Key Points
- Director Maryann Bruce sold 2,138 Amalgamated Financial shares for approximately $105,938, reducing her direct holdings by 10.72% to 17,804 shares. She also sold 2,089 shares in June.
- Amalgamated Financial reported quarterly EPS of $1.10, exceeding estimates by $0.10, while revenue of $96.1 million also topped forecasts.
- The company declared a quarterly dividend of $0.17 per share, equivalent to an annualized $0.68 dividend and a 1.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $53.50.
Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) Director Maryann Bruce sold 2,138 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $49.55, for a total value of $105,937.90. Following the transaction, the director directly owned 17,804 shares of the company's stock, valued at approximately $882,188.20. This trade represents a 10.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Maryann Bruce also recently made the following trade(s):
- On Wednesday, June 10th, Maryann Bruce sold 2,089 shares of Amalgamated Financial stock. The shares were sold at an average price of $41.39, for a total value of $86,463.71.
Amalgamated Financial Trading Up 0.5%
Amalgamated Financial stock opened at $49.63 on Tuesday. Amalgamated Financial Corp. has a 12 month low of $25.13 and a 12 month high of $50.92. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 13.23 and a beta of 0.79. The business's fifty day simple moving average is $45.49 and its two-hundred day simple moving average is $41.69. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.09.
Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. The firm had revenue of $96.10 million during the quarter, compared to the consensus estimate of $92.09 million. Amalgamated Financial had a return on equity of 14.49% and a net margin of 23.34%. As a group, equities analysts predict that Amalgamated Financial Corp. will post 4.06 earnings per share for the current fiscal year.
Amalgamated Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Tuesday, August 4th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, August 4th. Amalgamated Financial's dividend payout ratio (DPR) is currently 18.13%.
Hedge Funds Weigh In On Amalgamated Financial
Hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 worth $306,000 after acquiring an additional 468 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Amalgamated Financial by 17.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,110 shares of the company's stock valued at $1,872,000 after purchasing an additional 9,500 shares during the period. Jane Street Group LLC lifted its position in Amalgamated Financial by 373.1% during the first quarter. Jane Street Group LLC now owns 44,284 shares of the company's stock valued at $1,273,000 after purchasing an additional 34,923 shares during the period. Legal & General Group Plc boosted its holdings in Amalgamated Financial by 11.6% in the second quarter. Legal & General Group Plc now owns 21,476 shares of the company's stock worth $670,000 after purchasing an additional 2,231 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Amalgamated Financial by 27.9% in the second quarter. Rhumbline Advisers now owns 35,442 shares of the company's stock worth $1,106,000 after purchasing an additional 7,741 shares during the last quarter. Institutional investors own 75.93% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently issued reports on AMAL shares. Keefe, Bruyette & Woods upped their target price on shares of Amalgamated Financial from $53.00 to $54.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Zacks Research upgraded shares of Amalgamated Financial from a "strong sell" rating to a "hold" rating in a report on Thursday, June 25th. Piper Sandler upped their price objective on Amalgamated Financial from $48.00 to $53.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. Finally, Weiss Ratings downgraded Amalgamated Financial from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $53.50.
Check Out 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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