Insider Selling: Amalgamated Financial (NASDAQ:AMAL) Director Sells 8,949 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) Director Lynne Fox sold 8,949 shares of the business’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $27.34, for a total transaction of $244,665.66. Following the sale, the director directly owned 22,276 shares of the company’s stock, valued at approximately $609,025.84. The trade was a 28.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Amalgamated Financial Stock Performance

Shares of AMAL stock traded up $0.25 during mid-day trading on Monday, reaching $27.51. 135,417 shares of the company’s stock traded hands, compared to its average volume of 175,024. Amalgamated Financial Corp. has a 12 month low of $25.03 and a 12 month high of $38.19. The firm has a 50 day moving average price of $27.76 and a two-hundred day moving average price of $29.35. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $828.33 million, a PE ratio of 8.29 and a beta of 0.88.

Amalgamated Financial (NASDAQ:AMAL) last released its earnings results on Monday, December 19th. The company reported $0.46 earnings per share 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 for the quarter. On average, research analysts forecast that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Announces Dividend

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 dividend of $0.14 per share. The ex-dividend date is Wednesday, November 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.0%. Amalgamated Financial’s payout ratio is 16.87%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AMAL. Piper Sandler cut shares of Amalgamated Financial from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $34.00 to $27.00 in a research note on Tuesday, August 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Amalgamated Financial in a report on Thursday. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $33.00.

Institutional Trading of Amalgamated Financial

Several hedge funds have recently made changes to their positions in AMAL. Summit Securities Group LLC purchased a new stake in shares of Amalgamated Financial during the 1st quarter valued at about $26,000. State of Alaska Department of Revenue purchased a new stake in shares of Amalgamated Financial during the 3rd quarter valued at about $33,000. Osaic Holdings Inc. raised its position in shares of Amalgamated Financial by 56.7% during the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock valued at $34,000 after buying an additional 391 shares in the last quarter. Signaturefd LLC raised its position in shares of Amalgamated Financial by 110.1% during the 2nd quarter. Signaturefd LLC now owns 1,523 shares of the company’s stock valued at $48,000 after buying an additional 798 shares in the last quarter. Finally, Virtus Advisers LLC purchased a new stake in shares of Amalgamated Financial during the 1st quarter valued at about $51,000. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

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.