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 the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $41.39, for a total value of $86,463.71. Following the completion of the transaction, the director owned 19,942 shares in the company, valued at $825,399.38. This represents a 9.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Amalgamated Financial Stock Up 0.9%

Shares of AMAL stock traded up $0.40 during trading hours on Thursday, reaching $44.10. The company had a trading volume of 119,606 shares, compared to its average volume of 159,442. 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 cap of $1.32 billion, a price-to-earnings ratio of 12.82 and a beta of 0.80. The business has a fifty day simple moving average of $41.36 and a 200-day simple moving average of $37.77. Amalgamated Financial Corp. has a 12 month low of $25.13 and a 12 month high of $44.25.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.15). The business had revenue of $91.36 million for the quarter, compared to analysts’ expectations of $91.16 million. Amalgamated Financial had a net margin of 22.33% and a return on equity of 13.89%. On average, research analysts expect that Amalgamated Financial Corp. will post 3.92 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Tuesday, May 5th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, May 5th. Amalgamated Financial’s dividend payout ratio (DPR) is presently 19.77%.

Wall Street Analysts Forecast Growth

AMAL has been the subject of a number of research analyst reports. Weiss Ratings raised Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Piper Sandler increased their price target on Amalgamated Financial from $41.00 to $44.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Finally, Zacks Research downgraded Amalgamated Financial from a “hold” rating to a “strong sell” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Amalgamated Financial currently has an average rating of “Hold” and an average target price of $44.00.

Institutional Trading of Amalgamated Financial

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Amalgamated Financial by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock valued at $45,943,000 after purchasing an additional 49,037 shares in the last quarter. Versor Investments LP purchased a new position in shares of Amalgamated Financial in the fourth quarter valued at $935,000. Abacus Wealth Partners LLC purchased a new position in shares of Amalgamated Financial in the fourth quarter valued at $2,100,000. American Century Companies Inc. grew its position in shares of Amalgamated Financial by 6.7% in the third quarter. American Century Companies Inc. now owns 589,033 shares of the company’s stock valued at $15,992,000 after purchasing an additional 36,851 shares in the last quarter. Finally, Quent Capital LLC purchased a new position in shares of Amalgamated Financial in the fourth quarter valued at $659,000. 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.