Sam Brown Sells 30,000 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sam Brown sold 30,000 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $48.42, for a total value of $1,452,600.00. Following the completion of the sale, the executive vice president owned 26,609 shares in the company, valued at approximately $1,288,407.78. The trade was a 53.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amalgamated Financial Stock Down 1.3%

NASDAQ:AMAL opened at $47.87 on Friday. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 12.77 and a beta of 0.79. Amalgamated Financial Corp. has a twelve month low of $25.13 and a twelve month high of $51.59. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $48.58 and a 200-day simple moving average of $43.77.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $96.10 million for the quarter, compared to analysts’ expectations of $92.09 million. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. Analysts anticipate that Amalgamated Financial Corp. will post 4.06 EPS for the current year.

Amalgamated Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Tuesday, August 4th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 4th. Amalgamated Financial’s payout ratio is 18.13%.

Analysts Set New Price Targets

Several research firms have recently weighed in on AMAL. Weiss Ratings raised shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Piper Sandler raised their price objective on Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Keefe, Bruyette & Woods lifted their target price on Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Zacks Research upgraded Amalgamated Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. Finally, Raymond James Financial assumed coverage on Amalgamated Financial in a report on Thursday, September 3rd. They issued an “outperform” rating and a $55.00 target price for the company. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Trending Headlines about Amalgamated Financial

Here are the key news stories impacting Amalgamated Financial this week:

• Positive Sentiment: Amalgamated Financial’s latest reported quarter showed solid operating momentum: earnings per share came in at $1.10 versus the $1.00 consensus estimate, while revenue of $96.1 million exceeded expectations of $92.09 million.
• Positive Sentiment: Analyst sentiment remains constructive. The consensus rating is “Moderate Buy” with a $54 price target; Raymond James initiated coverage with an “outperform” rating and a $55 target, while Keefe, Bruyette & Woods raised its target to $54.
• Positive Sentiment: The company maintains a quarterly dividend of $0.17, or $0.68 annualized, representing a yield of approximately 1.4% and a payout ratio of about 18%.
• Neutral Sentiment: Reported short interest was zero shares, producing a zero-day short-interest ratio. The unchanged reading provides little useful information about current trading pressure.
• Negative Sentiment: Major shareholders United Workers and States Regional Joint Western each reported selling 79,649 AMAL shares at an average price of approximately $47.91, reducing their reported positions by about 40%. The combined sales represent roughly $7.6 million of potential supply. SEC major-shareholder filing
• Negative Sentiment: EVP Sam Brown sold 30,000 shares for approximately $1.45 million on September 8 and another 735 shares for about $35,000 on September 9. These transactions reduced his direct holdings substantially, although both were executed under a pre-arranged Rule 10b5-1 plan. SEC insider-sale filing

Hedge Funds Weigh In On Amalgamated Financial

Large investors have recently made changes to their positions in the business. Hsbc Holdings PLC acquired a new position in Amalgamated Financial during the 2nd quarter valued at about $2,259,000. Empowered Funds LLC purchased a new stake in shares of Amalgamated Financial during the second quarter worth about $6,459,000. Vanguard Group Inc. grew its stake in shares of Amalgamated Financial by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock worth $45,943,000 after acquiring an additional 49,037 shares during the last quarter. Versor Investments LP acquired a new position in shares of Amalgamated Financial during the fourth quarter valued at about $935,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Amalgamated Financial during the second quarter valued at about $1,298,000. 75.93% of the stock is owned by institutional investors and hedge funds.

About Amalgamated Financial

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.