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

Shares of Amalgamated Financial Corp. (NASDAQ:AMAL) hit a new 52-week high during trading on Monday . The company traded as high as $40.08 and last traded at $39.88, with a volume of 19511 shares trading hands. The stock had previously closed at $38.84.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AMAL shares. Piper Sandler upgraded shares of Amalgamated Financial from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $27.00 to $28.00 in a report on Wednesday, November 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of Amalgamated Financial in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $33.50.

Amalgamated Financial Stock Performance

The stock’s 50 day moving average is $33.20 and its two-hundred day moving average is $30.06. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 11.80 and a beta of 0.83. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, January 22nd. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.08. The company had revenue of $87.91 million for the quarter, compared to analyst estimates of $85.37 million. Amalgamated Financial had a return on equity of 14.80% and a net margin of 23.05%. Analysts expect that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Tuesday, February 3rd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, February 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.7%. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.14. Amalgamated Financial’s dividend payout ratio (DPR) is 16.42%.

Insider Activity at Amalgamated Financial

In related news, EVP Sam D. Brown sold 5,151 shares of the firm’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $35.50, for a total value of $182,860.50. Following the completion of the transaction, the executive vice president owned 53,232 shares of the company’s stock, valued at approximately $1,889,736. This trade represents a 8.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amalgamated Financial

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Amalgamated Financial by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock worth $45,943,000 after purchasing an additional 49,037 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Amalgamated Financial by 4.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,407,173 shares of the company’s stock valued at $38,205,000 after acquiring an additional 54,885 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Amalgamated Financial by 20.2% in the 2nd quarter. Geode Capital Management LLC now owns 608,506 shares of the company’s stock valued at $18,988,000 after acquiring an additional 102,166 shares during the period. American Century Companies Inc. increased its stake in shares of Amalgamated Financial by 6.7% during the 3rd quarter. American Century Companies Inc. now owns 589,033 shares of the company’s stock worth $15,992,000 after purchasing an additional 36,851 shares during the last quarter. Finally, Boston Trust Walden Corp acquired a new position in shares of Amalgamated Financial during the 2nd quarter worth about $16,974,000. Institutional investors own 75.93% of the company’s stock.

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.