Amalgamated Financial (NASDAQ:AMAL) Director Sells 2,138 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) Director Maryann Bruce sold 2,138 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $49.55, for a total value of $105,937.90. Following the sale, the director owned 17,804 shares in the company, valued at approximately $882,188.20. This trade represents a 10.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Maryann Bruce also recently made the following trade(s):

• On Wednesday, June 10th, Maryann Bruce sold 2,089 shares of Amalgamated Financial stock. The shares were sold at an average price of $41.39, for a total transaction of $86,463.71.

Amalgamated Financial Trading Up 0.9%

Shares of NASDAQ:AMAL traded up $0.44 during trading on Monday, reaching $49.82. The stock had a trading volume of 81,719 shares, compared to its average volume of 163,200. The business has a fifty day moving average price of $45.32 and a 200-day moving average price of $41.58. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.49 billion, a P/E ratio of 13.29 and a beta of 0.79. Amalgamated Financial Corp. has a fifty-two week low of $25.13 and a fifty-two week high of $50.92.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Amalgamated Financial had a return on equity of 14.49% and a net margin of 23.34%.The company had revenue of $96.10 million for the quarter, compared to analyst estimates of $92.09 million. As a group, analysts anticipate that Amalgamated Financial Corp. will post 4.06 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Tuesday, August 4th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, August 4th. Amalgamated Financial’s dividend payout ratio (DPR) is 18.13%.

Hedge Funds Weigh In On Amalgamated Financial

Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its position in Amalgamated Financial by 9.7% in the first quarter. Bank of America Corp DE now owns 164,680 shares of the company’s stock worth $6,401,000 after acquiring an additional 14,621 shares in the last quarter. Royal Bank of Canada raised its stake in Amalgamated Financial by 143.8% during the 1st quarter. Royal Bank of Canada now owns 1,485 shares of the company’s stock valued at $57,000 after purchasing an additional 876 shares during the period. Empowered Funds LLC grew its stake in Amalgamated Financial by 6.1% during the 1st quarter. Empowered Funds LLC now owns 134,342 shares of the company’s stock valued at $5,222,000 after acquiring an additional 7,698 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Amalgamated Financial by 51.7% during the first quarter. The Manufacturers Life Insurance Company now owns 10,549 shares of the company’s stock worth $410,000 after purchasing an additional 3,597 shares during the period. Finally, Quantinno Capital Management LP purchased a new position in shares of Amalgamated Financial during the 1st quarter valued at $380,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMAL. Keefe, Bruyette & Woods raised their target price on shares of Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Piper Sandler raised their price target on shares of Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Zacks Research upgraded Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 25th. Finally, Weiss Ratings downgraded shares of Amalgamated Financial from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Amalgamated Financial has an average rating of “Moderate Buy” and an average price target of $53.50.

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.