Amalgamated Financial (NASDAQ:AMAL) Director Sells $86,463.71 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) Director Maryann Bruce sold 2,089 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $41.39, for a total transaction of $86,463.71. Following the completion of the transaction, the director directly owned 19,942 shares of the company’s stock, valued at $825,399.38. This trade represents a 9.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Amalgamated Financial Stock Performance

Shares of NASDAQ:AMAL opened at $44.65 on Friday. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 12.98 and a beta of 0.80. Amalgamated Financial Corp. has a 52 week low of $25.13 and a 52 week high of $45.20. 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 firm has a 50 day moving average of $41.57 and a 200 day moving average of $37.93.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.15). Amalgamated Financial had a return on equity of 13.89% and a net margin of 22.33%.The business had revenue of $91.36 million during the quarter, compared to the consensus estimate of $91.16 million. On average, sell-side analysts predict that Amalgamated Financial Corp. will post 3.92 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Tuesday, May 5th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, May 5th. Amalgamated Financial’s payout ratio is currently 19.77%.

Analysts Set New Price Targets

Several equities analysts have issued reports on AMAL shares. Piper Sandler lifted their price target on shares of Amalgamated Financial from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Weiss Ratings raised shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Finally, Zacks Research lowered shares of Amalgamated Financial from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted its position in Amalgamated Financial by 56.7% during the second quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock valued at $34,000 after purchasing an additional 391 shares during the period. Arax Advisory Partners lifted its position in Amalgamated Financial by 187.1% during the fourth quarter. Arax Advisory Partners now owns 1,269 shares of the company’s stock valued at $41,000 after purchasing an additional 827 shares during the period. Royal Bank of Canada lifted its position in Amalgamated Financial by 143.8% during the first 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. CWM LLC lifted its position in Amalgamated Financial by 41.2% during the fourth quarter. CWM LLC now owns 1,880 shares of the company’s stock valued at $60,000 after purchasing an additional 549 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in Amalgamated Financial by 140.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company’s stock valued at $63,000 after purchasing an additional 1,177 shares during the period. 75.93% of the stock is currently owned by institutional investors and hedge funds.

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.