Amalgamated Financial Corp. (NASDAQ:AMAL) Director Sells $148,689.31 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) Director Maryann Bruce sold 4,403 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $33.77, for a total value of $148,689.31. Following the completion of the sale, the director now directly owns 18,319 shares of the company’s stock, valued at approximately $618,632.63. This trade represents a 19.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Amalgamated Financial Trading Down 1.3 %

NASDAQ:AMAL opened at $34.14 on Friday. Amalgamated Financial Corp. has a 52-week low of $21.33 and a 52-week high of $38.19. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The stock has a fifty day simple moving average of $34.73 and a 200-day simple moving average of $33.03. The company has a market capitalization of $1.05 billion, a PE ratio of 10.04 and a beta of 0.93.

Amalgamated Financial (NASDAQ:AMAL) last announced its earnings results on Thursday, January 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Amalgamated Financial had a net margin of 24.19% and a return on equity of 16.00%. On average, equities research analysts expect that Amalgamated Financial Corp. will post 3.46 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Tuesday, February 11th. This is a boost from Amalgamated Financial’s previous quarterly dividend of $0.12. Amalgamated Financial’s dividend payout ratio is 14.12%.

Wall Street Analyst Weigh In

Several analysts recently commented on AMAL shares. Piper Sandler raised their price objective on shares of Amalgamated Financial from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods lifted their price target on shares of Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

Hedge Funds Weigh In On Amalgamated Financial

Institutional investors have recently made changes to their positions in the stock. Congress Asset Management Co. purchased a new stake in Amalgamated Financial during the 4th quarter worth about $5,339,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Amalgamated Financial by 219.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 162,047 shares of the company’s stock worth $5,083,000 after buying an additional 111,357 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Amalgamated Financial by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 567,609 shares of the company’s stock valued at $17,806,000 after buying an additional 89,444 shares during the last quarter. Figure 8 Investment Strategies LLC purchased a new position in shares of Amalgamated Financial during the fourth quarter valued at approximately $2,778,000. Finally, Barclays PLC boosted its position in Amalgamated Financial by 91.7% during the third quarter. Barclays PLC now owns 119,165 shares of the company’s stock worth $3,739,000 after acquiring an additional 57,008 shares during the last quarter. 75.93% of the stock is owned by institutional investors and hedge funds.

About Amalgamated Financial

Amalgamated Financial Corp. operates as the bank holding company for Amalgamated Bank that provides commercial and retail banking, investment management, and trust and custody services for commercial and retail customers in the United States. The company accepts various deposit products, including non-interest bearing accounts, interest-bearing demand products, savings accounts, money market accounts, NOW accounts, and certificates of deposit.