Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) EVP Sam D. Brown sold 8,994 shares of the company's stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $25.47, for a total value of $229,077.18. Following the sale, the executive vice president now owns 45,970 shares in the company, valued at $1,170,855.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Amalgamated Financial Trading Down 1.1 %
Shares of AMAL opened at $25.12 on Wednesday. Amalgamated Financial Corp. has a 1-year low of $14.05 and a 1-year high of $27.77. The company has a market capitalization of $766.16 million, a P/E ratio of 8.21 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.65 and a quick ratio of 0.65. The firm's 50 day simple moving average is $23.37 and its 200 day simple moving average is $23.37.
Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.11. Amalgamated Financial had a net margin of 23.22% and a return on equity of 16.81%. The firm had revenue of $107.16 million for the quarter, compared to analysts' expectations of $75.77 million. During the same quarter last year, the company posted $0.74 EPS. Sell-side analysts forecast that Amalgamated Financial Corp. will post 3.13 earnings per share for the current fiscal year.
Amalgamated Financial Increases Dividend
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.48 annualized dividend and a yield of 1.91%. This is a positive change from Amalgamated Financial's previous quarterly dividend of $0.10. Amalgamated Financial's payout ratio is 13.07%.
Hedge Funds Weigh In On Amalgamated Financial
Several institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in Amalgamated Financial in the third quarter worth approximately $137,000. Bank of New York Mellon Corp boosted its stake in shares of Amalgamated Financial by 33.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 167,441 shares of the company's stock valued at $2,883,000 after purchasing an additional 42,171 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Amalgamated Financial by 3.9% during the 3rd quarter. Brown Advisory Inc. now owns 862,875 shares of the company's stock valued at $14,859,000 after purchasing an additional 32,733 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Amalgamated Financial in the 3rd quarter worth $200,000. Finally, Assenagon Asset Management S.A. lifted its stake in Amalgamated Financial by 178.6% in the third quarter. Assenagon Asset Management S.A. now owns 98,865 shares of the company's stock worth $1,702,000 after purchasing an additional 63,385 shares during the last quarter. 75.93% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $29.00 price objective (up previously from $28.00) on shares of Amalgamated Financial in a research note on Friday, April 26th. Keefe, Bruyette & Woods reduced their price target on shares of Amalgamated Financial from $32.00 to $30.00 and set an "outperform" rating for the company in a research report on Friday, April 5th. Finally, JPMorgan Chase & Co. lowered their price objective on Amalgamated Financial from $33.00 to $29.50 and set an "overweight" rating on the stock in a research report on Thursday, April 4th.
Get Our Latest Stock Report on AMAL
Amalgamated Financial Company Profile
(
Get Free Report)
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.
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