Amalgamated Financial (NASDAQ:AMAL) Sees Unusually-High Trading Volume – Here’s Why

Shares of Amalgamated Financial Corp. (NASDAQ:AMAL) saw an uptick in trading volume on Thursday . 263,653 shares were traded during trading, an increase of 33% from the previous session’s volume of 198,902 shares.The stock last traded at $36.30 and had previously closed at $36.40.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AMAL. Keefe, Bruyette & Woods boosted their price target on Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler boosted their price objective on Amalgamated Financial from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th.

Amalgamated Financial Trading Down 1.8 %

The stock has a 50 day moving average of $34.57 and a 200-day moving average of $33.27. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.10 billion, a P/E ratio of 10.34 and a beta of 0.92.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. On average, research analysts predict that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Tuesday, February 11th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This is a boost from Amalgamated Financial’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a yield of 1.57%. Amalgamated Financial’s payout ratio is currently 13.91%.

Insider Buying and Selling

In other news, Director Maryann Bruce sold 4,403 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $33.77, for a total transaction of $148,689.31. Following the sale, the director now directly owns 18,319 shares of the company’s stock, valued at $618,632.63. This represents a 19.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder States Regional Joint Western sold 1,327 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $34.29, for a total value of $45,502.83. Following the sale, the insider now directly owns 7,121,506 shares in the company, valued at $244,196,440.74. This trade represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,701 shares of company stock valued at $4,118,476. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Amalgamated Financial

Several large investors have recently modified their holdings of the stock. US Bancorp DE increased its position in shares of Amalgamated Financial by 28.4% during the 3rd quarter. US Bancorp DE now owns 2,312 shares of the company’s stock valued at $73,000 after purchasing an additional 512 shares during the last quarter. USA Financial Formulas bought a new position in shares of Amalgamated Financial during the 4th quarter valued at approximately $34,000. CWM LLC increased its position in shares of Amalgamated Financial by 74.9% during the 3rd quarter. CWM LLC now owns 2,414 shares of the company’s stock valued at $76,000 after purchasing an additional 1,034 shares during the last quarter. R Squared Ltd bought a new position in shares of Amalgamated Financial during the 4th quarter valued at approximately $38,000. Finally, Harrington Investments INC increased its position in shares of Amalgamated Financial by 1.7% during the 4th quarter. Harrington Investments INC now owns 80,510 shares of the company’s stock valued at $2,695,000 after purchasing an additional 1,310 shares during the last quarter. Institutional investors own 75.93% of the company’s stock.

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.