Piper Sandler Keeps Their Buy Rating on Amalgamated Bank (AMAL)

Piper Sandler analyst Alexander Twerdahl maintained a Buy rating on Amalgamated Bank (AMAL – Research Report) today and set a price target of $29.00. The company’s shares closed yesterday at $23.89.

Twerdahl covers the Financial sector, focusing on stocks such as Financial Institutions, Premier Financial, and First Financial Bancorp. According to TipRanks, Twerdahl has an average return of 10.5% and a 60.29% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Amalgamated Bank with a $29.50 average price target, representing a 23.48% upside. In a report released yesterday, KBW also maintained a Buy rating on the stock with a $30.00 price target.

Based on Amalgamated Bank’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $70.51 million and a net profit of $22.31 million. In comparison, last year the company earned a revenue of $72.63 million and had a net profit of $22.94 million

Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AMAL in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Amalgamated Bank (AMAL) Company Description:

Amalgamated Bank provides commercial banking services. The firm offers checking, savings, certificates of deposit, money market, and individual retirement accounts, home equity lines of credit options, mortgages, personal loans and lines of credit options. The company was founded in 1923 and is headquartered in New York, NY.