Leslie Veluswamy Sells 2,500 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) CAO Leslie Veluswamy sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $43.51, for a total transaction of $108,775.00. Following the completion of the transaction, the chief accounting officer directly owned 14,215 shares in the company, valued at $618,494.65. This trade represents a 14.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Amalgamated Financial Price Performance

Shares of AMAL stock opened at $44.65 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $1.33 billion, a PE ratio of 12.98 and a beta of 0.80. The firm’s 50-day moving average is $41.57 and its two-hundred day moving average is $37.93. Amalgamated Financial Corp. has a 12 month low of $25.13 and a 12 month high of $45.20.

Amalgamated Financial (NASDAQ:AMAL) last posted its earnings results on Thursday, April 23rd. The company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.15). The firm had revenue of $91.36 million during the quarter, compared to analyst estimates of $91.16 million. Amalgamated Financial had a net margin of 22.33% and a return on equity of 13.89%. Analysts predict that Amalgamated Financial Corp. will post 3.92 earnings per share for the current year.

Amalgamated Financial Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AMAL shares. Piper Sandler upped their target price on shares of Amalgamated Financial from $41.00 to $44.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Zacks Research downgraded shares of Amalgamated Financial from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st. Finally, Weiss Ratings raised shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $44.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC boosted its stake in Amalgamated Financial by 11.0% during the 4th quarter. Quadrant Capital Group LLC now owns 3,136 shares of the company’s stock worth $100,000 after purchasing an additional 312 shares during the period. Intech Investment Management LLC boosted its stake in Amalgamated Financial by 3.4% during the 3rd quarter. Intech Investment Management LLC now owns 11,628 shares of the company’s stock worth $316,000 after purchasing an additional 383 shares during the period. Osaic Holdings Inc. boosted its stake in Amalgamated Financial by 56.7% during the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock worth $34,000 after purchasing an additional 391 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Amalgamated Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock worth $306,000 after purchasing an additional 468 shares during the period. Finally, CWM LLC boosted its stake in Amalgamated Financial by 41.2% during the 4th quarter. CWM LLC now owns 1,880 shares of the company’s stock worth $60,000 after purchasing an additional 549 shares during the period. 75.93% of the stock is owned by hedge funds and other institutional investors.

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.