BMO Capital Markets Raises AssetMark Financial (NYSE:AMK) Price Target to $25.00

AssetMark Financial (NYSE:AMK) had its price objective increased by stock analysts at BMO Capital Markets from $24.00 to $25.00 in a note issued to investors on Thursday, Stock Target Advisor reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price target indicates a potential downside of 0.24% from the stock’s previous close.

AMK has been the subject of several other reports. Raymond James assumed coverage on AssetMark Financial in a research report on Monday, August 12th. They set an “outperform” rating and a $31.00 price target for the company. Goldman Sachs Group assumed coverage on AssetMark Financial in a research report on Monday, August 12th. They set a “buy” rating and a $31.00 price target for the company. JPMorgan Chase & Co. assumed coverage on AssetMark Financial in a research report on Monday, August 12th. They set a “neutral” rating and a $29.00 price target for the company. Finally, William Blair assumed coverage on AssetMark Financial in a research report on Monday, August 12th. They set a “market perform” rating for the company. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. AssetMark Financial has an average rating of “Hold” and a consensus price target of $29.00.

Shares of AMK stock traded down $0.32 during trading hours on Thursday, hitting $25.06. 112,100 shares of the company’s stock were exchanged, compared to its average volume of 219,850. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.56 and a quick ratio of 2.56. AssetMark Financial has a fifty-two week low of $22.87 and a fifty-two week high of $29.37. The business’s 50 day moving average price is $26.34.

AssetMark Financial (NYSE:AMK) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.17 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17. The firm had revenue of $104.48 million for the quarter, compared to analysts’ expectations of $102.80 million. Analysts anticipate that AssetMark Financial will post 0.58 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. State of Tennessee Treasury Department purchased a new stake in shares of AssetMark Financial during the third quarter worth approximately $208,000. Rhumbline Advisers purchased a new stake in shares of AssetMark Financial during the third quarter worth approximately $372,000. Dean Capital Investments Management LLC purchased a new stake in AssetMark Financial in the 3rd quarter valued at $578,000. Finally, Russell Investments Group Ltd. purchased a new stake in AssetMark Financial in the 3rd quarter valued at $795,000. Hedge funds and other institutional investors own 0.08% of the company’s stock.

About AssetMark Financial

AssetMark Financial Holdings, Inc provides wealth management and technology solutions in the United States. The company offers an open-architecture product platform, as well as client advice, asset allocation options, practice management, support services, and technology to the financial adviser channel.

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