. This represents a $0.40 annualized dividend and a dividend yield of 1.78%. Amalgamated Financial’s dividend payout ratio is presently 13.99%.

Institutional Investors Weigh In On Amalgamated Financial

Institutional investors and hedge funds have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. raised its holdings in shares of Amalgamated Financial by 2.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,182,279 shares of the company’s stock valued at $37,579,000 after buying an additional 59,337 shares during the period. Schroder Investment Management Group increased its holdings in Amalgamated Financial by 26.5% during the 3rd quarter. Schroder Investment Management Group now owns 317,107 shares of the company’s stock worth $5,461,000 after purchasing an additional 66,420 shares during the period. Assenagon Asset Management S.A. increased its holdings in Amalgamated Financial by 30.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 129,127 shares of the company’s stock worth $3,479,000 after purchasing an additional 30,262 shares during the period. Brown Advisory Inc. increased its holdings in Amalgamated Financial by 3.9% during the 3rd quarter. Brown Advisory Inc. now owns 862,875 shares of the company’s stock worth $14,859,000 after purchasing an additional 32,733 shares during the period. Finally, Portside Wealth Group LLC purchased a new stake in Amalgamated Financial during the 2nd quarter worth about $319,000. Hedge funds and other institutional investors 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.