Amalgamated Financial (AMAL) to Release Quarterly Earnings on Thursday

Amalgamated Financial (NASDAQ:AMAL – Get Rating) is set to announce its earnings results before the market opens on Thursday, January 26th. Analysts expect the company to announce earnings of $0.73 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Amalgamated Financial (NASDAQ:AMAL – Get Rating) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.08. The firm had revenue of $72.63 million during the quarter, compared to analyst estimates of $67.10 million. Amalgamated Financial had a net margin of 27.85% and a return on equity of 14.49%. On average, analysts expect Amalgamated Financial to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Amalgamated Financial Price Performance

Shares of AMAL traded up $0.35 during mid-day trading on Tuesday, reaching $23.49. 96,581 shares of the stock traded hands, compared to its average volume of 149,365. The firm has a fifty day moving average price of $24.30 and a 200 day moving average price of $23.43. The company has a market cap of $720.49 million, a price-to-earnings ratio of 10.13 and a beta of 0.83. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.31. Amalgamated Financial has a 1 year low of $15.90 and a 1 year high of $27.33.

Amalgamated Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 28th. Stockholders of record on Wednesday, November 9th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, November 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.70%. Amalgamated Financial’s dividend payout ratio (DPR) is currently 17.24%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their price target on shares of Amalgamated Financial from $29.00 to $28.00 and set an “overweight” rating for the company in a research report on Tuesday, December 20th.

Insider Transactions at Amalgamated Financial

In other news, VP Sam D. Brown sold 6,961 shares of Amalgamated Financial stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $25.32, for a total transaction of $176,252.52. Following the completion of the sale, the vice president now directly owns 1,855 shares of the company’s stock, valued at approximately $46,968.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Sam D. Brown sold 1,339 shares of Amalgamated Financial stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $25.01, for a total transaction of $33,488.39. Following the completion of the sale, the vice president now directly owns 8,816 shares of the company’s stock, valued at approximately $220,488.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sam D. Brown sold 6,961 shares of Amalgamated Financial stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $25.32, for a total transaction of $176,252.52. Following the sale, the vice president now directly owns 1,855 shares of the company’s stock, valued at $46,968.60. The disclosure for this sale can be found here. 2.12% 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 AMAL. Tower Research Capital LLC TRC lifted its stake in Amalgamated Financial by 96.4% in the third quarter. Tower Research Capital LLC TRC now owns 1,100 shares of the company’s stock worth $25,000 after purchasing an additional 540 shares during the last quarter. MetLife Investment Management LLC bought a new stake in Amalgamated Financial in the first quarter worth $134,000. UBS Group AG lifted its stake in Amalgamated Financial by 99.5% in the second quarter. UBS Group AG now owns 7,530 shares of the company’s stock worth $149,000 after purchasing an additional 3,755 shares during the last quarter. US Bancorp DE lifted its stake in Amalgamated Financial by 17.0% in the first quarter. US Bancorp DE now owns 10,061 shares of the company’s stock worth $181,000 after purchasing an additional 1,463 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in Amalgamated Financial by 7.9% in the third quarter. Royal Bank of Canada now owns 9,369 shares of the company’s stock worth $211,000 after purchasing an additional 689 shares during the last quarter. 48.99% of the stock is owned by institutional investors.

About Amalgamated Financial

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Amalgamated Financial Corp. operates as a holding company for Amalgamated Bank. It offers commercial and retail banking, investment management, and trust custody segments. The company was founded in 1923 and is headquartered in New York, NY.