Amalgamated Financial (NASDAQ:AMAL) CAO Sells $108,775.00 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) CAO Leslie Veluswamy sold 2,500 shares of Amalgamated Financial stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $43.51, for a total value of $108,775.00. Following the completion of the transaction, the chief accounting officer owned 14,215 shares in the company, valued at $618,494.65. The trade was a 14.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Amalgamated Financial Trading Up 1.2%

Amalgamated Financial stock opened at $44.65 on Friday. 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’s 50-day simple moving average is $41.57 and its 200-day simple moving average is $37.93. The firm has a market capitalization of $1.33 billion, a PE ratio of 12.98 and a beta of 0.80. Amalgamated Financial Corp. has a 52 week low of $25.13 and a 52 week high of $45.20.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.15). Amalgamated Financial had a net margin of 22.33% and a return on equity of 13.89%. The firm had revenue of $91.36 million for the quarter, compared to the consensus estimate of $91.16 million. Equities research analysts forecast that Amalgamated Financial Corp. will post 3.92 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Tuesday, May 5th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.5%. The ex-dividend date was Tuesday, May 5th. Amalgamated Financial’s payout ratio is currently 19.77%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMAL. Zacks Research lowered Amalgamated Financial from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st. Weiss Ratings upgraded Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Finally, Piper Sandler boosted their price target on Amalgamated Financial from $41.00 to $44.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Amalgamated Financial presently has an average rating of “Hold” and an average target price of $44.00.

Institutional Investors Weigh In On Amalgamated Financial

A number of institutional investors have recently added to or reduced their stakes in AMAL. Osaic Holdings Inc. boosted its holdings in Amalgamated Financial by 56.7% during the second quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock valued at $34,000 after purchasing an additional 391 shares in the last quarter. Arax Advisory Partners boosted its holdings in Amalgamated Financial by 187.1% during 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 in the last quarter. Royal Bank of Canada boosted its holdings in Amalgamated Financial by 143.8% during 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 in the last quarter. CWM LLC boosted its holdings in Amalgamated Financial by 41.2% during the fourth quarter. CWM LLC now owns 1,880 shares of the company’s stock valued at $60,000 after purchasing an additional 549 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Amalgamated Financial by 140.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,014 shares of the company’s stock valued at $63,000 after purchasing an additional 1,177 shares in the last quarter. 75.93% of the stock is owned by institutional investors and hedge funds.

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.