Amalgamated Financial Corp. (NASDAQ:AMAL) VP Sam D. Brown Sells 938 Shares

Amalgamated Financial Corp. (NASDAQ:AMALGet Rating) VP Sam D. Brown sold 938 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $23.02, for a total transaction of $21,592.76. Following the completion of the sale, the vice president now directly owns 8,855 shares in the company, valued at $203,842.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Amalgamated Financial Price Performance

NASDAQ AMAL opened at $23.44 on Tuesday. The company has a 50 day simple moving average of $20.64 and a 200-day simple moving average of $18.70. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $723.22 million, a price-to-earnings ratio of 11.49 and a beta of 0.83. Amalgamated Financial Corp. has a 52-week low of $13.48 and a 52-week high of $23.80.

Amalgamated Financial (NASDAQ:AMALGet Rating) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.10. Amalgamated Financial had a return on equity of 11.98% and a net margin of 27.11%. During the same period in the prior year, the company earned $0.32 EPS. Equities research analysts predict that Amalgamated Financial Corp. will post 2.37 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 29th. Stockholders of record on Wednesday, August 10th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.71%. This is a boost from Amalgamated Financial’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, August 9th. Amalgamated Financial’s dividend payout ratio is currently 15.69%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upped their price target on shares of Amalgamated Financial from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, July 1st.

Institutional Investors Weigh In On Amalgamated Financial

Several hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of Amalgamated Financial in the second quarter valued at approximately $126,000. Assenagon Asset Management S.A. boosted its position in shares of Amalgamated Financial by 102.5% in the second quarter. Assenagon Asset Management S.A. now owns 178,440 shares of the company’s stock valued at $3,530,000 after acquiring an additional 90,301 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Amalgamated Financial by 888.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 53,337 shares of the company’s stock valued at $1,055,000 after acquiring an additional 47,941 shares during the period. Harrington Investments INC boosted its position in shares of Amalgamated Financial by 11.0% in the second quarter. Harrington Investments INC now owns 67,365 shares of the company’s stock valued at $1,332,000 after acquiring an additional 6,655 shares during the period. Finally, Arjuna Capital boosted its position in shares of Amalgamated Financial by 0.6% in the second quarter. Arjuna Capital now owns 126,305 shares of the company’s stock valued at $2,498,000 after acquiring an additional 764 shares during the period. 37.25% of the stock is owned by institutional investors.

Amalgamated Financial Company Profile

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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.

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