Key Points
- Amalgamated Financial EVP Sean Searby sold 3,314 shares at an average price of $47.75, totaling $158,243.50. The sale was conducted under a pre-arranged Rule 10b5-1 plan, reducing his position by 15.95% to 17,466 shares.
- AMAL shares opened at $47.13, with the stock valued at approximately $1.41 billion and trading at a P/E ratio of 12.57. The company recently reported quarterly EPS of $1.10, exceeding analyst expectations of $1.00.
- Analysts maintain a “Moderate Buy” consensus rating with a $54.00 average price target, while the company pays a quarterly dividend of $0.17, representing a 1.4% annual yield.
Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) EVP Sean Searby sold 3,314 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $47.75, for a total transaction of $158,243.50. Following the sale, the executive vice president owned 17,466 shares in the company, valued at $834,001.50. This represents a 15.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Amalgamated Financial Stock Up 1.1%
Shares of AMAL opened at $47.13 on Friday. The firm has a 50 day simple moving average of $48.68 and a two-hundred day simple moving average of $44.03. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.64 and a quick ratio of 0.63. Amalgamated Financial Corp. has a one year low of $25.13 and a one year high of $51.59. The company has a market cap of $1.41 billion, a P/E ratio of 12.57 and a beta of 0.79.
Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its earnings results 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. Amalgamated Financial had a return on equity of 14.30% and a net margin of 23.34%.The firm had revenue of $96.10 million for the quarter, compared to the consensus estimate of $92.09 million. Research analysts forecast that Amalgamated Financial Corp. will post 4.06 EPS for the current fiscal year.
Amalgamated Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Tuesday, August 4th were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.68 annualized dividend and a yield of 1.4%. Amalgamated Financial's dividend payout ratio (DPR) is 18.13%.
Analyst Ratings Changes
Several research analysts have commented on AMAL shares. Raymond James Financial began coverage on Amalgamated Financial in a research note on Thursday, September 3rd. They set an "outperform" rating and a $55.00 target price for the company. Zacks Research upgraded shares of Amalgamated Financial from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 25th. Piper Sandler lifted their price target on shares of Amalgamated Financial from $48.00 to $53.00 and gave the company a "neutral" rating in a report on Monday, July 27th. Weiss Ratings raised shares of Amalgamated Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Amalgamated Financial from $53.00 to $54.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $54.00.
Check Out Our Latest Report on Amalgamated Financial
Hedge Funds Weigh In On Amalgamated Financial
Institutional investors and hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC acquired a new stake in shares of Amalgamated Financial during the second quarter worth $30,000. First Trust Advisors LP raised its stake in Amalgamated Financial by 3.2% during the first quarter. First Trust Advisors LP now owns 22,293 shares of the company's stock worth $867,000 after buying an additional 685 shares during the last quarter. Royal Bank of Canada lifted its holdings in Amalgamated Financial by 143.8% in the first quarter. Royal Bank of Canada now owns 1,485 shares of the company's stock valued at $57,000 after buying an additional 876 shares during the period. Parallel Advisors LLC lifted its holdings in Amalgamated Financial by 42.6% in the first quarter. Parallel Advisors LLC now owns 3,216 shares of the company's stock valued at $125,000 after buying an additional 961 shares during the period. Finally, Compass Financial Management LLC bought a new stake in Amalgamated Financial during the second quarter valued at $59,000. Institutional investors and hedge funds own 75.93% of the company's stock.
About Amalgamated Financial
(
Get Free Report)
Amalgamated Financial Corporation is the holding company for Amalgamated Bank, a full-service commercial bank founded in 1923 by the Amalgamated Clothing Workers of America. The bank provides banking and financial services to consumers, businesses, nonprofit organizations, labor unions, political organizations and other mission-driven institutions.
Its products and services include commercial and consumer deposit accounts, lending, cash management, payment processing, online and mobile banking, investment management and related treasury services.
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