Amalgamated Financial (NASDAQ:AMAL) Director Edgar Romney Sells 6,697 Shares

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

Amalgamated Financial Stock Up 0.9%

Amalgamated Financial stock traded up $0.25 during trading on Monday, hitting $27.51. 135,417 shares of the company were exchanged, compared to its average volume of 175,024. The business’s 50 day moving average is $27.76 and its 200 day moving average is $29.35. Amalgamated Financial Corp. has a 52 week low of $25.03 and a 52 week high of $38.19. The company has a market capitalization of $828.33 million, a P/E ratio of 8.29 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.

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

Amalgamated Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Wednesday, November 5th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, November 5th. Amalgamated Financial’s dividend payout ratio is 16.87%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Summit Securities Group LLC purchased a new position in shares of Amalgamated Financial during the 1st quarter valued at $26,000. Osaic Holdings Inc. lifted 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 during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Amalgamated Financial during the 3rd quarter valued at $33,000. Signaturefd LLC lifted 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 during the last quarter. Finally, Virtus Advisers LLC purchased a new position in shares of Amalgamated Financial during the 1st quarter valued at $51,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AMAL shares. Piper Sandler downgraded Amalgamated Financial from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $34.00 to $27.00 in a research note on Tuesday, August 5th. Weiss Ratings restated a “hold (c)” rating on shares of Amalgamated Financial in a research note on Thursday. One equities 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 company’s stock. According to data from MarketBeat, the stock currently 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.