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

Amalgamated Financial Corp. (NASDAQ:AMAL) Director Maryann Bruce sold 2,138 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $49.55, for a total transaction of $105,937.90. Following the sale, the director directly owned 17,804 shares of the company’s stock, valued at $882,188.20. This represents a 10.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $41.39, for a total value of $86,463.71.

Amalgamated Financial Stock Up 0.4%

Shares of AMAL opened at $49.81 on Wednesday. The stock has a 50 day moving average price of $45.65 and a 200 day moving average price of $41.80. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 13.28 and a beta of 0.79. Amalgamated Financial Corp. has a one year low of $25.13 and a one year high of $50.92.

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

Amalgamated Financial Announces Dividend

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

Hedge Funds Weigh In On Amalgamated Financial

Several institutional investors have recently modified their holdings of AMAL. Quadrant Capital Group LLC raised its stake in shares of Amalgamated Financial by 11.0% in the fourth quarter. Quadrant Capital Group LLC now owns 3,136 shares of the company’s stock valued at $100,000 after acquiring an additional 312 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of Amalgamated Financial by 3.4% in the 3rd quarter. Intech Investment Management LLC now owns 11,628 shares of the company’s stock valued at $316,000 after buying an additional 383 shares during the period. Osaic Holdings Inc. grew its position in shares of 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 buying an additional 391 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Amalgamated Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock worth $306,000 after buying an additional 468 shares during the period. Finally, CWM LLC raised its holdings in Amalgamated Financial by 41.2% in the fourth quarter. CWM LLC now owns 1,880 shares of the company’s stock valued at $60,000 after acquiring an additional 549 shares in the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Analyst Ratings Changes

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

Amalgamated Financial Company Profile

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.