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

Key Points

• Director Maryann Bruce sold 2,138 Amalgamated Financial shares at an average price of $49.55, generating $105,937.90 and reducing her stake by 10.72% to 17,804 shares.
• Amalgamated Financial reported quarterly EPS of $1.10, beating estimates by $0.10, while revenue of $96.10 million also exceeded expectations.
• The stock recently traded near its 52-week high at $49.82, and analysts maintain a consensus “Moderate Buy” rating with an average price target of $53.50; the company also declared a quarterly dividend of $0.17 per share.

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) Director Maryann Bruce sold 2,138 shares of Amalgamated Financial stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $49.55, for a total transaction of $105,937.90. Following the sale, the director owned 17,804 shares of the company's stock, valued at approximately $882,188.20. The trade was a 10.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 value of $86,463.71.

Amalgamated Financial Stock Performance

Amalgamated Financial stock traded up $0.44 during midday trading on Monday, hitting $49.82. 81,719 shares of the company were exchanged, compared to its average volume of 163,200. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.64 and a current ratio of 0.64. The business has a fifty day simple moving average of $45.32 and a two-hundred day simple moving average of $41.58. 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 capitalization of $1.49 billion, a PE ratio of 13.29 and a beta of 0.79.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.10. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.49%. The firm had revenue of $96.10 million for the quarter, compared to the consensus estimate of $92.09 million. On average, sell-side analysts forecast that Amalgamated Financial Corp. will post 4.06 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, August 20th. Stockholders of record on Tuesday, August 4th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, August 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. Amalgamated Financial's dividend payout ratio (DPR) is 18.13%.

Analysts Set New Price Targets

Several brokerages recently commented on AMAL. Zacks Research upgraded Amalgamated Financial from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 25th. Keefe, Bruyette & Woods raised their target price on Amalgamated Financial from $53.00 to $54.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Piper Sandler boosted their target price on Amalgamated Financial from $48.00 to $53.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. Finally, Weiss Ratings downgraded Amalgamated Financial from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $53.50.

Hedge Funds Weigh In On Amalgamated Financial

Hedge funds have recently made changes to their positions in the company. Millennium Management LLC raised its position in Amalgamated Financial by 63.7% in the 3rd quarter. Millennium Management LLC now owns 522,598 shares of the company's stock valued at $14,189,000 after purchasing an additional 203,440 shares during the last quarter. Goldman Sachs Group Inc. increased 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 worth $9,470,000 after purchasing an additional 129,585 shares during the period. Adage Capital Partners GP L.L.C. raised its position in Amalgamated Financial by 14.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 953,859 shares of the company's stock worth $30,552,000 after acquiring an additional 120,483 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Amalgamated Financial by 616.8% in the 2nd quarter. First Trust Advisors LP now owns 132,681 shares of the company's stock valued at $4,140,000 after purchasing an additional 114,171 shares in the last quarter. Finally, Credit Agricole S A acquired a new stake in shares of Amalgamated Financial during the 3rd quarter valued at approximately $2,839,000. Hedge funds and other institutional investors own 75.93% of the company's stock.

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.

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