Amalgamated Financial (NASDAQ:AMAL) Insider Edgar Romney, Jr. Sells 5,992 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) insider Edgar Romney, Jr. sold 5,992 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $47.46, for a total transaction of $284,380.32. Following the transaction, the insider owned 22,393 shares in the company, valued at approximately $1,062,771.78. The trade was a 21.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amalgamated Financial Trading Down 1.3%

NASDAQ AMAL opened at $47.87 on Friday. Amalgamated Financial Corp. has a one year low of $25.13 and a one year high of $51.59. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.63 and a current ratio of 0.64. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 12.77 and a beta of 0.79. The company’s 50-day simple moving average is $48.58 and its two-hundred day simple moving average is $43.77.

Amalgamated Financial (NASDAQ:AMAL) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.10. Amalgamated Financial had a net margin of 23.34% and a return on equity of 14.30%. The firm had revenue of $96.10 million during the quarter, compared to analysts’ expectations of $92.09 million. Equities analysts forecast that Amalgamated Financial Corp. will post 4.06 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Tuesday, August 4th were issued a dividend of $0.17 per share. The ex-dividend date was Tuesday, August 4th. This represents a $0.68 dividend on an annualized basis and a yield of 1.4%. Amalgamated Financial’s dividend payout ratio is currently 18.13%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMAL. Raymond James Financial began coverage on Amalgamated Financial in a report on Thursday, September 3rd. They issued an “outperform” rating and a $55.00 price target on the stock. Keefe, Bruyette & Woods upped their price objective on Amalgamated Financial from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Zacks Research raised Amalgamated Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Piper Sandler lifted their target price on Amalgamated Financial from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Amalgamated Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Institutional Investors Weigh In On Amalgamated Financial

A number of large investors have recently modified their holdings of AMAL. Quadrant Capital Group LLC grew its stake in shares of Amalgamated Financial by 11.0% during the fourth quarter. Quadrant Capital Group LLC now owns 3,136 shares of the company’s stock worth $100,000 after acquiring an additional 312 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Amalgamated Financial by 3.4% in the 3rd quarter. Intech Investment Management LLC now owns 11,628 shares of the company’s stock valued at $316,000 after purchasing an additional 383 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of Amalgamated Financial by 56.7% in the 2nd quarter. Osaic Holdings Inc. now owns 1,080 shares of the company’s stock valued at $34,000 after purchasing an additional 391 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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 worth $306,000 after purchasing an additional 468 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in Amalgamated Financial in the 2nd quarter worth approximately $30,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Key Amalgamated Financial News

Here are the key news stories impacting Amalgamated Financial this week:

• Positive Sentiment: Amalgamated Financial’s latest reported quarter showed solid operating momentum: earnings per share came in at $1.10 versus the $1.00 consensus estimate, while revenue of $96.1 million exceeded expectations of $92.09 million.
• Positive Sentiment: Analyst sentiment remains constructive. The consensus rating is “Moderate Buy” with a $54 price target; Raymond James initiated coverage with an “outperform” rating and a $55 target, while Keefe, Bruyette & Woods raised its target to $54.
• Positive Sentiment: The company maintains a quarterly dividend of $0.17, or $0.68 annualized, representing a yield of approximately 1.4% and a payout ratio of about 18%.
• Neutral Sentiment: Reported short interest was zero shares, producing a zero-day short-interest ratio. The unchanged reading provides little useful information about current trading pressure.
• Negative Sentiment: Major shareholders United Workers and States Regional Joint Western each reported selling 79,649 AMAL shares at an average price of approximately $47.91, reducing their reported positions by about 40%. The combined sales represent roughly $7.6 million of potential supply. SEC major-shareholder filing
• Negative Sentiment: EVP Sam Brown sold 30,000 shares for approximately $1.45 million on September 8 and another 735 shares for about $35,000 on September 9. These transactions reduced his direct holdings substantially, although both were executed under a pre-arranged Rule 10b5-1 plan. SEC insider-sale filing

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.