Amalgamated Financial (NASDAQ:AMAL) Director Sells $183,095.98 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) Director Julie Kelly sold 6,697 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $27.34, for a total value of $183,095.98. Following the transaction, the director directly owned 16,763 shares of the company’s stock, valued at $458,300.42. This trade represents a 28.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Amalgamated Financial Trading Up 1.9%

Shares of NASDAQ AMAL opened at $27.93 on Thursday. Amalgamated Financial Corp. has a 12-month low of $25.03 and a 12-month high of $38.19. The company has a market cap of $840.97 million, a price-to-earnings ratio of 8.41 and a beta of 0.88. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10. The stock’s 50 day simple moving average is $27.67 and its 200 day simple moving average is $29.35.

Amalgamated Financial (NASDAQ:AMAL) last issued its earnings results on Monday, December 19th. The company reported $0.46 earnings per share for the quarter. The firm had revenue of $49.68 million for the quarter. Amalgamated Financial had a return on equity of 14.97% and a net margin of 22.97%. Equities research analysts expect that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Wednesday, November 5th will be given a $0.14 dividend. The ex-dividend date is Wednesday, November 5th. This represents a $0.56 annualized dividend and a yield of 2.0%. Amalgamated Financial’s dividend payout ratio (DPR) is currently 16.87%.

Institutional Trading of Amalgamated Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Summit Securities Group LLC acquired a new stake in shares of Amalgamated Financial in the first quarter valued at $26,000. Osaic Holdings Inc. grew its holdings in Amalgamated Financial by 56.7% during the second quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock worth $34,000 after acquiring an additional 391 shares during the period. State of Alaska Department of Revenue bought a new stake in Amalgamated Financial in the third quarter worth about $33,000. Signaturefd LLC lifted its holdings in Amalgamated Financial by 110.1% in the 2nd quarter. Signaturefd LLC now owns 1,523 shares of the company’s stock valued at $48,000 after acquiring an additional 798 shares during the last quarter. Finally, Virtus Advisers LLC acquired a new stake in Amalgamated Financial in the 1st quarter valued at about $51,000. Institutional investors own 75.93% of the company’s stock.

Wall Street Analysts Forecast Growth

AMAL has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Amalgamated Financial in a research report on Thursday, October 30th. Piper Sandler downgraded Amalgamated Financial from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $34.00 to $27.00 in a research report on Tuesday, August 5th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $33.00.

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.