Key Points
- EVP Sam Brown sold 30,000 shares of Amalgamated Financial at an average price of $48.42, generating approximately $1.45 million. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced his direct ownership by 53%.
- Amalgamated Financial exceeded quarterly expectations, reporting $1.10 EPS versus the $1.00 consensus estimate and $96.1 million in revenue versus $92.09 million expected.
- Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $54 price target. The company also pays a quarterly dividend of $0.17, equivalent to an annualized yield of about 1.4%.
Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) EVP Sam Brown sold 735 shares of Amalgamated Financial stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $47.61, for a total transaction of $34,993.35. Following the completion of the sale, the executive vice president directly owned 25,874 shares in the company, valued at approximately $1,231,861.14. The trade was a 2.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Amalgamated Financial Trading Up 1.4%
Shares of Amalgamated Financial stock opened at $48.52 on Friday. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 12.94 and a beta of 0.79. Amalgamated Financial Corp. has a 52-week low of $25.13 and a 52-week high of $51.59. The company's 50-day simple moving average is $48.54 and its 200-day simple moving average is $43.74. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.08.
Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.10. The company had revenue of $96.10 million for the quarter, compared to analyst estimates of $92.09 million. Amalgamated Financial had a return on equity of 14.30% and a net margin of 23.34%. As a group, equities research analysts anticipate that Amalgamated Financial Corp. will post 4.06 earnings per share for the current year.
Amalgamated Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Tuesday, August 4th were issued a $0.17 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. Amalgamated Financial's dividend payout ratio is currently 18.13%.
Analyst Ratings Changes
A number of research firms have commented on AMAL. Weiss Ratings upgraded Amalgamated Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods lifted their price target on Amalgamated Financial from $53.00 to $54.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Raymond James Financial started coverage on shares of Amalgamated Financial in a research report on Thursday, September 3rd. They issued an "outperform" rating and a $55.00 price objective on the stock. Piper Sandler increased their price objective on shares of Amalgamated Financial from $48.00 to $53.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. Finally, Zacks Research upgraded shares of Amalgamated Financial from a "strong sell" rating to a "hold" rating in a report on Thursday, June 25th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Amalgamated Financial currently has an average rating of "Moderate Buy" and a consensus price target of $54.00.
Read Our Latest Research Report on Amalgamated Financial
More Amalgamated Financial News
Here are the key news stories impacting Amalgamated Financial this week:
- Positive Sentiment: Amalgamated Financial’s latest quarterly earnings exceeded expectations, with earnings per share of $1.10 versus the $1.00 consensus estimate and revenue of $96.1 million versus the $92.09 million forecast. Analysts expect approximately $4.06 in full-year EPS.
- Positive Sentiment: Analyst sentiment remains favorable. The consensus rating is “Moderate Buy” with a $54 target price, while Raymond James initiated coverage with an “outperform” rating and a $55 price objective. Keefe, Bruyette & Woods also raised its target to $54.
- Positive Sentiment: The company continues to pay a quarterly dividend of $0.17, equivalent to $0.68 annually and a yield of about 1.4%.
- Neutral Sentiment: Reported short interest was listed as zero shares with a zero-day short ratio. Because the data showed no change and an invalid percentage calculation, it provides little useful information about trading pressure.
- Negative Sentiment: EVP Sam Brown sold 30,000 shares for approximately $1.45 million on September 8 and another 735 shares for about $35,000 on September 9. Both transactions were executed under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by roughly 53% and 2.8%, respectively. SEC insider-sale filing
- Negative Sentiment: Major shareholder States Regional Joint Western sold 42,910 shares for approximately $2.08 million on September 8, following several additional sales in late August and early September. The repeated disposals represent millions of dollars in selling and may raise concerns about concentrated-holder supply, even though they do not indicate deteriorating company results. Major shareholder sale report
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC acquired a new stake in shares of Amalgamated Financial during the second quarter valued at about $2,259,000. Empowered Funds LLC acquired a new stake in Amalgamated Financial in the second quarter worth $6,459,000. Vanguard Group Inc. lifted its position in Amalgamated Financial by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company's stock valued at $45,943,000 after purchasing an additional 49,037 shares during the last quarter. Versor Investments LP bought a new position in Amalgamated Financial in the 4th quarter worth approximately $935,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Amalgamated Financial in the second quarter worth about $1,298,000. Institutional investors and hedge funds own 75.93% of the company's stock.
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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