Amalgamated Financial’s (AMAL) Hold (C) Rating Reaffirmed at Weiss Ratings

Weiss Ratings reiterated their hold (c) rating on shares of Amalgamated Financial (NASDAQ:AMAL) in a report issued on Thursday,Weiss Ratings reports.

Separately, Piper Sandler downgraded shares of Amalgamated Financial from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $34.00 to $27.00 in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Amalgamated Financial currently has a consensus rating of “Hold” and a consensus target price of $33.00.

Amalgamated Financial Stock Up 1.4%

AMAL stock opened at $27.65 on Thursday. Amalgamated Financial has a 12-month low of $25.03 and a 12-month high of $38.19. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.10. The company has a market cap of $832.54 million, a price-to-earnings ratio of 8.33 and a beta of 0.86. The company has a 50 day moving average of $27.85 and a two-hundred day moving average of $29.30.

Amalgamated Financial (NASDAQ:AMAL) last released its earnings results on Monday, December 19th. The company reported $0.46 earnings per share (EPS) for the quarter. Amalgamated Financial had a net margin of 22.97% and a return on equity of 14.97%. The company had revenue of $49.68 million during the quarter. On average, equities analysts anticipate that Amalgamated Financial will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The company 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. The ex-dividend date is Wednesday, November 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.0%. Amalgamated Financial’s dividend payout ratio (DPR) is presently 16.87%.

Insiders Place Their Bets

In related news, EVP Sean Searby sold 3,512 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $29.68, for a total transaction of $104,236.16. Following the completion of the sale, the executive vice president owned 8,791 shares in the company, valued at $260,916.88. This represents a 28.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.29% of the stock is currently owned by insiders.

Institutional Trading of Amalgamated Financial

Several hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. grew its position in Amalgamated Financial by 1,738.5% in the 1st quarter. Alliancebernstein L.P. now owns 767,438 shares of the company’s stock worth $22,064,000 after purchasing an additional 725,695 shares during the last quarter. Boston Trust Walden Corp acquired a new stake in Amalgamated Financial in the 2nd quarter worth $16,974,000. Adage Capital Partners GP L.L.C. grew its position in Amalgamated Financial by 35.1% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 740,642 shares of the company’s stock worth $21,293,000 after purchasing an additional 192,577 shares during the last quarter. Nuveen LLC acquired a new stake in Amalgamated Financial in the 1st quarter worth $3,416,000. Finally, First Trust Advisors LP grew its position in Amalgamated Financial by 616.8% in the 2nd quarter. First Trust Advisors LP now owns 132,681 shares of the company’s stock worth $4,140,000 after purchasing an additional 114,171 shares during the last quarter. Institutional investors own 75.93% of the company’s stock.

Amalgamated Financial Company Profile

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.