Amalgamated Financial Corp. (NASDAQ:AMAL – Get Free Report) EVP Sam Brown sold 30,000 shares of Amalgamated Financial stock in a transaction on Tuesday, September 8th. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Amalgamated Financial Price Performance
Shares of NASDAQ:AMAL opened at $47.87 on Friday. The company has a market capitalization of $1.43 billion, a P/E ratio of 12.77 and a beta of 0.79. The company’s 50-day moving average is $48.58 and its 200 day moving average is $43.77. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.63 and a current ratio of 0.64. 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 data on Thursday, July 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $96.10 million during the quarter, compared to the consensus estimate of $92.09 million. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. On average, equities research analysts forecast that Amalgamated Financial Corp. will post 4.06 earnings per share for the current year.
Amalgamated Financial Dividend Announcement
Wall Street Analysts Forecast Growth
Several research firms recently commented on AMAL. Raymond James Financial started coverage on Amalgamated Financial in a research note on Thursday, September 3rd. They issued an “outperform” rating and a $55.00 price objective on the stock. Keefe, Bruyette & Woods raised their target price on Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Weiss Ratings upgraded Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Zacks Research raised Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. 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 note on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.00.
View Our Latest Research Report on AMAL
Trending Headlines about Amalgamated Financial
Here are the key news stories impacting Amalgamated Financial this week:
- Positive Sentiment: Amalgamated Financial’s latest reported quarter showed solid operating momentum: earnings per share came in at $1.10 versus the $1.00 consensus estimate, while revenue of $96.1 million exceeded expectations of $92.09 million.
- Positive Sentiment: Analyst sentiment remains constructive. The consensus rating is “Moderate Buy” with a $54 price target; Raymond James initiated coverage with an “outperform” rating and a $55 target, while Keefe, Bruyette & Woods raised its target to $54.
- Positive Sentiment: The company maintains a quarterly dividend of $0.17, or $0.68 annualized, representing a yield of approximately 1.4% and a payout ratio of about 18%.
- Neutral Sentiment: Reported short interest was zero shares, producing a zero-day short-interest ratio. The unchanged reading provides little useful information about current trading pressure.
- Negative Sentiment: Major shareholders United Workers and States Regional Joint Western each reported selling 79,649 AMAL shares at an average price of approximately $47.91, reducing their reported positions by about 40%. The combined sales represent roughly $7.6 million of potential supply. SEC major-shareholder filing
- Negative Sentiment: EVP Sam Brown sold 30,000 shares for approximately $1.45 million on September 8 and another 735 shares for about $35,000 on September 9. These transactions reduced his direct holdings substantially, although both were executed under a pre-arranged Rule 10b5-1 plan. SEC insider-sale filing
Institutional Investors Weigh In On Amalgamated Financial
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new stake in Amalgamated Financial during the 2nd quarter worth approximately $30,000. Arizona State Retirement System bought a new position in Amalgamated Financial in the 2nd quarter valued at $227,000. Amundi bought a new position in Amalgamated Financial in the 2nd quarter valued at $228,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Amalgamated Financial during the 2nd quarter valued at $421,000. Finally, California State Teachers Retirement System grew its position in shares of Amalgamated Financial by 4,999.4% during the 2nd quarter. California State Teachers Retirement System now owns 837,124 shares of the company’s stock valued at $38,424,000 after purchasing an additional 820,708 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors.
About Amalgamated Financial
Amalgamated Financial Corporation is the holding company for Amalgamated Bank, a full-service commercial bank founded in 1923 by the Amalgamated Clothing Workers of America. The bank provides banking and financial services to consumers, businesses, nonprofit organizations, labor unions, political organizations and other mission-driven institutions.
Its products and services include commercial and consumer deposit accounts, lending, cash management, payment processing, online and mobile banking, investment management and related treasury services.
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