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

Amalgamated Financial Corp. (NASDAQ:AMAL) Director Maryann Bruce sold 2,089 shares of Amalgamated Financial stock in a transaction on 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 owned 19,942 shares of the company’s stock, valued at approximately $825,399.38. This trade represents a 9.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Amalgamated Financial Price Performance

Shares of AMAL stock opened at $44.10 on Friday. Amalgamated Financial Corp. has a fifty-two week low of $25.13 and a fifty-two week high of $44.25. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 12.82 and a beta of 0.80. 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 stock’s 50-day simple moving average is $41.46 and its 200-day simple moving average is $37.88.

Amalgamated Financial (NASDAQ:AMAL) last issued its 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). Amalgamated Financial had a net margin of 22.33% and a return on equity of 13.89%. The firm had revenue of $91.36 million during the quarter, compared to analysts’ expectations of $91.16 million. As a group, equities analysts forecast that Amalgamated Financial Corp. will post 3.92 earnings per share for the current fiscal year.

Amalgamated Financial Dividend Announcement

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

Analysts Set New Price Targets

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

Institutional Trading of Amalgamated Financial

Several large investors have recently added to or reduced their stakes in AMAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Amalgamated Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock worth $306,000 after purchasing an additional 468 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Amalgamated Financial by 17.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,110 shares of the company’s stock worth $1,872,000 after acquiring an additional 9,500 shares in the last quarter. Jane Street Group LLC lifted its stake in Amalgamated Financial by 373.1% during the 1st quarter. Jane Street Group LLC now owns 44,284 shares of the company’s stock worth $1,273,000 after acquiring an additional 34,923 shares in the last quarter. Legal & General Group Plc lifted its stake in Amalgamated Financial by 11.6% during the 2nd quarter. Legal & General Group Plc now owns 21,476 shares of the company’s stock worth $670,000 after acquiring an additional 2,231 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Amalgamated Financial by 27.9% in the 2nd quarter. Rhumbline Advisers now owns 35,442 shares of the company’s stock valued at $1,106,000 after purchasing an additional 7,741 shares in the last quarter. 75.93% of the stock is currently 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.