Amalgamated Financial (NASDAQ:AMAL) Director Julie Kelly Sells 6,697 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) Director Julie Kelly sold 6,697 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $27.34, for a total transaction of $183,095.98. Following the completion of the sale, the director directly owned 16,763 shares in the company, valued at approximately $458,300.42. This trade represents a 28.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Amalgamated Financial Stock Performance

Shares of AMAL stock traded up $0.25 during trading hours on Monday, reaching $27.51. The stock had a trading volume of 135,417 shares, compared to its average volume of 175,024. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.64 and a quick ratio of 0.64. Amalgamated Financial Corp. has a twelve month low of $25.03 and a twelve month high of $38.19. The firm has a 50-day simple moving average of $27.76 and a 200-day simple moving average of $29.35. The firm has a market capitalization of $828.33 million, a PE ratio of 8.29 and a beta of 0.88.

Amalgamated Financial (NASDAQ:AMAL) last released its earnings results on Monday, December 19th. The company reported $0.46 EPS for the quarter. The firm had revenue of $49.68 million for the quarter. Amalgamated Financial had a net margin of 22.97% and a return on equity of 14.97%. As a group, equities analysts forecast that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Wednesday, November 5th will be given a dividend of $0.14 per share. The ex-dividend date is Wednesday, November 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.0%. Amalgamated Financial’s dividend payout ratio (DPR) is 16.87%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AMAL shares. Piper Sandler lowered shares of Amalgamated Financial from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $34.00 to $27.00 in a research report on Tuesday, August 5th. Weiss Ratings restated a “hold (c)” rating on shares of Amalgamated Financial in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $33.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Summit Securities Group LLC acquired a new position in shares of Amalgamated Financial in the first quarter worth about $26,000. State of Alaska Department of Revenue acquired a new stake in shares of Amalgamated Financial during the third quarter worth approximately $33,000. Osaic Holdings Inc. boosted its holdings in shares of Amalgamated Financial by 56.7% during the second quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock worth $34,000 after purchasing an additional 391 shares during the period. Signaturefd LLC boosted its holdings in shares of Amalgamated Financial by 110.1% during the second quarter. Signaturefd LLC now owns 1,523 shares of the company’s stock worth $48,000 after purchasing an additional 798 shares during the period. Finally, Virtus Advisers LLC acquired a new stake in shares of Amalgamated Financial during the first quarter worth approximately $51,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

About Amalgamated Financial

Amalgamated Financial Corp. operates as the bank holding company for Amalgamated Bank that provides commercial and retail banking, investment management, and trust and custody services for commercial and retail customers in the United States. The company accepts various deposit products, including non-interest bearing accounts, interest-bearing demand products, savings accounts, money market accounts, NOW accounts, and certificates of deposit.