Amalgamated Financial Corp. (NASDAQ:AMAL) Director Maryann Bruce Sells 4,403 Shares of Stock

Amalgamated Financial Corp. (NASDAQ:AMAL) Director Maryann Bruce sold 4,403 shares of the stock in a transaction dated 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 directly owns 18,319 shares in the company, valued at approximately $618,632.63. This represents a 19.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Amalgamated Financial Stock Performance

Amalgamated Financial stock opened at $34.60 on Thursday. The company has a market cap of $1.06 billion, a PE ratio of 10.18 and a beta of 0.93. 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’s 50-day moving average is $34.77 and its two-hundred day moving average is $33.02.

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

Amalgamated Financial Increases Dividend

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

Institutional Investors Weigh In On Amalgamated Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. USA Financial Formulas acquired a new position in shares of Amalgamated Financial during the 4th quarter worth about $34,000. R Squared Ltd acquired a new position in Amalgamated Financial during the fourth quarter valued at approximately $38,000. US Bancorp DE raised its holdings in Amalgamated Financial by 28.4% in the third quarter. US Bancorp DE now owns 2,312 shares of the company’s stock worth $73,000 after purchasing an additional 512 shares during the period. CWM LLC boosted its position in shares of Amalgamated Financial by 74.9% during the third quarter. CWM LLC now owns 2,414 shares of the company’s stock worth $76,000 after purchasing an additional 1,034 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Amalgamated Financial in the 3rd quarter valued at $214,000. Institutional investors own 75.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on AMAL. Piper Sandler increased their price target on shares of Amalgamated Financial from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods increased their price objective on Amalgamated Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

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.