Amalgamated Financial (NASDAQ:AMAL) Sets New 52-Week High – Should You Buy?

Amalgamated Financial Corp. (NASDAQ:AMAL)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $33.34 and last traded at $33.24, with a volume of 49792 shares. The stock had previously closed at $31.74.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Amalgamated Financial from $31.50 to $32.50 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $35.00 price objective (up from $30.00) on shares of Amalgamated Financial in a research report on Monday, July 29th.

Amalgamated Financial Price Performance

The firm has a 50-day moving average of $30.82 and a 200-day moving average of $27.55. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market cap of $1.01 billion, a PE ratio of 10.19 and a beta of 0.92.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06. Amalgamated Financial had a net margin of 23.64% and a return on equity of 16.23%. The business had revenue of $108.22 million during the quarter, compared to analyst estimates of $77.33 million. During the same period last year, the firm posted $0.72 EPS. Research analysts predict that Amalgamated Financial Corp. will post 3.33 EPS for the current year.

Amalgamated Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Tuesday, August 6th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Tuesday, August 6th. Amalgamated Financial’s dividend payout ratio (DPR) is presently 14.86%.

Insider Activity

In related news, major shareholder United Canada Council Workers sold 44,577 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $29.97, for a total transaction of $1,335,972.69. Following the completion of the transaction, the insider now directly owns 384,980 shares of the company’s stock, valued at approximately $11,537,850.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Amalgamated Financial

A number of hedge funds have recently bought and sold shares of the business. Creative Planning increased its holdings in shares of Amalgamated Financial by 24.8% in the 3rd quarter. Creative Planning now owns 14,156 shares of the company’s stock worth $444,000 after buying an additional 2,812 shares during the last quarter. Harrington Investments INC grew its position in Amalgamated Financial by 4.3% in the third quarter. Harrington Investments INC now owns 79,200 shares of the company’s stock worth $2,485,000 after acquiring an additional 3,300 shares in the last quarter. CWM LLC grew its position in Amalgamated Financial by 74.9% in the third quarter. CWM LLC now owns 2,414 shares of the company’s stock worth $76,000 after acquiring an additional 1,034 shares in the last quarter. SG Americas Securities LLC increased its stake in Amalgamated Financial by 25.1% during the third quarter. SG Americas Securities LLC now owns 15,739 shares of the company’s stock worth $494,000 after acquiring an additional 3,161 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in Amalgamated Financial by 49.7% during the second quarter. Point72 Asset Management L.P. now owns 11,680 shares of the company’s stock valued at $320,000 after purchasing an additional 3,880 shares during the period. Hedge funds and other institutional investors own 75.93% of the company’s stock.

About Amalgamated Financial

Amalgamated Financial Corp. operates as the bank holding company for Amalgamated Bank that provides commercial and retail banking, investment management, and trust and custody services for commercial and retail customers in the United States. The company accepts various deposit products, including non-interest bearing accounts, interest-bearing demand products, savings accounts, money market accounts, NOW accounts, and certificates of deposit.