Key Points
- United Workers sold 79,649 Amalgamated Financial shares for approximately $3.82 million at an average price of $47.91, reducing its position by 40.07% to 119,133 shares. The sale followed several other disposals totaling hundreds of thousands of shares.
- Amalgamated Financial reported quarterly EPS of $1.10, exceeding the $1.00 consensus estimate, while revenue of $96.1 million also surpassed expectations. The company maintains a $0.17 quarterly dividend, equivalent to a 1.4% yield.
- Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $54, compared with the stock’s recent opening price of $47.87.
Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) insider Edgar Romney, Jr. sold 5,992 shares of the business's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $47.46, for a total transaction of $284,380.32. Following the sale, the insider directly owned 22,393 shares in the company, valued at $1,062,771.78. This trade represents a 21.11% decrease in their ownership of the stock. The sale was disclosed in a legal 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 Stock Performance
Shares of AMAL stock opened at $47.87 on Friday. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 12.77 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.64 and a quick ratio of 0.63. The business has a fifty day moving average of $48.58 and a 200 day moving average of $43.77. Amalgamated Financial Corp. has a 1 year low of $25.13 and a 1 year high of $51.59.
Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.10. The company had revenue of $96.10 million during the quarter, compared to analysts' expectations of $92.09 million. Amalgamated Financial had a return on equity of 14.30% and a net margin of 23.34%. As a group, research analysts expect that Amalgamated Financial Corp. will post 4.06 earnings per share for the current year.
Amalgamated Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Tuesday, August 4th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. Amalgamated Financial's payout ratio is 18.13%.
More Amalgamated Financial News
Here are the key news stories impacting Amalgamated Financial this week:
- Positive Sentiment: Amalgamated Financial’s latest reported quarter showed solid operating momentum: earnings per share came in at $1.10 versus the $1.00 consensus estimate, while revenue of $96.1 million exceeded expectations of $92.09 million.
- Positive Sentiment: Analyst sentiment remains constructive. The consensus rating is “Moderate Buy” with a $54 price target; Raymond James initiated coverage with an “outperform” rating and a $55 target, while Keefe, Bruyette & Woods raised its target to $54.
- Positive Sentiment: The company maintains a quarterly dividend of $0.17, or $0.68 annualized, representing a yield of approximately 1.4% and a payout ratio of about 18%.
- Neutral Sentiment: Reported short interest was zero shares, producing a zero-day short-interest ratio. The unchanged reading provides little useful information about current trading pressure.
- Negative Sentiment: Major shareholders United Workers and States Regional Joint Western each reported selling 79,649 AMAL shares at an average price of approximately $47.91, reducing their reported positions by about 40%. The combined sales represent roughly $7.6 million of potential supply. SEC major-shareholder filing
- 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. These transactions reduced his direct holdings substantially, although both were executed under a pre-arranged Rule 10b5-1 plan. SEC insider-sale filing
Hedge Funds Weigh In On Amalgamated Financial
Several large investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new stake in Amalgamated Financial during the second quarter worth $30,000. Osaic Holdings Inc. increased its holdings 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 buying an additional 391 shares in the last quarter. Arax Advisory Partners increased its holdings in Amalgamated Financial by 187.1% in the fourth quarter. Arax Advisory Partners now owns 1,269 shares of the company's stock valued at $41,000 after buying an additional 827 shares in the last quarter. Royal Bank of Canada raised its position in shares of Amalgamated Financial by 143.8% in the first quarter. Royal Bank of Canada now owns 1,485 shares of the company's stock worth $57,000 after acquiring an additional 876 shares during the period. Finally, Compass Financial Management LLC acquired a new position in shares of Amalgamated Financial in the second quarter worth about $59,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Amalgamated Financial from a "strong sell" rating to a "hold" rating in a report on Thursday, June 25th. Keefe, Bruyette & Woods lifted their price objective on shares of Amalgamated Financial from $53.00 to $54.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. Raymond James Financial initiated coverage on shares of Amalgamated Financial in a 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 stock a "neutral" rating in a research note on Monday, July 27th. Finally, Weiss Ratings raised shares of Amalgamated Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.00.
Check Out Our Latest Analysis on AMAL
About Amalgamated Financial
(
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.
Further Reading
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