Amalgamated Financial (NASDAQ:AMAL) Director Maryann Bruce Sells 3,000 Shares of Company Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) Director Maryann Bruce sold 3,000 shares of Amalgamated Financial stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $51.36, for a total value of $154,080.00. Following the transaction, the director owned 14,804 shares of the company’s stock, valued at approximately $760,333.44. This represents a 16.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Amalgamated Financial Stock Up 2.0%

AMAL stock opened at $50.53 on Tuesday. The firm has a market cap of $1.50 billion, a PE ratio of 12.42 and a beta of 0.76. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.63 and a current ratio of 0.63. The firm’s fifty day moving average is $48.28 and its 200 day moving average is $44.29. Amalgamated Financial Corp. has a one year low of $26.61 and a one year high of $52.30.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings data on Thursday, October 22nd. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The business had revenue of $99.17 million during the quarter, compared to analysts’ expectations of $99.26 million. Amalgamated Financial had a return on equity of 14.91% and a net margin of 24.57%. On average, research analysts forecast that Amalgamated Financial Corp. will post 4.13 EPS for the current year.

Amalgamated Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Tuesday, November 3rd will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, November 3rd. This represents a $0.68 annualized dividend and a yield of 1.3%. Amalgamated Financial’s dividend payout ratio is 16.71%.

Analyst Ratings Changes

AMAL has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Amalgamated Financial from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, November 4th. Keefe, Bruyette & Woods raised their price objective on shares of Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Piper Sandler lifted their price objective on shares of Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Finally, Raymond James Financial started coverage on shares of Amalgamated Financial in a research note on Thursday, September 3rd. They set 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Institutional Trading of Amalgamated Financial

Large investors have recently bought and sold shares of the business. Hsbc Holdings PLC acquired a new position in Amalgamated Financial during the second quarter worth about $2,259,000. Empowered Funds LLC purchased a new stake in Amalgamated Financial in the 2nd quarter valued at approximately $6,459,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Amalgamated Financial in the 2nd quarter valued at approximately $1,298,000. GSA Capital Partners LLP acquired a new stake in Amalgamated Financial during the 2nd quarter valued at $1,905,000. Finally, Avalon Trust Co purchased a new position in Amalgamated Financial during the second quarter worth $2,203,000. Institutional investors and hedge funds own 75.93% of the company’s stock.

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.

Amalgamated Bank serves customers across the United States through its banking offices and digital services.