Amalgamated Financial (NASDAQ:AMAL) Hits New 12-Month High – Still a Buy?

Shares of Amalgamated Financial Corp. (NASDAQ:AMAL) hit a new 52-week high on Tuesday . The stock traded as high as $44.12 and last traded at $44.0810, with a volume of 11796 shares changing hands. The stock had previously closed at $42.70.

Wall Street Analyst Weigh In

AMAL has been the topic of several research reports. Weiss Ratings upgraded Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Piper Sandler boosted their price objective on shares of Amalgamated Financial from $41.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Finally, Zacks Research lowered Amalgamated Financial from a “hold” rating to a “strong sell” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Amalgamated Financial currently has a consensus rating of “Hold” and an average price target of $44.00.

Amalgamated Financial Trading Up 0.4%

The business has a 50 day moving average price of $41.36 and a 200-day moving average price of $37.77. The firm has a market capitalization of $1.31 billion, a PE ratio of 12.70 and a beta of 0.80. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.09.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.15). The firm had revenue of $91.36 million for the quarter, compared to analysts’ expectations of $91.16 million. Amalgamated Financial had a return on equity of 13.89% and a net margin of 22.33%. Analysts expect that Amalgamated Financial Corp. will post 3.92 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Tuesday, May 5th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, May 5th. Amalgamated Financial’s payout ratio is 19.77%.

Insider Buying and Selling at Amalgamated Financial

In other news, EVP Sean Searby sold 748 shares of the company’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $40.02, for a total transaction of $29,934.96. Following the completion of the transaction, the executive vice president directly owned 22,307 shares of the company’s stock, valued at approximately $892,726.14. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.63% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AMAL. Osaic Holdings Inc. lifted its holdings in Amalgamated Financial by 56.7% in the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock valued at $34,000 after acquiring an additional 391 shares during the last quarter. Arax Advisory Partners lifted its holdings in shares of Amalgamated Financial by 187.1% in the fourth quarter. Arax Advisory Partners now owns 1,269 shares of the company’s stock valued at $41,000 after purchasing an additional 827 shares in the last quarter. Royal Bank of Canada boosted its position in Amalgamated Financial by 143.8% during the 1st quarter. Royal Bank of Canada now owns 1,485 shares of the company’s stock worth $57,000 after acquiring an additional 876 shares during the period. CWM LLC grew its position in Amalgamated Financial by 41.2% during the fourth quarter. CWM LLC now owns 1,880 shares of the company’s stock valued at $60,000 after purchasing an additional 549 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Amalgamated Financial by 140.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company’s stock valued at $63,000 after acquiring an additional 1,177 shares in the last quarter. 75.93% of the stock is owned by institutional investors and hedge funds.

Amalgamated Financial Company Profile

Amalgamated Financial Corp. (NASDAQ: AMAL) is the bank holding company for Amalgamated Bank, a fully insured commercial bank with a historic mission of serving labor unions, progressive non-profits and mission-driven organizations. Founded in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank has grown into a national institution offering a broad suite of banking services, including deposit accounts, commercial and consumer lending, cash management, and treasury solutions tailored to organizations with social responsibility or union affiliations.

In addition to core banking, Amalgamated Financial provides wealth management and trust services, retirement plan consulting and impact investing strategies.