Amalgamated Financial (NASDAQ:AMAL) EVP Sam Brown Sells 735 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sam Brown sold 735 shares of Amalgamated Financial stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $47.61, for a total transaction of $34,993.35. Following the completion of the transaction, the executive vice president directly owned 25,874 shares of the company’s stock, valued at $1,231,861.14. The trade was a 2.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amalgamated Financial Trading Up 1.4%

Shares of Amalgamated Financial stock opened at $48.52 on Friday. The firm has a 50-day simple moving average of $48.54 and a two-hundred day simple moving average of $43.74. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.63 and a current ratio of 0.64. Amalgamated Financial Corp. has a fifty-two week low of $25.13 and a fifty-two week high of $51.59. The company has a market cap of $1.45 billion, a P/E ratio of 12.94 and a beta of 0.79.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. The firm had revenue of $96.10 million during the quarter, compared to analyst estimates of $92.09 million. Amalgamated Financial had a return on equity of 14.30% and a net margin of 23.34%. As a group, equities analysts predict that Amalgamated Financial Corp. will post 4.06 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Tuesday, August 4th were issued 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 dividend payout ratio (DPR) is presently 18.13%.

Analyst Ratings Changes

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

Amalgamated Financial News Summary

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

• Positive Sentiment: Amalgamated Financial’s latest quarterly earnings exceeded expectations, with earnings per share of $1.10 versus the $1.00 consensus estimate and revenue of $96.1 million versus the $92.09 million forecast. Analysts expect approximately $4.06 in full-year EPS.
• Positive Sentiment: Analyst sentiment remains favorable. The consensus rating is “Moderate Buy” with a $54 target price, while Raymond James initiated coverage with an “outperform” rating and a $55 price objective. Keefe, Bruyette & Woods also raised its target to $54.
• Positive Sentiment: The company continues to pay a quarterly dividend of $0.17, equivalent to $0.68 annually and a yield of about 1.4%.
• Neutral Sentiment: Reported short interest was listed as zero shares with a zero-day short ratio. Because the data showed no change and an invalid percentage calculation, it provides little useful information about trading pressure.
• 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. Both transactions were executed under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by roughly 53% and 2.8%, respectively. SEC insider-sale filing
• Negative Sentiment: Major shareholder States Regional Joint Western sold 42,910 shares for approximately $2.08 million on September 8, following several additional sales in late August and early September. The repeated disposals represent millions of dollars in selling and may raise concerns about concentrated-holder supply, even though they do not indicate deteriorating company results. Major shareholder sale report

Institutional Investors Weigh In On Amalgamated Financial

Several hedge funds and other institutional investors have recently made changes to their positions in AMAL. BlackRock Inc. purchased a new position in Amalgamated Financial during the 2nd quarter worth $156,331,000. California State Teachers Retirement System lifted its position in Amalgamated Financial by 4,999.4% during the 2nd quarter. California State Teachers Retirement System now owns 837,124 shares of the company’s stock worth $38,424,000 after acquiring an additional 820,708 shares during the period. Millennium Management LLC lifted its position in Amalgamated Financial by 63.7% during the 3rd quarter. Millennium Management LLC now owns 522,598 shares of the company’s stock worth $14,189,000 after acquiring an additional 203,440 shares during the period. Bank of America Corp DE purchased a new position in shares of Amalgamated Financial in the 2nd quarter valued at approximately $7,771,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Amalgamated Financial in the 2nd quarter valued at approximately $6,931,000. Institutional investors and hedge funds own 75.93% of the company’s stock.

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.