Amalgamated Financial Corp. (NASDAQ:AMAL) Director Sells $148,689.31 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) Director Maryann Bruce sold 4,403 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $33.77, for a total transaction of $148,689.31. Following the sale, the director now owns 18,319 shares in the company, valued at $618,632.63. This trade represents a 19.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Amalgamated Financial Stock Up 1.7 %

Amalgamated Financial stock opened at $34.60 on Thursday. The company has a fifty day simple moving average of $34.77 and a 200 day simple moving average of $33.02. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. Amalgamated Financial Corp. has a 1-year low of $21.33 and a 1-year high of $38.19. The company has a market cap of $1.06 billion, a P/E ratio of 10.18 and a beta of 0.93.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. Amalgamated Financial had a return on equity of 16.00% and a net margin of 24.19%. Research analysts anticipate that Amalgamated Financial Corp. will post 3.46 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be given a dividend of $0.14 per share. This is a positive change from Amalgamated Financial’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 1.62%. The ex-dividend date is Tuesday, February 11th. Amalgamated Financial’s dividend payout ratio is 16.23%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in Amalgamated Financial by 3.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,157,594 shares of the company’s stock valued at $31,716,000 after purchasing an additional 43,213 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Amalgamated Financial in the second quarter valued at approximately $378,000. Algert Global LLC boosted its stake in shares of Amalgamated Financial by 3.2% during the 2nd quarter. Algert Global LLC now owns 77,129 shares of the company’s stock worth $2,113,000 after acquiring an additional 2,360 shares during the period. Creative Planning acquired a new position in shares of Amalgamated Financial during the 2nd quarter worth approximately $311,000. Finally, Point72 Asset Management L.P. raised its stake in Amalgamated Financial by 49.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 11,680 shares of the company’s stock valued at $320,000 after acquiring an additional 3,880 shares during the period. Institutional investors own 75.93% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on AMAL. Keefe, Bruyette & Woods raised their price objective on shares of Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler boosted their price target on Amalgamated Financial from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th.

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.