Amalgamated Financial (NASDAQ:AMAL - Get Free Report) issued its quarterly earnings data on Thursday. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03, Zacks reports. Amalgamated Financial had a return on equity of 15.21% and a net margin of 23.60%.
Amalgamated Financial Trading Up 0.4%
Amalgamated Financial stock traded up $0.11 during trading on Thursday, hitting $26.79. The company's stock had a trading volume of 32,840 shares, compared to its average volume of 201,921. The stock has a market capitalization of $806.62 million, a price-to-earnings ratio of 8.02 and a beta of 0.86. The stock's fifty day moving average is $27.96 and its 200 day moving average is $29.22. Amalgamated Financial has a 1-year low of $25.03 and a 1-year high of $38.19. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 0.64.
Amalgamated Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Wednesday, November 5th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, November 5th. Amalgamated Financial's dividend payout ratio is presently 16.77%.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Amalgamated Financial in a report on Wednesday, October 8th. Piper Sandler cut Amalgamated Financial from a "neutral" rating to an "underweight" rating and cut their price target for the stock from $34.00 to $27.00 in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $33.00.
Check Out Our Latest Stock Report on Amalgamated Financial
Insider Buying and Selling
In related news, EVP Sean Searby sold 4,106 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $29.77, for a total value of $122,235.62. Following the completion of the transaction, the executive vice president directly owned 12,303 shares in the company, valued at approximately $366,260.31. This represents a 25.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.29% of the company's stock.
Institutional Investors Weigh In On Amalgamated Financial
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. increased its stake 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 last quarter. Tower Research Capital LLC TRC increased its stake in Amalgamated Financial by 140.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company's stock worth $63,000 after acquiring an additional 1,177 shares during the last quarter. New York State Common Retirement Fund increased its stake in Amalgamated Financial by 22.6% during the second quarter. New York State Common Retirement Fund now owns 8,349 shares of the company's stock worth $260,000 after acquiring an additional 1,538 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Amalgamated Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company's stock worth $306,000 after acquiring an additional 468 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Amalgamated Financial by 18.6% during the second quarter. The Manufacturers Life Insurance Company now owns 12,143 shares of the company's stock worth $379,000 after acquiring an additional 1,907 shares during the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.
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.
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