Shares of Amalgamated Financial Corp. (NASDAQ:AMAL – Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $45.25 and last traded at $45.18, with a volume of 27533 shares traded. The stock had previously closed at $44.25.
Analysts Set New Price Targets
A number of research firms have recently commented on AMAL. Piper Sandler increased their price objective on Amalgamated Financial from $41.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Zacks Research cut Amalgamated Financial from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st. Finally, Weiss Ratings raised Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Amalgamated Financial currently has an average rating of “Hold” and a consensus price target of $44.00.
Check Out Our Latest Analysis on Amalgamated Financial
Amalgamated Financial Stock Up 1.9%
Amalgamated Financial (NASDAQ:AMAL – Get Free Report) last posted its earnings results on Thursday, April 23rd. The company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.15). Amalgamated Financial had a return on equity of 13.89% and a net margin of 22.33%.The firm had revenue of $91.36 million for the quarter, compared to analyst estimates of $91.16 million. As a group, sell-side analysts anticipate that Amalgamated Financial Corp. will post 3.92 earnings per share for the current year.
Amalgamated Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Tuesday, May 5th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.68 annualized dividend and a yield of 1.5%. Amalgamated Financial’s payout ratio is 19.77%.
Insider Transactions at Amalgamated Financial
In other Amalgamated Financial news, EVP Sean Searby sold 4,948 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $39.42, for a total value of $195,050.16. Following the completion of the sale, the executive vice president owned 23,055 shares in the company, valued at approximately $908,828.10. The trade was a 17.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Maryann Bruce sold 2,089 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $41.39, for a total value of $86,463.71. Following the completion of the sale, the director directly owned 19,942 shares of the company’s stock, valued at $825,399.38. The trade was a 9.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 13,285 shares of company stock worth $550,124. 1.63% of the stock is currently owned by corporate insiders.
Institutional Trading of Amalgamated Financial
A number of large investors have recently bought and sold shares of AMAL. Osaic Holdings Inc. increased its stake in 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 during the period. Arax Advisory Partners boosted its stake in shares of Amalgamated Financial by 187.1% during the fourth quarter. Arax Advisory Partners now owns 1,269 shares of the company’s stock worth $41,000 after buying an additional 827 shares during the period. Royal Bank of Canada grew its holdings in shares of Amalgamated Financial by 143.8% during the first quarter. Royal Bank of Canada now owns 1,485 shares of the company’s stock worth $57,000 after buying an additional 876 shares during the last quarter. CWM LLC grew its holdings in shares of Amalgamated Financial by 41.2% during the fourth quarter. CWM LLC now owns 1,880 shares of the company’s stock worth $60,000 after buying an additional 549 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Amalgamated Financial by 140.6% in 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 and hedge funds own 75.93% of the company’s stock.
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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