Amalgamated Financial (NASDAQ:AMAL) Director Maryann Bruce Sells 2,138 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) Director Maryann Bruce sold 2,138 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $49.55, for a total value of $105,937.90. Following the completion of the sale, the director directly owned 17,804 shares of the company’s stock, valued at approximately $882,188.20. This represents a 10.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Maryann Bruce also recently made the following trade(s):

• On Wednesday, June 10th, Maryann Bruce sold 2,089 shares of Amalgamated Financial stock. The stock was sold at an average price of $41.39, for a total transaction of $86,463.71.

Amalgamated Financial Trading Up 0.5%

Shares of AMAL opened at $49.63 on Tuesday. Amalgamated Financial Corp. has a fifty-two week low of $25.13 and a fifty-two week high of $50.92. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 13.23 and a beta of 0.79. The firm has a 50 day moving average price of $45.49 and a 200-day moving average price of $41.69. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.64 and a current ratio of 0.64.

Amalgamated Financial (NASDAQ:AMAL) last released its earnings results on Thursday, July 23rd. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.00 by $0.10. The company had revenue of $96.10 million for 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 14.49%. As a group, equities research analysts forecast that Amalgamated Financial Corp. will post 4.06 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Tuesday, August 4th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 4th. Amalgamated Financial’s payout ratio is 18.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AMAL shares. Weiss Ratings cut Amalgamated Financial from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Piper Sandler lifted their target price on shares of Amalgamated Financial from $48.00 to $53.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods upped their price target 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, Zacks Research raised shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC increased its position in shares of Amalgamated Financial by 63.7% during the third quarter. Millennium Management LLC now owns 522,598 shares of the company’s stock valued at $14,189,000 after buying an additional 203,440 shares during the period. Goldman Sachs Group Inc. lifted its position in 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 acquiring an additional 129,585 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in 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 acquiring an additional 120,483 shares during the period. First Trust Advisors LP boosted its stake in Amalgamated Financial by 616.8% during the second quarter. First Trust Advisors LP now owns 132,681 shares of the company’s stock worth $4,140,000 after acquiring an additional 114,171 shares in the last quarter. Finally, Credit Agricole S A bought a new stake in Amalgamated Financial during the third quarter worth 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.