Amalgamated Financial (NASDAQ:AMAL) Now Covered by Piper Sandler

Piper Sandler assumed coverage on shares of Amalgamated Financial (NASDAQ:AMAL) in a report issued on Monday morning, Marketbeat reports. The brokerage issued a neutral rating and a $41.00 target price on the stock.

Separately, Weiss Ratings raised shares of Amalgamated Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

Amalgamated Financial Stock Performance

NASDAQ AMAL opened at $38.00 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.67 and a current ratio of 0.67. The stock’s fifty day moving average is $38.11 and its two-hundred day moving average is $32.23. The firm has a market capitalization of $1.13 billion, a P/E ratio of 11.14 and a beta of 0.81. Amalgamated Financial has a fifty-two week low of $25.03 and a fifty-two week high of $42.65.

Amalgamated Financial (NASDAQ:AMAL) last issued its 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 return on equity of 14.60% and a net margin of 23.05%.The business had revenue of $87.91 million during the quarter, compared to the consensus estimate of $85.37 million. On average, research analysts anticipate that Amalgamated Financial will post 3.65 earnings per share for the current 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 paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.8%. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Tuesday, February 3rd. Amalgamated Financial’s payout ratio is 19.94%.

Insiders Place Their Bets

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 firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $39.91, for a total value of $91,194.35. Following the sale, the executive vice president directly owned 13,443 shares of the company’s stock, valued at $536,510.13. The trade was a 14.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,937 shares of company stock worth $293,534 in the last 90 days. Company insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new position in Amalgamated Financial during the third quarter worth about $33,000. Osaic Holdings Inc. raised its stake in shares of Amalgamated Financial by 56.7% in the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock valued at $34,000 after acquiring an additional 391 shares during the period. Arax Advisory Partners lifted its holdings in shares of Amalgamated Financial by 187.1% in the 4th quarter. Arax Advisory Partners now owns 1,269 shares of the company’s stock worth $41,000 after acquiring an additional 827 shares during the last quarter. CWM LLC lifted its holdings in shares of Amalgamated Financial by 41.2% in the 4th quarter. CWM LLC now owns 1,880 shares of the company’s stock worth $60,000 after acquiring an additional 549 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Amalgamated Financial by 140.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company’s stock worth $63,000 after purchasing an additional 1,177 shares during the period. Institutional investors and hedge funds 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.