Amalgamated Financial (NASDAQ:AMAL) Director Maryann Bruce Sells 2,089 Shares

Amalgamated Financial Corp. (NASDAQ:AMAL) Director Maryann Bruce sold 2,089 shares of Amalgamated Financial stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $41.39, for a total value of $86,463.71. Following the completion of the transaction, the director owned 19,942 shares of the company’s stock, valued at approximately $825,399.38. This trade represents a 9.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Amalgamated Financial Stock Performance

Shares of NASDAQ AMAL traded up $0.40 during mid-day trading on Thursday, hitting $44.10. The company had a trading volume of 119,606 shares, compared to its average volume of 159,442. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 12.82 and a beta of 0.80. Amalgamated Financial Corp. has a 1 year low of $25.13 and a 1 year high of $44.25. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.09. The stock’s 50-day moving average price is $41.36 and its 200-day moving average price is $37.77.

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

Amalgamated Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Tuesday, May 5th were given 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 presently 19.77%.

Analyst Ratings Changes

Several equities analysts recently commented on AMAL shares. Zacks Research cut Amalgamated Financial from a “hold” rating to a “strong sell” rating in a research report on Friday, May 1st. Weiss Ratings upgraded Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Finally, Piper Sandler boosted their target price on Amalgamated Financial from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amalgamated Financial currently has an average rating of “Hold” and a consensus target price of $44.00.

Institutional Investors Weigh In On Amalgamated Financial

A number of hedge funds and other institutional investors have recently modified their holdings of AMAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Amalgamated Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock valued at $306,000 after acquiring an additional 468 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Amalgamated Financial by 17.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,110 shares of the company’s stock valued at $1,872,000 after acquiring an additional 9,500 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Amalgamated Financial by 373.1% in the 1st quarter. Jane Street Group LLC now owns 44,284 shares of the company’s stock valued at $1,273,000 after acquiring an additional 34,923 shares during the last quarter. Legal & General Group Plc raised its position in Amalgamated Financial by 11.6% during the 2nd quarter. Legal & General Group Plc now owns 21,476 shares of the company’s stock valued at $670,000 after purchasing an additional 2,231 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Amalgamated Financial by 27.9% during the 2nd quarter. Rhumbline Advisers now owns 35,442 shares of the company’s stock valued at $1,106,000 after purchasing an additional 7,741 shares during the last quarter. Institutional investors own 75.93% of the company’s stock.

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.