5 Best Performing Bank Stocks in 2022

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In this article, we discuss 5 best performing bank stocks in 2022. If you want to see more stocks in this selection, check out 12 Best Performing Bank Stocks in 2022

5. Amalgamated Financial Corp. (NASDAQ:AMAL)

Number of Hedge Fund Holders: 10

YTD Share Price Gain as of December 28: 38.89%

Amalgamated Financial Corp. (NASDAQ:AMAL) is a New York-based 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. On October 27, Amalgamated Financial Corp. (NASDAQ:AMAL) reported Q3 GAAP earnings per share of $0.74 and a revenue of $72.63 million, outperforming Wall Street estimates by $0.05 and $5.48 million, respectively. Revenue over the period jumped 45% on a year-over-year basis. It is one of the best performing bank stocks in 2022. 

On December 20, Piper Sandler analyst Alexander Twerdahl maintained an Overweight rating on Amalgamated Financial Corp. (NASDAQ:AMAL) but lowered the firm’s price target on the shares to $28 from $29 after the company released an updated investor presentation disclosing an early look at trends so far in Q4 2022.

According to Insider Monkey’s data, 10 hedge funds were long Amalgamated Financial Corp. (NASDAQ:AMAL) at the end of September 2022, compared to 9 funds in the last quarter. Phill Gross and Robert Atchinson’s Adage Capital Management is the biggest stakeholder of the company, with 1.6 million shares worth $36.5 million. 

Follow Amalgamated Financial Corp.

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