Insider Selling: Amalgamated Financial (NASDAQ:AMAL) Director Sells $105,937.90 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) Director Maryann Bruce sold 2,138 shares of the business’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 owned 17,804 shares of the company’s stock, valued at $882,188.20. The trade was a 10.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

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

Amalgamated Financial Price Performance

Shares of Amalgamated Financial stock opened at $50.31 on Thursday. 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 Corp. has a 52-week low of $25.13 and a 52-week high of $50.92. The company has a fifty day moving average of $45.82 and a 200-day moving average of $41.91. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 13.42 and a beta of 0.79.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.10. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.49%. The business had revenue of $96.10 million during the quarter, compared to the consensus estimate of $92.09 million. Equities research analysts expect that Amalgamated Financial Corp. will post 4.06 EPS for the current year.

Amalgamated Financial Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on AMAL shares. Zacks Research raised shares of Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Weiss Ratings lowered shares of Amalgamated Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Keefe, Bruyette & Woods boosted their price target on Amalgamated Financial from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Piper Sandler upped their price target on Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.50.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Millennium Management LLC increased its holdings in Amalgamated Financial by 63.7% in the 3rd quarter. Millennium Management LLC now owns 522,598 shares of the company’s stock worth $14,189,000 after acquiring an additional 203,440 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Amalgamated Financial by 78.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 295,670 shares of the company’s stock valued at $9,470,000 after purchasing an additional 129,585 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Amalgamated Financial by 14.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 953,859 shares of the company’s stock valued at $30,552,000 after purchasing an additional 120,483 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Amalgamated Financial by 616.8% in the second quarter. First Trust Advisors LP now owns 132,681 shares of the company’s stock worth $4,140,000 after purchasing an additional 114,171 shares during the period. Finally, Credit Agricole S A bought a new position in shares of Amalgamated Financial in the third quarter worth approximately $2,839,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

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.