Insider Selling: Amalgamated Financial (NASDAQ:AMAL) Director Sells $154,080.00 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) Director Maryann Bruce sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $51.36, for a total transaction of $154,080.00. Following the completion of the sale, the director owned 14,804 shares of the company’s stock, valued at approximately $760,333.44. This trade represents a 16.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Amalgamated Financial Stock Up 2.0%

NASDAQ AMAL traded up $0.97 on Monday, hitting $50.53. The stock had a trading volume of 150,357 shares, compared to its average volume of 182,824. The business’s fifty day moving average price is $48.24 and its 200 day moving average price is $44.21. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.63 and a quick ratio of 0.63. Amalgamated Financial Corp. has a 52-week low of $26.61 and a 52-week high of $52.30. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 12.42 and a beta of 0.75.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.06. Amalgamated Financial had a return on equity of 14.91% and a net margin of 24.57%. The business had revenue of $99.17 million for the quarter, compared to the consensus estimate of $99.26 million. Equities research analysts anticipate that Amalgamated Financial Corp. will post 4.13 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Tuesday, November 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, November 3rd. Amalgamated Financial’s payout ratio is 16.71%.

Institutional Investors Weigh In On Amalgamated Financial

A number of large investors have recently made changes to their positions in AMAL. BlackRock Inc. purchased a new position in Amalgamated Financial in the 2nd quarter worth $156,331,000. Congress Asset Management Co. grew its stake in Amalgamated Financial by 22.5% during the 3rd quarter. Congress Asset Management Co. now owns 250,093 shares of the company’s stock valued at $11,897,000 after purchasing an additional 45,855 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Amalgamated Financial in the second quarter valued at about $7,771,000. Bank of New York Mellon Corp acquired a new position in shares of Amalgamated Financial in the second quarter valued at about $6,931,000. Finally, Empowered Funds LLC acquired a new position in shares of Amalgamated Financial in the second quarter valued at about $6,459,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on AMAL. Keefe, Bruyette & Woods increased their price target on Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Piper Sandler boosted their price target on Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Weiss Ratings upgraded shares of Amalgamated Financial from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, November 4th. Finally, Raymond James Financial began coverage on shares of Amalgamated Financial in a report on Thursday, September 3rd. They set an “outperform” rating and a $55.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.00.

Amalgamated Financial Company Profile

Amalgamated Financial Corporation (NASDAQ:AMAL) is the parent company of Amalgamated Bank, a commercial bank that provides banking, lending and financial services to businesses, nonprofit organizations, labor unions, political organizations and individual consumers. The bank is known for serving mission-driven and socially responsible organizations, as well as customers seeking conventional banking products.

Amalgamated Bank offers commercial and consumer deposits, commercial and real estate lending, treasury management, online and mobile banking, payment services, and investment management.