Amalgamated Financial (NASDAQ:AMAL) Sets New 1-Year High – What’s Next?

Amalgamated Financial Corp. (NASDAQ:AMAL)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $34.79 and last traded at $34.74, with a volume of 13483 shares changing hands. The stock had previously closed at $34.52.

Wall Street Analyst Weigh In

AMAL has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $35.00 target price (up previously from $30.00) on shares of Amalgamated Financial in a research report on Monday, July 29th. JPMorgan Chase & Co. increased their target price on Amalgamated Financial from $31.50 to $32.50 and gave the company an “overweight” rating in a research note on Thursday, June 27th.

Amalgamated Financial Trading Up 0.3 %

The business has a 50-day moving average of $31.05 and a two-hundred day moving average of $27.71. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 11.28 and a beta of 0.92.

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

Amalgamated Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Tuesday, August 6th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.39%. Amalgamated Financial’s payout ratio is presently 15.69%.

Insider Activity at Amalgamated Financial

In other news, major shareholder United Canada Council Workers sold 44,577 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $29.97, for a total value of $1,335,972.69. Following the sale, the insider now owns 384,980 shares of the company’s stock, valued at approximately $11,537,850.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Amalgamated Financial

Several large investors have recently bought and sold shares of AMAL. Rhumbline Advisers grew its holdings in Amalgamated Financial by 1.3% during the second quarter. Rhumbline Advisers now owns 29,996 shares of the company’s stock valued at $822,000 after purchasing an additional 393 shares during the period. DekaBank Deutsche Girozentrale raised its stake in Amalgamated Financial by 12.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock worth $126,000 after buying an additional 528 shares during the period. Panagora Asset Management Inc. grew its position in shares of Amalgamated Financial by 1.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 36,364 shares of the company’s stock valued at $996,000 after purchasing an additional 616 shares during the period. Quest Partners LLC lifted its stake in Amalgamated Financial by 6.9% in the second quarter. Quest Partners LLC now owns 10,028 shares of the company’s stock valued at $275,000 after buying an additional 646 shares in the last quarter. Finally, Harrington Investments INC raised its stake in shares of Amalgamated Financial by 1.0% in the 2nd quarter. Harrington Investments INC now owns 75,900 shares of the company’s stock valued at $2,080,000 after purchasing an additional 760 shares during the period. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Amalgamated Financial Company Profile

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.