Amalgamated Financial (NASDAQ:AMAL) Stock: Insider Maryann Bruce Sells 3,000 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) Director Maryann Bruce sold 3,000 shares of Amalgamated Financial stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $51.36, for a total value of $154,080.00. Following the sale, the director directly owned 14,804 shares of the company’s stock, valued at approximately $760,333.44. The trade was a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Amalgamated Financial Stock Performance

Shares of NASDAQ AMAL opened at $50.20 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.63 and a quick ratio of 0.63. The stock’s fifty day moving average price is $48.32 and its two-hundred day moving average price is $44.35. Amalgamated Financial Corp. has a one year low of $26.61 and a one year high of $52.30. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 12.54 and a beta of 0.76.

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

Amalgamated Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Tuesday, November 3rd will be given 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, November 3rd. Amalgamated Financial’s payout ratio is presently 16.71%.

Hedge Funds Weigh In On Amalgamated Financial

Several hedge funds and other institutional investors have recently made changes to their positions in AMAL. Integrated Wealth Concepts LLC acquired a new stake in shares of Amalgamated Financial during the 2nd quarter worth approximately $30,000. Farther Finance Advisors LLC increased its stake in Amalgamated Financial by 172.0% in the third quarter. Farther Finance Advisors LLC now owns 729 shares of the company’s stock valued at $35,000 after acquiring an additional 461 shares during the last quarter. Compass Financial Management LLC bought a new position in Amalgamated Financial in the second quarter valued at approximately $59,000. Nisa Investment Advisors LLC raised its position in Amalgamated Financial by 81.9% during the third quarter. Nisa Investment Advisors LLC now owns 1,430 shares of the company’s stock valued at $68,000 after purchasing an additional 644 shares in the last quarter. Finally, State of Wyoming acquired a new position in Amalgamated Financial during the third quarter valued at approximately $71,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMAL. Raymond James Financial initiated coverage on shares of Amalgamated Financial in a research report on Thursday, September 3rd. They set an “outperform” rating and a $55.00 price target on the stock. Piper Sandler lifted their price objective 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 boosted 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, Weiss Ratings upgraded shares of Amalgamated Financial from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, November 4th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Amalgamated Financial Company Profile

Amalgamated Financial Corp. is the bank holding company for Amalgamated Bank, a full-service commercial bank headquartered in New York City. Founded in 1923 by the Amalgamated Clothing Workers of America, the bank has a long history of serving labor organizations and working people. The bank provides commercial and consumer banking services, including deposit accounts, lending, cash management and online banking. Its clients include businesses, nonprofit organizations, labor unions, political and advocacy groups, and individuals, with a particular focus on organizations connected to social and economic causes.