Julie Kelly Sells 6,697 Shares of Amalgamated Financial (NASDAQ:AMAL) Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) Director Julie Kelly sold 6,697 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $27.34, for a total value of $183,095.98. Following the completion of the sale, the director directly owned 16,763 shares of the company’s stock, valued at $458,300.42. This represents a 28.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Amalgamated Financial Stock Performance

NASDAQ:AMAL opened at $27.40 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.64 and a quick ratio of 0.64. The business has a fifty day simple moving average of $27.71 and a two-hundred day simple moving average of $29.36. Amalgamated Financial Corp. has a 1 year low of $25.03 and a 1 year high of $38.19. The company has a market capitalization of $825.01 million, a P/E ratio of 8.25 and a beta of 0.88.

Amalgamated Financial (NASDAQ:AMAL) last released its earnings results on Monday, December 19th. The company reported $0.46 earnings per share (EPS) for the quarter. Amalgamated Financial had a return on equity of 14.97% and a net margin of 22.97%.The business had revenue of $49.68 million during the quarter. On average, analysts expect that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Wednesday, November 5th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, November 5th. Amalgamated Financial’s dividend payout ratio (DPR) is presently 16.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AMAL shares. Piper Sandler lowered Amalgamated Financial from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $34.00 to $27.00 in a report on Tuesday, August 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amalgamated Financial in a report on Thursday, October 30th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.00.

Institutional Investors Weigh In On Amalgamated Financial

Several large investors have recently added to or reduced their stakes in the business. Harrington Investments INC boosted its stake in Amalgamated Financial by 0.4% during the second quarter. Harrington Investments INC now owns 80,510 shares of the company’s stock valued at $2,512,000 after buying an additional 350 shares during the period. US Bancorp DE boosted its stake in Amalgamated Financial by 12.9% during the first quarter. US Bancorp DE now owns 3,343 shares of the company’s stock valued at $96,000 after buying an additional 381 shares during the period. Osaic Holdings Inc. boosted its stake 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 buying an additional 391 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Amalgamated Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,654 shares of the company’s stock valued at $306,000 after buying an additional 468 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in Amalgamated Financial by 7.9% during the first quarter. New York State Common Retirement Fund now owns 6,811 shares of the company’s stock valued at $196,000 after buying an additional 500 shares during the period. Institutional investors own 75.93% of the company’s stock.

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.