Amalgamated Financial (NASDAQ:AMAL) Hits New 1-Year High – What’s Next?

Shares of Amalgamated Financial Corp. (NASDAQ:AMAL) hit a new 52-week high on Monday . The company 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 Upgrades and Downgrades

Several equities analysts have issued reports on AMAL shares. Zacks Research raised Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research note on Thursday. Weiss Ratings upgraded Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Finally, Piper Sandler lifted their price target on shares of Amalgamated Financial from $44.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Amalgamated Financial currently has an average rating of “Hold” and a consensus price target of $48.00.

Amalgamated Financial Price Performance

The company has a market capitalization of $1.38 billion, a P/E ratio of 13.46 and a beta of 0.80. The business’s 50-day moving average is $42.29 and its two-hundred day moving average is $39.01. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.09.

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

Amalgamated Financial Announces Dividend

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

Insiders Place Their Bets

In related news, Director Maryann Bruce sold 2,089 shares of Amalgamated Financial stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $41.39, for a total transaction of $86,463.71. Following the sale, the director directly owned 19,942 shares in the company, valued at approximately $825,399.38. This trade represents a 9.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sean Searby sold 748 shares of the business’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $40.02, for a total value of $29,934.96. Following the completion of the transaction, the executive vice president directly owned 22,307 shares in the company, valued at approximately $892,726.14. This represents a 3.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 13,285 shares of company stock valued at $550,124. Insiders own 1.63% of the company’s stock.

Hedge Funds Weigh In On Amalgamated Financial

Institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. increased its holdings in 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 last quarter. Arax Advisory Partners boosted its stake in Amalgamated Financial by 187.1% in the fourth quarter. Arax Advisory Partners now owns 1,269 shares of the company’s stock valued at $41,000 after acquiring an additional 827 shares during the last quarter. Royal Bank of Canada boosted its stake in Amalgamated Financial by 143.8% in the first quarter. Royal Bank of Canada now owns 1,485 shares of the company’s stock valued at $57,000 after acquiring an additional 876 shares during the last quarter. CWM LLC grew its position in shares of Amalgamated Financial by 41.2% during the 4th quarter. CWM LLC now owns 1,880 shares of the company’s stock valued at $60,000 after acquiring an additional 549 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Amalgamated Financial by 140.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company’s stock valued at $63,000 after acquiring an additional 1,177 shares during the period. 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.