Amalgamated Financial (NASDAQ:AMAL) Sets New 52-Week High - Still a Buy?

Key Points

• 52‑week high: Amalgamated Financial shares jumped to a new 52‑week high (intraday $43.12, last $43.295) as the stock rose about 4.6%, after the company reported quarterly EPS of $0.99 beating estimates and posts a PE of 12.89 with a $1.31 billion market cap.
• Analyst sentiment is lukewarm-to-positive — the stock has an average rating of Moderate Buy (two Buys, one Hold) and an average price target of $40, with recent notes including Piper Sandler’s neutral $41 and a Weiss Ratings upgrade to Buy.
• The firm raised its quarterly dividend to $0.17 (annualized $0.68, ~1.5% yield), but insiders sold roughly 13,633 shares last quarter; institutional ownership stands at about 75.9%.

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $43.12 and last traded at $43.2950, with a volume of 15601 shares. The stock had previously closed at $42.00.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMAL. Piper Sandler started coverage on shares of Amalgamated Financial in a research report on Monday, March 16th. They set a "neutral" rating and a $41.00 price target on the stock. Weiss Ratings upgraded Amalgamated Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Amalgamated Financial has an average rating of "Moderate Buy" and an average price target of $40.00.

Amalgamated Financial Stock Up 4.6%

The company has a debt-to-equity ratio of 0.09, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market capitalization of $1.31 billion, a PE ratio of 12.89 and a beta of 0.82. The business's 50 day simple moving average is $39.53 and its 200 day simple moving average is $33.97.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings results on Thursday, January 22nd. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.08. Amalgamated Financial had a net margin of 23.05% and a return on equity of 14.60%. The business had revenue of $87.91 million during the quarter, compared to the consensus estimate of $85.37 million. As a group, analysts anticipate that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Tuesday, February 3rd were given a $0.17 dividend. This is an increase from Amalgamated Financial's previous quarterly dividend of $0.14. This represents a $0.68 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, February 3rd. Amalgamated Financial's dividend payout ratio (DPR) is presently 19.94%.

Insider Activity

In other news, EVP Sam D. Brown sold 5,151 shares of the stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $35.50, for a total transaction of $182,860.50. Following the completion of the transaction, the executive vice president directly owned 53,232 shares in the company, valued at approximately $1,889,736. This represents a 8.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Tyrone Graham sold 2,285 shares of the company's stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $39.91, for a total transaction of $91,194.35. Following the completion of the transaction, the executive vice president directly owned 13,443 shares in the company, valued at $536,510.13. The trade was a 14.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,633 shares of company stock valued at $518,519 in the last quarter. Insiders own 1.29% of the company's stock.

Institutional Investors Weigh In On Amalgamated Financial

A number of institutional investors have recently modified their holdings of the company. AlphaQuest LLC acquired a new stake in shares of Amalgamated Financial during the third quarter worth about $816,000. American Century Companies Inc. increased its stake in 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 buying an additional 36,851 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Amalgamated Financial by 13.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 158,163 shares of the company's stock worth $4,294,000 after buying an additional 18,142 shares in the last quarter. Olympiad Research LP purchased a new position in Amalgamated Financial in the 3rd quarter valued at approximately $204,000. Finally, Campbell & CO Investment Adviser LLC grew its stake in shares of Amalgamated Financial by 4.5% in the third quarter. Campbell & CO Investment Adviser LLC now owns 22,231 shares of the company's stock worth $604,000 after acquiring an additional 950 shares in the last quarter. 75.93% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.