Amalgamated Financial Corp. (NASDAQ:AMAL – Get Free Report) CFO Jason Darby sold 4,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $27.02, for a total transaction of $108,080.00. Following the completion of the transaction, the chief financial officer now owns 56,470 shares in the company, valued at $1,525,819.40. The sale was disclosed in a filing with the SEC, which is available through this link.
Amalgamated Financial Price Performance
NASDAQ AMAL opened at $26.88 on Wednesday. The company has a market cap of $820.38 million, a PE ratio of 8.78 and a beta of 0.94. The firm’s 50 day moving average price is $25.23 and its 200-day moving average price is $24.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.64 and a current ratio of 0.64. Amalgamated Financial Corp. has a 52-week low of $15.19 and a 52-week high of $27.77.
Amalgamated Financial (NASDAQ:AMAL – Get Free Report) last announced its earnings results on Thursday, April 25th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.11. The business had revenue of $107.16 million for the quarter, compared to analysts’ expectations of $75.77 million. Amalgamated Financial had a return on equity of 16.34% and a net margin of 23.22%. During the same quarter last year, the firm earned $0.74 EPS. Sell-side analysts forecast that Amalgamated Financial Corp. will post 3.13 EPS for the current fiscal year.
Amalgamated Financial Increases Dividend
Institutional Trading of Amalgamated Financial
Hedge funds have recently modified their holdings of the company. Parallel Advisors LLC lifted its position in Amalgamated Financial by 50.5% during the fourth quarter. Parallel Advisors LLC now owns 1,633 shares of the company’s stock valued at $44,000 after acquiring an additional 548 shares during the last quarter. AJOVista LLC acquired a new stake in shares of Amalgamated Financial in the 4th quarter worth $94,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Amalgamated Financial in the 1st quarter worth $126,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Amalgamated Financial by 35.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,310 shares of the company’s stock worth $170,000 after buying an additional 1,665 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in Amalgamated Financial by 20.2% during the 4th quarter. New York State Common Retirement Fund now owns 9,914 shares of the company’s stock valued at $267,000 after buying an additional 1,667 shares in the last quarter. 75.93% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages recently issued reports on AMAL. Keefe, Bruyette & Woods dropped their price objective on Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, April 5th. Piper Sandler reiterated an “overweight” rating and issued a $29.00 target price (up from $28.00) on shares of Amalgamated Financial in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. raised their price target on Amalgamated Financial from $31.50 to $32.50 and gave the company an “overweight” rating in a research note on Thursday, June 27th.
Check Out Our Latest Research Report on AMAL
About Amalgamated Financial
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.
Featured Articles
- Five stocks we like better than Amalgamated Financial
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- RXO Shares Surge Following New Acquisition Deal
- What Does a Stock Split Mean?
- 3 Stock Dips Insiders Are Buying: Vestis, Shenandoah, Treace
- The How and Why of Investing in Gold Stocks
- Biotech Stock Breakout: IBB Eyes Resistance with Amgen and Vertex
Receive News & Ratings for Amalgamated Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amalgamated Financial and related companies with MarketBeat.com's FREE daily email newsletter.