Piper Sandler Initiates Coverage on Amalgamated Financial

Research firm issues neutral rating and $41 price target on the bank's stock.

Mar. 19, 2026 at 5:50am

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Piper Sandler has initiated coverage on shares of Amalgamated Financial (NASDAQ:AMAL), issuing a neutral rating and a $41.00 target price on the stock. This comes after Weiss Ratings recently upgraded Amalgamated Financial from a 'hold (c+)' rating to a 'buy (b-)' rating.

Why it matters

Amalgamated Financial is the bank holding company for Amalgamated Bank, which has a historic mission of serving labor unions, progressive non-profits, and mission-driven organizations. The bank's performance and analyst coverage are closely watched by its stakeholders in the social impact investing space.

The details

Piper Sandler started coverage on Amalgamated Financial with a neutral rating and a $41.00 price target. Separately, Weiss Ratings recently upgraded the stock from a 'hold (c+)' rating to a 'buy (b-)' rating. Overall, the stock has an average rating of 'Moderate Buy' and an average target price of $40.00, according to MarketBeat.

  • Piper Sandler initiated coverage on Amalgamated Financial on Monday, March 18, 2026.
  • Weiss Ratings upgraded Amalgamated Financial on Thursday, February 26, 2026.

The players

Amalgamated Financial

The bank holding company for Amalgamated Bank, which has a historic mission of serving labor unions, progressive non-profits, and mission-driven organizations.

Piper Sandler

A brokerage firm that initiated coverage on Amalgamated Financial with a neutral rating and $41 price target.

Weiss Ratings

A ratings agency that recently upgraded Amalgamated Financial from a 'hold (c+)' rating to a 'buy (b-)' rating.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee

The takeaway

This research coverage initiation by Piper Sandler and the recent rating upgrade by Weiss Ratings highlight the growing attention on Amalgamated Financial as a socially-conscious bank serving mission-driven organizations and stakeholders.