Amalgamated Financial Corp. (NASDAQ:AMAL – Get Free Report) EVP Sam Brown sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $48.42, for a total value of $1,452,600.00. Following the sale, the executive vice president owned 26,609 shares in the company, valued at $1,288,407.78. The trade was a 53.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Amalgamated Financial Stock Performance
Shares of AMAL traded up $0.69 during mid-day trading on Thursday, hitting $48.52. The stock had a trading volume of 175,748 shares, compared to its average volume of 164,856. The company has a market cap of $1.45 billion, a PE ratio of 12.94 and a beta of 0.79. The company’s fifty day simple moving average is $48.49 and its two-hundred day simple moving average is $43.69. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.08. Amalgamated Financial Corp. has a fifty-two week low of $25.13 and a fifty-two week high of $51.59.
Amalgamated Financial (NASDAQ:AMAL – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. The business had revenue of $96.10 million for the quarter, compared to analyst estimates of $92.09 million. Amalgamated Financial had a return on equity of 14.30% and a net margin of 23.34%. On average, equities analysts expect that Amalgamated Financial Corp. will post 4.06 earnings per share for the current year.
Amalgamated Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Tuesday, August 4th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 4th. Amalgamated Financial’s dividend payout ratio is 18.13%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of AMAL. Quadrant Capital Group LLC increased its stake in shares of Amalgamated Financial by 11.0% in the fourth quarter. Quadrant Capital Group LLC now owns 3,136 shares of the company’s stock valued at $100,000 after purchasing an additional 312 shares during the period. Intech Investment Management LLC boosted its position in shares of Amalgamated Financial by 3.4% during the third quarter. Intech Investment Management LLC now owns 11,628 shares of the company’s stock worth $316,000 after buying an additional 383 shares during the period. Osaic Holdings Inc. boosted its position in shares of Amalgamated Financial by 56.7% during the second quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock worth $34,000 after buying an additional 391 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Amalgamated Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock worth $306,000 after buying an additional 468 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Amalgamated Financial in the 2nd quarter worth approximately $30,000. 75.93% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Zacks Research raised shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Keefe, Bruyette & Woods raised their target price on shares of Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Raymond James Financial initiated coverage on Amalgamated Financial in a research note on Thursday, September 3rd. They issued an “outperform” rating and a $55.00 target price for the company. Weiss Ratings raised Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Finally, Piper Sandler increased their price target on Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.
Read Our Latest Stock Analysis on Amalgamated Financial
Amalgamated Financial Company Profile
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.
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