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

Amalgamated Financial Corp. (NASDAQ:AMAL) EVP Sam D. Brown sold 8,994 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $25.47, for a total transaction of $229,077.18. Following the completion of the sale, the executive vice president now directly owns 45,970 shares of the company’s stock, valued at $1,170,855.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Amalgamated Financial Price Performance

Shares of AMAL opened at $25.49 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average is $23.40 and its two-hundred day moving average is $23.38. Amalgamated Financial Corp. has a twelve month low of $14.05 and a twelve month high of $27.77. The firm has a market capitalization of $777.45 million, a PE ratio of 8.33 and a beta of 0.91.

Amalgamated Financial (NASDAQ:AMAL) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.83 earnings per share 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 the consensus estimate of $75.77 million. Amalgamated Financial had a return on equity of 16.81% and a net margin of 23.22%. During the same period in the previous year, the business earned $0.74 earnings per share. Research analysts anticipate that Amalgamated Financial Corp. will post 3.13 earnings per share for the current year.

Amalgamated Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Tuesday, May 7th. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.10. Amalgamated Financial’s dividend payout ratio (DPR) is currently 13.07%.

Institutional Trading of Amalgamated Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. Edmond DE Rothschild Holding S.A. lifted its position in shares of Amalgamated Financial by 27.4% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 51,867 shares of the company’s stock valued at $1,245,000 after acquiring an additional 11,145 shares during the period. Isthmus Partners LLC increased its stake in Amalgamated Financial by 38.8% in the 1st quarter. Isthmus Partners LLC now owns 136,397 shares of the company’s stock valued at $3,274,000 after purchasing an additional 38,112 shares in the last quarter. ClariVest Asset Management LLC raised its holdings in Amalgamated Financial by 65.9% during the first quarter. ClariVest Asset Management LLC now owns 66,046 shares of the company’s stock worth $1,585,000 after purchasing an additional 26,224 shares during the last quarter. Empowered Funds LLC boosted its position in Amalgamated Financial by 8.1% during the first quarter. Empowered Funds LLC now owns 109,764 shares of the company’s stock worth $2,634,000 after purchasing an additional 8,225 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Amalgamated Financial in the first quarter valued at $126,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and set a $29.00 price objective (up from $28.00) on shares of Amalgamated Financial in a research report on Friday, April 26th. JPMorgan Chase & Co. lowered 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 report on Thursday, April 4th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, April 5th.

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.