Amalgamated Financial (NASDAQ:AMAL) Earns “Outperform” Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their outperform rating on shares of Amalgamated Financial (NASDAQ:AMAL) in a research report sent to investors on Monday, Benzinga reports. Keefe, Bruyette & Woods currently has a $35.00 price target on the stock, up from their prior price target of $30.00.

A number of other research firms have also recently issued reports on AMAL. Piper Sandler reaffirmed an overweight rating and issued a $29.00 price target (up previously from $28.00) on shares of Amalgamated Financial in a report on Friday, April 26th. JPMorgan Chase & Co. raised their price target on shares of Amalgamated Financial from $31.50 to $32.50 and gave the stock an overweight rating in a report on Thursday, June 27th.

Amalgamated Financial Price Performance

Shares of AMAL opened at $31.81 on Monday. The company has a market cap of $970.84 million, a price-to-earnings ratio of 10.40 and a beta of 0.94. Amalgamated Financial has a twelve month low of $15.19 and a twelve month high of $32.79. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average of $27.06 and a two-hundred day moving average of $25.18.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.06. The company had revenue of $108.22 million during the quarter, compared to the consensus estimate of $77.33 million. Amalgamated Financial had a net margin of 23.64% and a return on equity of 16.67%. During the same period last year, the firm earned $0.72 earnings per share. As a group, analysts predict that Amalgamated Financial will post 3.21 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Tuesday, August 6th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $0.48 annualized dividend and a dividend yield of 1.51%. Amalgamated Financial’s dividend payout ratio (DPR) is presently 15.69%.

Insider Buying and Selling

In related news, insider Edgar Romney, Jr. sold 8,269 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $25.25, for a total transaction of $208,792.25. Following the completion of the transaction, the insider now owns 13,856 shares of the company’s stock, valued at $349,864. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Edgar Romney, Jr. sold 8,269 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $25.25, for a total transaction of $208,792.25. Following the completion of the transaction, the insider now owns 13,856 shares of the company’s stock, valued at $349,864. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jason Darby sold 4,000 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $27.02, for a total transaction of $108,080.00. Following the transaction, the chief financial officer now directly owns 56,470 shares of the company’s stock, valued at approximately $1,525,819.40. The disclosure for this sale can be found here. Insiders sold a total of 21,263 shares of company stock valued at $545,949 over the last 90 days. Insiders own 0.90% of the company’s stock.

Institutional Trading of Amalgamated Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMAL. Dimensional Fund Advisors LP grew its position in Amalgamated Financial by 13.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,005,772 shares of the company’s stock valued at $27,096,000 after buying an additional 122,722 shares during the period. Los Angeles Capital Management LLC grew its position in Amalgamated Financial by 402.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 86,682 shares of the company’s stock valued at $2,335,000 after buying an additional 69,416 shares during the period. Federated Hermes Inc. grew its position in Amalgamated Financial by 74.7% during the fourth quarter. Federated Hermes Inc. now owns 114,154 shares of the company’s stock valued at $3,075,000 after buying an additional 48,812 shares during the period. Isthmus Partners LLC grew its position in Amalgamated Financial by 38.8% during the first quarter. Isthmus Partners LLC now owns 136,397 shares of the company’s stock valued at $3,274,000 after buying an additional 38,112 shares during the period. Finally, Tidal Investments LLC acquired a new stake in Amalgamated Financial during the first quarter valued at $909,000. Institutional investors and hedge funds 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.