Sam Brown Sells 735 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Key Points

• Executive sale: Amalgamated Financial EVP Sam Brown sold 735 shares for approximately $34,993 under a pre-arranged Rule 10b5-1 plan, reducing his holdings by 2.76% to 25,874 shares.
• Strong financial performance: The company reported quarterly earnings of $1.10 per share, beating estimates by $0.10, while revenue of $96.1 million also exceeded expectations. It declared a $0.17 quarterly dividend, equivalent to a 1.4% yield.
• Analyst outlook remains positive: Amalgamated Financial has a “Moderate Buy” consensus rating from analysts, with an average price target of $54 versus the stock’s recent price of $48.52.

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) EVP Sam Brown sold 735 shares of the company's stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $47.61, for a total transaction of $34,993.35. Following the completion of the sale, the executive vice president owned 25,874 shares in the company, valued at approximately $1,231,861.14. This trade represents a 2.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amalgamated Financial Stock Up 1.4%

Shares of AMAL stock traded up $0.69 during trading hours on Thursday, hitting $48.52. 175,748 shares of the company were exchanged, compared to its average volume of 164,856. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 12.94 and a beta of 0.79. Amalgamated Financial Corp. has a one year low of $25.13 and a one year high of $51.59. The business's 50-day simple moving average is $48.49 and its two-hundred day simple moving average is $43.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.63 and a current ratio of 0.64.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. Amalgamated Financial had a return on equity of 14.30% and a net margin of 23.34%.The firm had revenue of $96.10 million during the quarter, compared to analyst estimates of $92.09 million. Sell-side analysts predict that Amalgamated Financial Corp. will post 4.06 EPS for the current fiscal year.

Amalgamated Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Tuesday, August 4th were given a $0.17 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. Amalgamated Financial's dividend payout ratio (DPR) is presently 18.13%.

Institutional Trading of Amalgamated Financial

A number of large investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new stake in Amalgamated Financial in the 2nd quarter valued at about $30,000. Osaic Holdings Inc. grew its position in Amalgamated Financial by 56.7% in the 2nd 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 last quarter. Compass Financial Management LLC bought a new position in Amalgamated Financial in the 2nd quarter worth about $59,000. Arax Advisory Partners increased its stake in shares of Amalgamated Financial by 187.1% in the fourth quarter. Arax Advisory Partners now owns 1,269 shares of the company's stock valued at $41,000 after purchasing an additional 827 shares during the period. Finally, Royal Bank of Canada increased its stake in shares of Amalgamated Financial by 143.8% in the first quarter. Royal Bank of Canada now owns 1,485 shares of the company's stock valued at $57,000 after purchasing an additional 876 shares during the period. Institutional investors and hedge funds own 75.93% of the company's stock.

Wall Street Analysts Forecast Growth

AMAL has been the topic of several research reports. 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. Raymond James Financial initiated coverage on shares of Amalgamated Financial in a report on Thursday, September 3rd. They issued an "outperform" rating and a $55.00 price objective for the company. Keefe, Bruyette & Woods boosted their target price on shares of Amalgamated Financial from $53.00 to $54.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. Zacks Research raised shares of Amalgamated Financial from a "strong sell" rating to a "hold" rating in a report on Thursday, June 25th. Finally, Weiss Ratings upgraded shares of Amalgamated Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.00.

About Amalgamated Financial

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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