Ambac Financial Group (NASDAQ:AMBC) Hits New 1-Year High at $22.00

Ambac Financial Group, Inc. (NASDAQ:AMBC)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $22.00 and last traded at $21.94, with a volume of 883515 shares changing hands. The stock had previously closed at $21.83.

A number of brokerages have commented on AMBC. TheStreet raised Ambac Financial Group from a “d” rating to a “c-” rating in a report on Wednesday, December 11th. BidaskClub upgraded Ambac Financial Group from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th. BTIG Research restated a “buy” rating and issued a $26.00 price target on shares of Ambac Financial Group in a research report on Sunday, September 22nd. Finally, MKM Partners set a $20.00 price target on Ambac Financial Group and gave the company a “hold” rating in a research report on Wednesday, September 18th.

The firm has a 50-day moving average price of $21.32 and a 200 day moving average price of $19.56. The firm has a market capitalization of $988.52 million, a PE ratio of 6.11 and a beta of 1.05. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 4.49.

Ambac Financial Group (NASDAQ:AMBC) last announced its quarterly earnings data on Thursday, November 7th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.45. The business had revenue of $216.16 million for the quarter, compared to analysts’ expectations of $138.68 million. Ambac Financial Group had a positive return on equity of 10.17% and a negative net margin of 27.53%. The company’s revenue for the quarter was up 61.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.48) earnings per share.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in Ambac Financial Group by 0.4% in the second quarter. Wells Fargo & Company MN now owns 174,022 shares of the financial services provider’s stock valued at $2,932,000 after buying an additional 765 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Ambac Financial Group by 733.9% during the second quarter. Bank of Montreal Can now owns 4,303 shares of the financial services provider’s stock worth $73,000 after buying an additional 3,787 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Ambac Financial Group by 7.7% during the second quarter. Bank of New York Mellon Corp now owns 693,699 shares of the financial services provider’s stock worth $11,688,000 after buying an additional 49,318 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Ambac Financial Group by 1.4% during the second quarter. Northern Trust Corp now owns 599,852 shares of the financial services provider’s stock worth $10,107,000 after buying an additional 8,440 shares during the last quarter. Finally, Pinebridge Investments L.P. grew its holdings in shares of Ambac Financial Group by 8.2% during the second quarter. Pinebridge Investments L.P. now owns 66,588 shares of the financial services provider’s stock worth $1,122,000 after buying an additional 5,058 shares during the last quarter. Institutional investors and hedge funds own 79.09% of the company’s stock.

Ambac Financial Group Company Profile (NASDAQ:AMBC)

Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees to public and private sector clients in the United States, the United Kingdom, Italy, Austria, Australia, France, and Internationally. It offers financial guarantee insurance policies; and credit derivative contracts and Interest rate derivative transactions.

Further Reading: What does the Producer Price Index (PPI) tell investors?

Receive News & Ratings for Ambac Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ambac Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.