Key Points
- CFO Jason Darby sold 3,000 shares of Amalgamated Financial at an average price of $43.30, totaling about $129,900. After the sale, he still held 79,343 shares, reducing his ownership by 3.64%.
- Amalgamated Financial’s latest earnings missed estimates, reporting $0.80 EPS versus the expected $0.95, though revenue came in slightly ahead of forecasts at $91.36 million.
- The stock has been trading near its yearly high, opening at $43.68 with a 52-week range of $25.13 to $45.23. Analysts currently have a consensus Hold rating with an average price target of $44.00.
Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) CFO Jason Darby sold 3,000 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $43.30, for a total value of $129,900.00. Following the transaction, the chief financial officer owned 79,343 shares of the company's stock, valued at $3,435,551.90. This trade represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Amalgamated Financial Price Performance
Shares of AMAL opened at $43.68 on Tuesday. Amalgamated Financial Corp. has a 1 year low of $25.13 and a 1 year high of $45.23. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 12.70 and a beta of 0.80. The business has a 50-day moving average of $41.66 and a 200-day moving average of $38.08.
Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.80 earnings per share (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 company had revenue of $91.36 million for the quarter, compared to the consensus estimate of $91.16 million. As a group, equities research analysts anticipate that Amalgamated Financial Corp. will post 3.92 earnings per share for the current year.
Amalgamated Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Tuesday, May 5th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, May 5th. Amalgamated Financial's dividend payout ratio (DPR) is 19.77%.
Institutional Investors Weigh In On Amalgamated Financial
A number of hedge funds have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its stake in Amalgamated Financial by 11.0% in the fourth quarter. Quadrant Capital Group LLC now owns 3,136 shares of the company's stock valued at $100,000 after acquiring an additional 312 shares during the period. Intech Investment Management LLC grew its stake in Amalgamated Financial by 3.4% in the third quarter. Intech Investment Management LLC now owns 11,628 shares of the company's stock valued at $316,000 after acquiring an additional 383 shares during the period. Osaic Holdings Inc. grew 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 acquiring an additional 391 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Amalgamated Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company's stock valued at $306,000 after purchasing an additional 468 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Amalgamated Financial by 41.2% in the fourth quarter. CWM LLC now owns 1,880 shares of the company's stock valued at $60,000 after purchasing an additional 549 shares in the last quarter. Institutional investors and hedge funds own 75.93% of the company's stock.
Analyst Upgrades and Downgrades
AMAL has been the subject of a number of analyst reports. Zacks Research downgraded Amalgamated Financial from a "hold" rating to a "strong sell" rating in a research report on Friday, May 1st. Weiss Ratings upgraded Amalgamated Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 11th. Finally, Piper Sandler raised their price objective on Amalgamated Financial from $41.00 to $44.00 and gave the stock a "neutral" rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $44.00.
View Our Latest Stock Analysis on Amalgamated Financial
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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