Insider Selling: Amalgamated Financial (NASDAQ:AMAL) Director Sells $154,080.00 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) Director Maryann Bruce sold 3,000 shares of Amalgamated Financial stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $51.36, for a total transaction of $154,080.00. Following the completion of the transaction, the director owned 14,804 shares in the company, valued at $760,333.44. This trade represents a 16.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Amalgamated Financial Stock Down 0.2%

Amalgamated Financial stock opened at $50.10 on Thursday. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 12.46 and a beta of 0.76. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.63 and a quick ratio of 0.63. Amalgamated Financial Corp. has a fifty-two week low of $26.61 and a fifty-two week high of $52.30. The firm has a fifty day moving average price of $48.37 and a two-hundred day moving average price of $44.41.

Amalgamated Financial (NASDAQ:AMAL) last released its quarterly earnings results on Thursday, October 22nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The company had revenue of $99.17 million during the quarter, compared to analysts’ expectations of $99.26 million. Amalgamated Financial had a net margin of 24.57% and a return on equity of 14.91%. As a group, analysts forecast that Amalgamated Financial Corp. will post 4.13 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 19th. Investors of record on Tuesday, November 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, November 3rd. Amalgamated Financial’s payout ratio is currently 16.71%.

Institutional Trading of Amalgamated Financial

A number of hedge funds have recently bought and sold shares of the stock. Figure 8 Investment Strategies LLC raised its position in shares of Amalgamated Financial by 1.6% during the third quarter. Figure 8 Investment Strategies LLC now owns 68,418 shares of the company’s stock valued at $3,255,000 after buying an additional 1,110 shares during the last quarter. Trillium Asset Management LLC acquired a new stake in Amalgamated Financial during the third quarter worth about $1,685,000. R Squared Ltd grew its position in Amalgamated Financial by 13.1% during the third quarter. R Squared Ltd now owns 16,214 shares of the company’s stock worth $771,000 after buying an additional 1,880 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Amalgamated Financial by 4.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 17,835 shares of the company’s stock valued at $853,000 after acquiring an additional 751 shares during the period. Finally, Ethic Inc. increased its stake in Amalgamated Financial by 217.4% during the third quarter. Ethic Inc. now owns 30,799 shares of the company’s stock valued at $1,465,000 after acquiring an additional 21,094 shares during the period. 75.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Piper Sandler increased their target price on Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods lifted their price target on Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Raymond James Financial initiated coverage on Amalgamated Financial in a research report on Thursday, September 3rd. They issued an “outperform” rating and a $55.00 price target on the stock. Finally, Weiss Ratings upgraded Amalgamated Financial from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, November 4th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Amalgamated Financial has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

About Amalgamated Financial

Amalgamated Financial Corp. is the bank holding company for Amalgamated Bank, a full-service commercial bank headquartered in New York City. Founded in 1923 by the Amalgamated Clothing Workers of America, the bank has a long history of serving labor organizations and working people. The bank provides commercial and consumer banking services, including deposit accounts, lending, cash management and online banking. Its clients include businesses, nonprofit organizations, labor unions, political and advocacy groups, and individuals, with a particular focus on organizations connected to social and economic causes.