Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sam D. Brown Sells 8,994 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sam D. Brown sold 8,994 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $25.47, for a total value of $229,077.18. Following the transaction, the executive vice president now owns 45,970 shares in the company, valued at approximately $1,170,855.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Amalgamated Financial Trading Down 1.1 %

Shares of AMAL stock opened at $25.12 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.65 and a current ratio of 0.65. Amalgamated Financial Corp. has a fifty-two week low of $14.05 and a fifty-two week high of $27.77. The company has a market cap of $766.16 million, a PE ratio of 8.21 and a beta of 0.91. The stock’s fifty day moving average price is $23.37 and its two-hundred day moving average price is $23.37.

Amalgamated Financial (NASDAQ:AMAL) last released its earnings results on Thursday, April 25th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11. The firm had revenue of $107.16 million for the quarter, compared to analysts’ expectations of $75.77 million. Amalgamated Financial had a return on equity of 16.81% and a net margin of 23.22%. During the same quarter in the previous year, the business posted $0.74 earnings per share. Equities analysts predict that Amalgamated Financial Corp. will post 3.13 EPS for the current fiscal year.

Amalgamated Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.91%. This is a boost from Amalgamated Financial’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, May 7th. Amalgamated Financial’s dividend payout ratio is currently 13.07%.

Institutional Trading of Amalgamated Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. lifted its stake in shares of Amalgamated Financial by 2.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,182,279 shares of the company’s stock valued at $37,579,000 after acquiring an additional 59,337 shares during the last quarter. Schroder Investment Management Group raised its position in Amalgamated Financial by 26.5% in the third quarter. Schroder Investment Management Group now owns 317,107 shares of the company’s stock valued at $5,461,000 after purchasing an additional 66,420 shares during the last quarter. Clean Yield Group raised its position in Amalgamated Financial by 3.5% in the fourth quarter. Clean Yield Group now owns 145,464 shares of the company’s stock valued at $3,919,000 after purchasing an additional 4,960 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Amalgamated Financial by 30.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 129,127 shares of the company’s stock valued at $3,479,000 after purchasing an additional 30,262 shares in the last quarter. Finally, Brown Advisory Inc. grew its holdings in shares of Amalgamated Financial by 3.9% during the third quarter. Brown Advisory Inc. now owns 862,875 shares of the company’s stock worth $14,859,000 after purchasing an additional 32,733 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Analyst Ratings Changes

AMAL has been the topic of several analyst reports. Keefe, Bruyette & Woods reduced their target price on Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, April 5th. JPMorgan Chase & Co. reduced their price objective on shares of Amalgamated Financial from $33.00 to $29.50 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Finally, Piper Sandler restated an “overweight” rating and issued a $29.00 target price (up from $28.00) on shares of Amalgamated Financial in a research report on Friday, April 26th.

Amalgamated Financial Company Profile

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.