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

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sam Brown sold 735 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $47.61, for a total value of $34,993.35. Following the completion of the sale, the executive vice president owned 25,874 shares in the company, valued at approximately $1,231,861.14. This represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amalgamated Financial Stock Performance

Amalgamated Financial stock traded up $0.69 during mid-day trading on Thursday, hitting $48.52. 175,748 shares of the company’s stock traded hands, compared to its average volume of 164,856. The firm has a 50 day moving average price of $48.49 and a 200 day moving average price of $43.69. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.45 billion, a PE ratio of 12.94 and a beta of 0.79. Amalgamated Financial Corp. has a one year low of $25.13 and a one year high of $51.59.

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

Amalgamated Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Amalgamated Financial

A number of institutional investors and hedge funds have recently bought and sold shares of AMAL. Integrated Wealth Concepts LLC bought a new position in shares of Amalgamated Financial during the 2nd quarter valued at about $30,000. Osaic Holdings Inc. lifted its stake in Amalgamated Financial by 56.7% during the second quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock valued at $34,000 after purchasing an additional 391 shares during the last quarter. Arax Advisory Partners lifted its stake in Amalgamated Financial by 187.1% during the fourth quarter. Arax Advisory Partners now owns 1,269 shares of the company’s stock valued at $41,000 after purchasing an additional 827 shares during the last quarter. Royal Bank of Canada boosted its holdings in Amalgamated Financial by 143.8% during the first quarter. Royal Bank of Canada now owns 1,485 shares of the company’s stock worth $57,000 after buying an additional 876 shares in the last quarter. Finally, Compass Financial Management LLC bought a new stake in Amalgamated Financial during the second quarter worth approximately $59,000. 75.93% of the stock is owned by institutional investors and hedge funds.

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.