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

Amalgamated Financial Corp. (NASDAQ:AMAL) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $36.56 and last traded at $36.56, with a volume of 4553 shares trading hands. The stock had previously closed at $33.35.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $35.00 price target (up from $30.00) on shares of Amalgamated Financial in a research note on Monday, July 29th.

Amalgamated Financial Stock Down 7.4 %

The company has a fifty day moving average of $32.38 and a 200 day moving average of $29.04. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.08 billion, a P/E ratio of 10.39 and a beta of 0.91.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, October 24th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. The company had revenue of $111.76 million for the quarter, compared to analysts’ expectations of $79.50 million. Amalgamated Financial had a return on equity of 16.53% and a net margin of 24.19%. During the same period last year, the firm earned $0.76 EPS. On average, research analysts anticipate that Amalgamated Financial Corp. will post 3.46 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.36%. Amalgamated Financial’s dividend payout ratio (DPR) is presently 14.12%.

Insider Buying and Selling

In other Amalgamated Financial news, major shareholder States Regional Joint Western sold 175,000 shares of Amalgamated Financial stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $37.24, for a total transaction of $6,517,000.00. Following the transaction, the insider now owns 7,558,575 shares of the company’s stock, valued at $281,481,333. The trade was 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 through the SEC website. In other news, major shareholder United Canada Council Workers sold 82,464 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $31.05, for a total value of $2,560,507.20. Following the completion of the transaction, the insider now owns 440,401 shares of the company’s stock, valued at $13,674,451.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder States Regional Joint Western sold 175,000 shares of Amalgamated Financial stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $37.24, for a total value of $6,517,000.00. Following the sale, the insider now directly owns 7,558,575 shares in the company, valued at $281,481,333. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 501,428 shares of company stock valued at $17,113,663. 0.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amalgamated Financial

Several institutional investors and hedge funds have recently modified their holdings of AMAL. CWM LLC grew its stake in Amalgamated Financial by 679.7% during the second quarter. CWM LLC now owns 1,380 shares of the company’s stock valued at $38,000 after acquiring an additional 1,203 shares in the last quarter. US Bancorp DE grew its position in shares of Amalgamated Financial by 28.4% during the third quarter. US Bancorp DE now owns 2,312 shares of the company’s stock valued at $73,000 after purchasing an additional 512 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings 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 worth $126,000 after purchasing an additional 528 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Amalgamated Financial in the first quarter worth about $126,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Amalgamated Financial in the second quarter worth about $213,000. Institutional investors own 75.93% of the company’s stock.

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.