Amalgamated Financial (NASDAQ:AMAL) Sets New 12-Month High – Here’s What Happened

Amalgamated Financial Corp. (NASDAQ:AMAL)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $47.17 and last traded at $46.53, with a volume of 735821 shares. The stock had previously closed at $46.95.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Piper Sandler lifted their target price on Amalgamated Financial from $44.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday. Weiss Ratings upgraded Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Finally, Zacks Research raised Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $48.00.

Amalgamated Financial Stock Down 1.6%

The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.09. The company has a 50 day simple moving average of $42.43 and a two-hundred day simple moving average of $39.21. The firm has a market capitalization of $1.37 billion, a P/E ratio of 13.34 and a beta of 0.80.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.15). Amalgamated Financial had a net margin of 22.33% and a return on equity of 13.89%. The company had revenue of $91.36 million for the quarter, compared to the consensus estimate of $91.16 million. On average, equities analysts predict that Amalgamated Financial Corp. will post 3.92 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Tuesday, May 5th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, May 5th. Amalgamated Financial’s payout ratio is currently 19.77%.

Insider Activity at Amalgamated Financial

In other news, Director Maryann Bruce sold 2,089 shares of Amalgamated Financial stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $41.39, for a total value of $86,463.71. Following the sale, the director directly owned 19,942 shares of the company’s stock, valued at approximately $825,399.38. The trade was a 9.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jason Darby sold 3,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $43.30, for a total value of $129,900.00. Following the completion of the sale, the chief financial officer owned 79,343 shares in the company, valued at $3,435,551.90. This represents a 3.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,337 shares of company stock worth $355,074 in the last quarter. 1.63% of the stock is owned by company insiders.

Institutional Trading of Amalgamated Financial

Large investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its holdings in shares of Amalgamated Financial by 56.7% in the second quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock valued at $34,000 after purchasing an additional 391 shares in the last quarter. Arax Advisory Partners raised its stake in Amalgamated Financial by 187.1% during the fourth quarter. Arax Advisory Partners now owns 1,269 shares of the company’s stock valued at $41,000 after purchasing an additional 827 shares in the last quarter. Royal Bank of Canada lifted its position in Amalgamated Financial by 143.8% during the first quarter. Royal Bank of Canada now owns 1,485 shares of the company’s stock valued at $57,000 after purchasing an additional 876 shares during the last quarter. CWM LLC lifted its position in Amalgamated Financial by 41.2% during the fourth quarter. CWM LLC now owns 1,880 shares of the company’s stock valued at $60,000 after purchasing an additional 549 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Amalgamated Financial by 140.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company’s stock worth $63,000 after buying an additional 1,177 shares in the last quarter. Institutional investors own 75.93% of the company’s stock.

About Amalgamated Financial

Amalgamated Financial Corp. (NASDAQ: AMAL) is the bank holding company for Amalgamated Bank, a fully insured commercial bank with a historic mission of serving labor unions, progressive non-profits and mission-driven organizations. Founded in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has grown into a national institution offering a broad suite of banking services, including deposit accounts, commercial and consumer lending, cash management, and treasury solutions tailored to organizations with social responsibility or union affiliations.

In addition to core banking, Amalgamated Financial provides wealth management and trust services, retirement plan consulting and impact investing strategies.