Key Points
- Director Maryann Bruce sold 3,000 shares for $154,080 at an average price of $51.36, reducing her direct holdings by 16.85% to 14,804 shares.
- Amalgamated Financial reported quarterly EPS of $1.14, beating the $1.08 consensus estimate; revenue was $99.17 million, slightly below expectations.
- Analysts give the stock a consensus “Moderate Buy” rating and a $54 average price target. The company also declared a $0.17 quarterly dividend, equivalent to a 1.3% yield.
Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) Director Maryann Bruce sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $51.36, for a total transaction of $154,080.00. Following the transaction, the director directly owned 14,804 shares in the company, valued at $760,333.44. The trade was a 16.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.
Amalgamated Financial Stock Performance
Amalgamated Financial stock opened at $50.53 on Tuesday. The stock has a fifty day moving average price of $48.28 and a 200 day moving average price of $44.29. Amalgamated Financial Corp. has a 52 week low of $26.61 and a 52 week high of $52.30. The firm has a market capitalization of $1.50 billion, a P/E ratio of 12.42 and a beta of 0.76. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.07.
Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last released its earnings results on Thursday, October 22nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.06. Amalgamated Financial had a net margin of 24.57% and a return on equity of 14.91%. The business had revenue of $99.17 million for the quarter, compared to analysts' expectations of $99.26 million. Equities research analysts anticipate that Amalgamated Financial Corp. will post 4.13 earnings per share for the current year.
Amalgamated Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Tuesday, November 3rd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.3%. Amalgamated Financial's dividend payout ratio (DPR) is currently 16.71%.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on AMAL shares. Piper Sandler boosted 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. Raymond James Financial initiated coverage on Amalgamated Financial in a report on Thursday, September 3rd. They issued an "outperform" rating and a $55.00 target price on the stock. Keefe, Bruyette & Woods boosted their price target on Amalgamated Financial from $53.00 to $54.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Finally, Weiss Ratings raised Amalgamated Financial from a "buy (b)" rating to a "buy (b+)" rating in a research report on Wednesday, November 4th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Amalgamated Financial currently has an average rating of "Moderate Buy" and a consensus target price of $54.00.
Read Our Latest Analysis on Amalgamated Financial
Institutional Trading of Amalgamated Financial
Several large investors have recently bought and sold shares of AMAL. BlackRock Inc. purchased a new stake in shares of Amalgamated Financial during the second quarter valued at approximately $156,331,000. Congress Asset Management Co. lifted its position in shares of Amalgamated Financial by 22.5% during the third quarter. Congress Asset Management Co. now owns 250,093 shares of the company's stock worth $11,897,000 after purchasing an additional 45,855 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Amalgamated Financial in the second quarter valued at $7,771,000. Bank of New York Mellon Corp purchased a new position in shares of Amalgamated Financial in the second quarter valued at $6,931,000. Finally, Bessemer Group Inc. boosted its stake in shares of Amalgamated Financial by 46.6% in the first quarter. Bessemer Group Inc. now owns 150,263 shares of the company's stock valued at $5,841,000 after purchasing an additional 47,770 shares during the period. Institutional investors and hedge funds own 75.93% of the company's stock.
About Amalgamated Financial
(
Get Free Report)
Amalgamated Financial Corp. is the bank holding company for Amalgamated Bank, a full-service commercial bank headquartered in New York City. Founded in 1923 by the Amalgamated Clothing Workers of America, the bank has a long history of serving labor organizations and working people.
The bank provides commercial and consumer banking services, including deposit accounts, lending, cash management and online banking. Its clients include businesses, nonprofit organizations, labor unions, political and advocacy groups, and individuals, with a particular focus on organizations connected to social and economic causes.
Amalgamated Bank serves customers across the United States through its banking offices and digital services.
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