Amalgamated Financial (NASDAQ:AMAL) Announces Quarterly Earnings Results

Amalgamated Financial (NASDAQ:AMAL) posted its earnings results on Thursday. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.10, FiscalAI reports. The company had revenue of $96.10 million for the quarter, compared to analyst estimates of $92.09 million. Amalgamated Financial had a net margin of 22.33% and a return on equity of 13.89%.

Amalgamated Financial Stock Performance

Shares of NASDAQ AMAL traded up $0.65 during midday trading on Thursday, hitting $47.61. 35,754 shares of the company’s stock were exchanged, compared to its average volume of 162,172. 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 has a 12 month low of $25.13 and a 12 month high of $48.60. The company’s 50 day moving average price is $44.11 and its 200 day moving average price is $40.79. The firm has a market capitalization of $1.42 billion, a PE ratio of 13.84 and a beta of 0.79.

Amalgamated Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Tuesday, August 4th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 4th. Amalgamated Financial’s dividend payout ratio (DPR) is presently 19.77%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AMAL shares. Weiss Ratings cut shares of Amalgamated Financial from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. Piper Sandler raised their price target on Amalgamated Financial from $44.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Finally, Zacks Research upgraded Amalgamated Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $48.00.

Insider Activity at Amalgamated Financial

In other Amalgamated Financial news, CFO Jason Darby sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $43.30, for a total transaction of $129,900.00. Following the completion of the sale, the chief financial officer owned 79,343 shares of the company’s stock, valued at $3,435,551.90. This trade represents a 3.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Leslie Veluswamy sold 2,500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $43.51, for a total value of $108,775.00. Following the transaction, the chief accounting officer owned 14,215 shares in the company, valued at approximately $618,494.65. This trade represents a 14.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 7,589 shares of company stock worth $325,139. Company insiders own 1.63% of the company’s stock.

Hedge Funds Weigh In On Amalgamated Financial

Several institutional investors and hedge funds have recently modified their holdings of AMAL. Osaic Holdings Inc. boosted its holdings in Amalgamated Financial by 56.7% in the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock valued at $34,000 after purchasing an additional 391 shares during the period. Arax Advisory Partners boosted its stake in shares of 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 buying an additional 827 shares during the period. Tower Research Capital LLC TRC grew its position in Amalgamated Financial by 140.6% during the second 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. Quadrant Capital Group LLC bought a new position in Amalgamated Financial during the 3rd quarter worth $77,000. Finally, Parallel Advisors LLC raised its holdings in Amalgamated Financial by 74.4% in the 3rd quarter. Parallel Advisors LLC now owns 2,905 shares of the company’s stock valued at $79,000 after acquiring an additional 1,239 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Amalgamated Financial

Here are the key news stories impacting Amalgamated Financial this week:

• Positive Sentiment: Amalgamated Financial reported Q2 EPS of $1.10, topping the consensus estimate of $1.00, while revenue of $96.1 million also exceeded expectations. Article Title
• Positive Sentiment: The company said second-quarter results were record-setting, with margin rising to 3.78% and guidance raised, signaling stronger profitability ahead. Article Title
• Positive Sentiment: Amalgamated Bank also announced a regular quarterly dividend of $0.17 per share, reinforcing a steady capital-return profile for shareholders. Article Title
• Neutral Sentiment: Additional coverage from multiple outlets repeated the same earnings beat and record-results theme, which may help sustain positive sentiment but does not add new fundamentals. Article Title

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.