Amalgamated Financial (NASDAQ:AMAL) Director Maryann Bruce Sells 3,000 Shares of Company Stock

Key Points

• Director Maryann Bruce sold 3,000 shares at an average $51.36, totaling $154,080; she retained 14,804 shares after the sale.
• Amalgamated Financial reported quarterly EPS of $1.14, beating the $1.08 consensus, while revenue of $99.17 million was slightly below estimates.
• The company announced a quarterly dividend of $0.17 per share, equivalent to a 1.3% annualized yield. Analysts’ average rating is “Moderate Buy,” with a $54 consensus price target.

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) Director Maryann Bruce sold 3,000 shares of Amalgamated Financial stock in a transaction 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 owned 14,804 shares of the company's stock, valued at approximately $760,333.44. This trade represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Amalgamated Financial Trading Up 2.0%

Shares of NASDAQ AMAL traded up $0.97 during mid-day trading on Monday, reaching $50.53. The company had a trading volume of 150,357 shares, compared to its average volume of 182,824. The business's 50-day moving average is $48.24 and its 200-day moving average is $44.21. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 12.42 and a beta of 0.75. Amalgamated Financial Corp. has a 52 week low of $26.61 and a 52 week high of $52.30.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.06. The company had revenue of $99.17 million during the quarter, compared to analyst estimates of $99.26 million. Amalgamated Financial had a net margin of 24.57% and a return on equity of 14.91%. Equities analysts expect that Amalgamated Financial Corp. will post 4.13 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Tuesday, November 3rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.3%. Amalgamated Financial's payout ratio is 16.71%.

Hedge Funds Weigh In On Amalgamated Financial

Large investors have recently bought and sold shares of the business. Trillium Asset Management LLC purchased a new position in shares of Amalgamated Financial in the 3rd quarter valued at $1,685,000. R Squared Ltd lifted its stake in shares of Amalgamated Financial by 13.1% during the 3rd quarter. R Squared Ltd now owns 16,214 shares of the company's stock worth $771,000 after purchasing an additional 1,880 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Amalgamated Financial by 4.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 17,835 shares of the company's stock worth $853,000 after purchasing an additional 751 shares during the last quarter. Ethic Inc. lifted its stake in shares of Amalgamated Financial by 217.4% during the 3rd quarter. Ethic Inc. now owns 30,799 shares of the company's stock worth $1,465,000 after purchasing an additional 21,094 shares during the last quarter. Finally, Abacus Wealth Partners LLC boosted its position in Amalgamated Financial by 6.9% during the third quarter. Abacus Wealth Partners LLC now owns 47,487 shares of the company's stock valued at $2,259,000 after purchasing an additional 3,081 shares in the last quarter. Institutional investors own 75.93% of the company's stock.

Analyst Ratings Changes

AMAL has been the topic of a number of recent research reports. Piper Sandler increased their price target on Amalgamated Financial from $48.00 to $53.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods lifted their price objective on Amalgamated Financial from $53.00 to $54.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Raymond James Financial started coverage on shares of Amalgamated Financial in a research note on Thursday, September 3rd. They issued an "outperform" rating and a $55.00 price objective for the company. Finally, Weiss Ratings upgraded shares of Amalgamated Financial from a "buy (b)" rating to a "buy (b+)" rating in a report on Wednesday, November 4th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Amalgamated Financial currently has an average rating of "Moderate Buy" and a consensus target price of $54.00.

About Amalgamated Financial

Amalgamated Financial Corporation NASDAQ: AMAL is the parent company of Amalgamated Bank, a commercial bank that provides banking, lending and financial services to businesses, nonprofit organizations, labor unions, political organizations and individual consumers. The bank is known for serving mission-driven and socially responsible organizations, as well as customers seeking conventional banking products.

Amalgamated Bank offers commercial and consumer deposits, commercial and real estate lending, treasury management, online and mobile banking, payment services, and investment management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.