Amalgamated Financial (NASDAQ:AMAL) Director Julie Kelly Sells 6,697 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) Director Julie Kelly sold 6,697 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $27.34, for a total value of $183,095.98. Following the completion of the sale, the director directly owned 16,763 shares of the company’s stock, valued at approximately $458,300.42. This represents a 28.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Amalgamated Financial Trading Up 0.9%

NASDAQ:AMAL opened at $27.51 on Tuesday. The stock has a market cap of $828.33 million, a PE ratio of 8.29 and a beta of 0.88. Amalgamated Financial Corp. has a fifty-two week low of $25.03 and a fifty-two week high of $38.19. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.64 and a quick ratio of 0.64. The stock’s 50-day moving average is $27.76 and its two-hundred day moving average is $29.35.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings results on Monday, December 19th. The company reported $0.46 earnings per share (EPS) for the quarter. Amalgamated Financial had a net margin of 22.97% and a return on equity of 14.97%. The business had revenue of $49.68 million during the quarter. As a group, equities research analysts forecast that Amalgamated Financial Corp. will post 3.65 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMAL. Piper Sandler downgraded shares of Amalgamated Financial from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $34.00 to $27.00 in a research note on Tuesday, August 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amalgamated Financial in a research report on Thursday, October 30th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Amalgamated Financial has a consensus rating of “Hold” and an average target price of $33.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Summit Securities Group LLC bought a new position in shares of Amalgamated Financial in the 1st quarter valued at approximately $26,000. Osaic Holdings Inc. grew its holdings 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 last quarter. State of Alaska Department of Revenue acquired a new position in Amalgamated Financial during the third quarter valued at approximately $33,000. Signaturefd LLC raised its position in shares of Amalgamated Financial by 110.1% in the second quarter. Signaturefd LLC now owns 1,523 shares of the company’s stock valued at $48,000 after purchasing an additional 798 shares during the period. Finally, Virtus Advisers LLC acquired a new stake in shares of Amalgamated Financial in the first quarter worth $51,000. Institutional investors and hedge funds own 75.93% of the company’s stock.

Amalgamated Financial Company Profile

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.