Amalgamated Financial (NASDAQ:AMAL) EVP Sam Brown Sells 30,000 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sam Brown sold 30,000 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $48.42, for a total value of $1,452,600.00. Following the completion of the transaction, the executive vice president directly owned 26,609 shares of the company’s stock, valued at approximately $1,288,407.78. The trade was a 53.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amalgamated Financial Stock Performance

Shares of NASDAQ AMAL traded up $0.69 during midday trading on Thursday, reaching $48.52. 175,748 shares of the company traded hands, compared to its average volume of 164,856. Amalgamated Financial Corp. has a 52 week low of $25.13 and a 52 week high of $51.59. The stock has a 50-day moving average price of $48.49 and a 200 day moving average price of $43.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.64 and a quick ratio of 0.63. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 12.94 and a beta of 0.79.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 23.34% and a return on equity of 14.30%. Sell-side analysts anticipate that Amalgamated Financial Corp. will post 4.06 earnings per share for the current fiscal year.

Amalgamated Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Tuesday, August 4th were issued a $0.17 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. Amalgamated Financial’s dividend payout ratio (DPR) is 18.13%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Raymond James Financial assumed coverage on Amalgamated Financial in a report on Thursday, September 3rd. They set an “outperform” rating and a $55.00 target price on the stock. Zacks Research upgraded Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Weiss Ratings raised Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods upped their price objective on Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Piper Sandler raised their target price on Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Institutional Trading of Amalgamated Financial

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Amalgamated Financial in the second quarter worth approximately $156,331,000. Vanguard Group Inc. lifted its position in shares of Amalgamated Financial by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 1,434,372 shares of the company’s stock valued at $45,943,000 after acquiring an additional 49,037 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Amalgamated Financial by 4.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,407,173 shares of the company’s stock worth $38,205,000 after acquiring an additional 54,885 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 worth $30,552,000 after acquiring an additional 120,483 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of Amalgamated Financial by 4,999.4% in 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 last quarter. 75.93% of the stock is currently owned by 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.