Amalgamated Financial (NASDAQ:AMAL) Reaches New 12-Month High – What’s Next?

Amalgamated Financial Corp. (NASDAQ:AMAL) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $36.56 and last traded at $36.56, with a volume of 4553 shares traded. The stock had previously closed at $33.35.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $35.00 target price (up previously from $30.00) on shares of Amalgamated Financial in a report on Monday, July 29th.

Amalgamated Financial Stock Up 10.1 %

The company has a market cap of $1.13 billion, a P/E ratio of 9.81 and a beta of 0.91. The company has a 50 day moving average of $32.22 and a 200-day moving average of $28.93. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.63 and a quick ratio of 0.63.

Amalgamated Financial (NASDAQ:AMAL) last released its earnings results on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. Amalgamated Financial had a return on equity of 16.53% and a net margin of 24.19%. The company had revenue of $111.76 million during the quarter, compared to analyst estimates of $79.50 million. During the same quarter in the previous year, the company posted $0.76 EPS. On average, equities analysts predict that Amalgamated Financial Corp. will post 3.46 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. Amalgamated Financial’s payout ratio is currently 14.12%.

Insider Buying and Selling

In related news, major shareholder United Canada Council Workers sold 44,577 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $29.97, for a total value of $1,335,972.69. Following the transaction, the insider now directly owns 384,980 shares of the company’s stock, valued at approximately $11,537,850.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder United Canada Council Workers sold 44,577 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $29.97, for a total value of $1,335,972.69. Following the completion of the sale, the insider now directly owns 384,980 shares in the company, valued at $11,537,850.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Sean Searby sold 8,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $34.14, for a total value of $273,120.00. Following the completion of the sale, the executive vice president now owns 15,802 shares of the company’s stock, valued at $539,480.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 326,428 shares of company stock worth $10,596,663 in the last 90 days. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Amalgamated Financial

A number of institutional investors have recently bought and sold shares of the business. American Century Companies Inc. grew its position in shares of Amalgamated Financial by 17.4% during the second quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock valued at $11,748,000 after purchasing an additional 63,561 shares in the last quarter. LSV Asset Management bought a new stake in shares of Amalgamated Financial during the second quarter valued at approximately $1,378,000. Assenagon Asset Management S.A. bought a new stake in shares of Amalgamated Financial during the third quarter valued at approximately $1,440,000. Deerfield Management Company L.P. Series C bought a new stake in shares of Amalgamated Financial during the second quarter valued at approximately $1,219,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Amalgamated Financial by 3.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,157,594 shares of the company’s stock valued at $31,716,000 after acquiring an additional 43,213 shares in the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

About Amalgamated Financial

Amalgamated Financial Corp. operates as the bank holding company for Amalgamated Bank that provides commercial and retail banking, investment management, and trust and custody services for commercial and retail customers in the United States. The company accepts various deposit products, including non-interest bearing accounts, interest-bearing demand products, savings accounts, money market accounts, NOW accounts, and certificates of deposit.