Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) shares saw unusually-high trading volume on Thursday . Approximately 263,653 shares traded hands during trading, an increase of 33% from the previous session's volume of 198,902 shares.The stock last traded at $36.30 and had previously closed at $36.40.
Wall Street Analyst Weigh In
AMAL has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their price objective on Amalgamated Financial from $41.00 to $45.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Piper Sandler upped their price target on shares of Amalgamated Financial from $39.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th.
Read Our Latest Research Report on Amalgamated Financial
Amalgamated Financial Stock Up 1.0 %
The firm's 50-day simple moving average is $34.59 and its 200-day simple moving average is $33.34. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 10.63 and a beta of 0.92.
Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. Sell-side analysts forecast that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.
Amalgamated Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be paid a dividend of $0.14 per share. This is a positive change from Amalgamated Financial's previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 1.53%. The ex-dividend date is Tuesday, February 11th. Amalgamated Financial's dividend payout ratio is currently 13.91%.
Insider Buying and Selling at Amalgamated Financial
In other news, major shareholder States Regional Joint Western sold 18,000 shares of Amalgamated Financial stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $34.27, for a total value of $616,860.00. Following the completion of the transaction, the insider now owns 7,167,816 shares in the company, valued at approximately $245,641,054.32. The trade was a 0.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Maryann Bruce sold 4,403 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $33.77, for a total value of $148,689.31. Following the sale, the director now owns 18,319 shares in the company, valued at approximately $618,632.63. This trade represents a 19.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,730 shares of company stock valued at $1,163,152. 0.90% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Amalgamated Financial
A number of institutional investors and hedge funds have recently bought and sold shares of AMAL. Neumeier Poma Investment Counsel LLC bought a new position in shares of Amalgamated Financial in the fourth quarter valued at about $13,093,000. Congress Asset Management Co. acquired a new stake in Amalgamated Financial in the fourth quarter worth about $5,339,000. Charles Schwab Investment Management Inc. raised its holdings in Amalgamated Financial by 219.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company's stock worth $5,083,000 after purchasing an additional 111,357 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Amalgamated Financial by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company's stock valued at $17,806,000 after purchasing an additional 89,444 shares during the period. Finally, Figure 8 Investment Strategies LLC bought a new position in shares of Amalgamated Financial in the 4th quarter valued at about $2,778,000. Institutional investors and hedge funds own 75.93% of the company's stock.
Amalgamated Financial Company Profile
(
Get Free Report)
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.
Recommended Stories
Before you consider Amalgamated Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Amalgamated Financial wasn't on the list.
While Amalgamated Financial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
