Amalgamated Financial (NASDAQ:AMAL) Sets New 1-Year High - Here's Why

Key Points

• Amalgamated Financial (NASDAQ: AMAL) hit a new 52-week high of $45.20 on Monday, reflecting continued momentum in the stock.
• Analysts are mixed on the name: Piper Sandler raised its price target to $44, while Weiss Ratings upgraded the stock and Zacks Research downgraded it, leaving the consensus rating at Hold with a $44 target.
• The bank recently reported Q1 earnings of $0.80 per share, missing expectations, but it also paid a quarterly dividend of $0.17, for an annualized yield of about 1.5%.

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The company traded as high as $45.20 and last traded at $44.86, with a volume of 149363 shares traded. The stock had previously closed at $44.65.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AMAL shares. Weiss Ratings upgraded shares of Amalgamated Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 11th. Zacks Research downgraded shares of Amalgamated Financial from a "hold" rating to a "strong sell" rating in a research report on Friday, May 1st. Finally, Piper Sandler raised their target price on shares of Amalgamated Financial from $41.00 to $44.00 and gave the company a "neutral" rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $44.00.

Amalgamated Financial Trading Down 0.4%

The firm has a market cap of $1.33 billion, a P/E ratio of 12.93 and a beta of 0.80. The business's 50-day moving average is $41.57 and its two-hundred day moving average is $37.99. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.64 and a quick ratio of 0.64.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last released its earnings results on Thursday, April 23rd. The company reported $0.80 earnings per share for the quarter, missing analysts' consensus estimates of $0.95 by ($0.15). The business had revenue of $91.36 million during the quarter, compared to the consensus estimate of $91.16 million. Amalgamated Financial had a net margin of 22.33% and a return on equity of 13.89%. As a group, analysts predict that Amalgamated Financial Corp. will post 3.92 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Tuesday, May 5th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, May 5th. Amalgamated Financial's dividend payout ratio (DPR) is 19.77%.

Insider Activity

In other news, EVP Sean Searby sold 4,948 shares of Amalgamated Financial stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $39.42, for a total value of $195,050.16. Following the completion of the transaction, the executive vice president owned 23,055 shares of the company's stock, valued at $908,828.10. This trade represents a 17.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Maryann Bruce sold 2,089 shares of Amalgamated Financial stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $41.39, for a total transaction of $86,463.71. Following the completion of the transaction, the director directly owned 19,942 shares of the company's stock, valued at approximately $825,399.38. This trade represents a 9.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,285 shares of company stock valued at $420,224 in the last quarter. Company insiders own 1.63% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AMAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Amalgamated Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company's stock worth $306,000 after buying an additional 468 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Amalgamated Financial by 17.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,110 shares of the company's stock worth $1,872,000 after buying an additional 9,500 shares during the period. Jane Street Group LLC boosted its holdings in shares of Amalgamated Financial by 373.1% during the 1st quarter. Jane Street Group LLC now owns 44,284 shares of the company's stock worth $1,273,000 after buying an additional 34,923 shares during the period. Legal & General Group Plc boosted its holdings in shares of Amalgamated Financial by 11.6% during the 2nd quarter. Legal & General Group Plc now owns 21,476 shares of the company's stock worth $670,000 after buying an additional 2,231 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Amalgamated Financial by 27.9% during the 2nd quarter. Rhumbline Advisers now owns 35,442 shares of the company's stock worth $1,106,000 after buying an additional 7,741 shares during the period. Institutional investors own 75.93% of the company's stock.

About Amalgamated Financial

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.

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