Key Points
- EVP Tyrone Graham sold 2,285 shares on Feb. 20 at an average of $39.91 for $91,194.35, cutting his stake by 14.53% to 13,443 shares (about $536,510).
- Amalgamated boosted its quarterly dividend to $0.17 (up from $0.14), equal to a $0.68 annualized payout and a ~1.8% yield with a payout ratio near 19.94%.
- The company beat Q4 estimates with $0.99 EPS vs. $0.91 expected and $87.91M revenue, reporting a 23.05% net margin and 14.8% return on equity.
Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) EVP Tyrone Graham sold 2,285 shares of the company's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $39.91, for a total value of $91,194.35. Following the completion of the sale, the executive vice president owned 13,443 shares of the company's stock, valued at approximately $536,510.13. The trade was a 14.53% 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 link.
Amalgamated Financial Stock Down 4.4%
NASDAQ AMAL opened at $38.67 on Tuesday. The business's fifty day simple moving average is $36.38 and its 200-day simple moving average is $31.23. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.16 billion, a PE ratio of 11.34 and a beta of 0.83. Amalgamated Financial Corp. has a 52 week low of $25.03 and a 52 week high of $42.65.
Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.08. Amalgamated Financial had a net margin of 23.05% and a return on equity of 14.80%. The firm had revenue of $87.91 million during the quarter, compared to analyst estimates of $85.37 million. As a group, equities analysts anticipate that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.
Amalgamated Financial Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Tuesday, February 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, February 3rd. This is a boost from Amalgamated Financial's previous quarterly dividend of $0.14. Amalgamated Financial's dividend payout ratio is presently 19.94%.
Institutional Investors Weigh In On Amalgamated Financial
A number of hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in shares of Amalgamated Financial during the third quarter worth $33,000. Osaic Holdings Inc. lifted its holdings in Amalgamated Financial by 56.7% during the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company's stock worth $34,000 after buying an additional 391 shares during the last quarter. Arax Advisory Partners boosted its position in shares of Amalgamated Financial by 187.1% during the 4th quarter. Arax Advisory Partners now owns 1,269 shares of the company's stock worth $41,000 after acquiring an additional 827 shares in the last quarter. CWM LLC increased its holdings in shares of Amalgamated Financial by 41.2% in the 4th quarter. CWM LLC now owns 1,880 shares of the company's stock valued at $60,000 after acquiring an additional 549 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Amalgamated Financial by 140.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company's stock worth $63,000 after acquiring an additional 1,177 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently commented on AMAL. Piper Sandler upgraded Amalgamated Financial from an "underweight" rating to a "neutral" rating and raised their target price for the company from $27.00 to $28.00 in a report on Wednesday, November 19th. Weiss Ratings reissued a "hold (c+)" rating on shares of Amalgamated Financial in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have given 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 $33.50.
View Our Latest Analysis on AMAL
Amalgamated Financial Company Profile
(
Get Free Report)
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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