Amalgamated Financial (NASDAQ:AMAL) CAO Sells $108,775.00 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) CAO Leslie Veluswamy sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $43.51, for a total transaction of $108,775.00. Following the sale, the chief accounting officer owned 14,215 shares in the company, valued at $618,494.65. The trade was a 14.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Amalgamated Financial Stock Performance

Shares of AMAL stock traded up $0.40 during trading on Thursday, reaching $44.10. 119,606 shares of the company’s stock traded hands, compared to its average volume of 159,442. The company has a market capitalization of $1.32 billion, a P/E ratio of 12.82 and a beta of 0.80. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.09. The firm’s 50-day moving average is $41.36 and its 200 day moving average is $37.77. Amalgamated Financial Corp. has a 1 year low of $25.13 and a 1 year high of $44.25.

Amalgamated Financial (NASDAQ:AMAL) last posted its earnings results 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 research analysts expect that Amalgamated Financial Corp. will post 3.92 EPS for the current year.

Amalgamated Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Tuesday, May 5th were paid a $0.17 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $0.68 annualized dividend and a yield of 1.5%. Amalgamated Financial’s dividend payout ratio is currently 19.77%.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMAL. 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. Zacks Research cut shares of Amalgamated Financial from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st. Finally, Piper Sandler increased their target price on shares of Amalgamated Financial from $41.00 to $44.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $44.00.

Hedge Funds Weigh In On Amalgamated Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC grew its holdings in Amalgamated Financial by 63.7% in 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 last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Amalgamated Financial by 78.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 295,670 shares of the company’s stock valued at $9,470,000 after purchasing an additional 129,585 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Amalgamated Financial by 14.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 953,859 shares of the company’s stock valued at $30,552,000 after purchasing an additional 120,483 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Amalgamated Financial by 616.8% during the 2nd quarter. First Trust Advisors LP now owns 132,681 shares of the company’s stock valued at $4,140,000 after purchasing an additional 114,171 shares in the last quarter. Finally, Credit Agricole S A bought a new stake in shares of Amalgamated Financial during the 3rd quarter valued at about $2,839,000. Institutional investors own 75.93% of the company’s stock.

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.