Amalgamated Financial (NASDAQ:AMAL) Hits New 12-Month High – What’s Next?

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

Wall Street Analyst Weigh In

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

Amalgamated Financial Price Performance

The firm has a market cap of $1.07 billion, a P/E ratio of 11.42 and a beta of 0.92. The stock’s 50-day moving average is $31.30 and its 200-day moving average is $27.81. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.12.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.85 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 quarter in the prior year, the business earned $0.72 earnings per share. As a group, equities analysts anticipate that Amalgamated Financial Corp. will post 3.33 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Tuesday, August 6th. Amalgamated Financial’s payout ratio is 15.69%.

Insider Activity at Amalgamated Financial

In other Amalgamated Financial news, major shareholder United Canada Council Workers sold 44,577 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were 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 owns 384,980 shares in the company, valued at $11,537,850.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. CWM LLC increased its position in shares of Amalgamated Financial by 679.7% during the 2nd quarter. CWM LLC now owns 1,380 shares of the company’s stock worth $38,000 after purchasing an additional 1,203 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Amalgamated Financial during the first quarter worth approximately $126,000. DekaBank Deutsche Girozentrale raised its stake in shares of Amalgamated Financial by 12.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock valued at $126,000 after acquiring an additional 528 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Amalgamated Financial in the 2nd quarter worth approximately $213,000. Finally, Quest Partners LLC grew its position in Amalgamated Financial by 6.9% during the 2nd quarter. Quest Partners LLC now owns 10,028 shares of the company’s stock worth $275,000 after acquiring an additional 646 shares during the last quarter. 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.