Maryann Bruce Sells 2,089 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) Director Maryann Bruce sold 2,089 shares of Amalgamated Financial stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $41.39, for a total value of $86,463.71. Following the sale, the director directly owned 19,942 shares of the company’s stock, valued at approximately $825,399.38. This represents a 9.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Amalgamated Financial Stock Up 1.2%

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

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.15). Amalgamated Financial had a return on equity of 13.89% and a net margin of 22.33%.The firm had revenue of $91.36 million during the quarter, compared to analysts’ expectations of $91.16 million. Equities analysts anticipate that Amalgamated Financial Corp. will post 3.92 EPS for the current year.

Amalgamated Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Tuesday, May 5th were paid 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 (DPR) is presently 19.77%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of AMAL. Millennium Management LLC lifted its holdings in Amalgamated Financial by 63.7% in the third quarter. Millennium Management LLC now owns 522,598 shares of the company’s stock valued at $14,189,000 after acquiring an additional 203,440 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Amalgamated Financial by 78.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 295,670 shares of the company’s stock valued at $9,470,000 after acquiring an additional 129,585 shares during the period. Adage Capital Partners GP L.L.C. lifted its holdings in Amalgamated Financial by 14.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 953,859 shares of the company’s stock valued at $30,552,000 after acquiring an additional 120,483 shares during the period. First Trust Advisors LP lifted its holdings in Amalgamated Financial by 616.8% in the second quarter. First Trust Advisors LP now owns 132,681 shares of the company’s stock valued at $4,140,000 after acquiring an additional 114,171 shares during the period. Finally, Credit Agricole S A acquired a new position in Amalgamated Financial in the third quarter valued at approximately $2,839,000. 75.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Piper Sandler upped their price objective on shares of Amalgamated Financial from $41.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Zacks Research lowered shares of Amalgamated Financial from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Amalgamated Financial has an average rating of “Hold” and an average price target of $44.00.

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.