Amalgamated Financial (NASDAQ:AMAL) Sees Large Volume Increase – Time to Buy?

Amalgamated Financial Corp. (NASDAQ:AMAL) saw an uptick in trading volume on Thursday . 474,373 shares changed hands during trading, an increase of 138% from the previous session’s volume of 198,981 shares.The stock last traded at $28.44 and had previously closed at $27.71.

Analysts Set New Price Targets

AMAL has been the topic of several recent research reports. Piper Sandler raised Amalgamated Financial from an “underweight” rating to a “neutral” rating and increased their target price for the company from $27.00 to $28.00 in a research report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Amalgamated Financial in a report on Thursday, October 30th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $33.50.

Amalgamated Financial Trading Up 0.1%

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market cap of $830.69 million, a price-to-earnings ratio of 8.36 and a beta of 0.88. The company’s fifty day moving average is $27.47 and its two-hundred day moving average is $29.33.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings data on Monday, December 19th. The company reported $0.46 EPS for the quarter. The business had revenue of $49.68 million for the quarter. Amalgamated Financial had a net margin of 22.97% and a return on equity of 14.75%. On average, research analysts anticipate that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Wednesday, November 5th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, November 5th. Amalgamated Financial’s dividend payout ratio (DPR) is currently 16.87%.

Insider Buying and Selling

In other news, Director Edgar Romney sold 6,697 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $27.34, for a total transaction of $183,095.98. Following the sale, the director directly owned 16,763 shares of the company’s stock, valued at $458,300.42. This represents a 28.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Julie Kelly sold 6,697 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $27.34, for a total value of $183,095.98. Following the sale, the director owned 16,763 shares in the company, valued at $458,300.42. This trade represents a 28.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,961 shares of company stock valued at $837,329 in the last ninety days. Insiders own 1.29% of the company’s stock.

Institutional Trading of Amalgamated Financial

Institutional investors have recently bought and sold shares of the business. Summit Securities Group LLC acquired a new position in shares of Amalgamated Financial during the 1st quarter worth approximately $26,000. State of Alaska Department of Revenue purchased a new stake in Amalgamated Financial in the 3rd quarter worth $33,000. Osaic Holdings Inc. raised its position in Amalgamated Financial by 56.7% during the second quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock worth $34,000 after acquiring an additional 391 shares during the period. Signaturefd LLC lifted its holdings in Amalgamated Financial by 110.1% during the second quarter. Signaturefd LLC now owns 1,523 shares of the company’s stock valued at $48,000 after purchasing an additional 798 shares in the last quarter. Finally, Virtus Advisers LLC purchased a new position in Amalgamated Financial during the first quarter valued at $51,000. 75.93% of the stock is owned by institutional investors and hedge funds.

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.