Amalgamated Financial (NASDAQ:AMAL) Director Sells $183,095.98 in Stock

Amalgamated Financial Corp. (NASDAQ:AMAL - Get Free Report) Director Edgar Romney sold 6,697 shares of Amalgamated Financial stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $27.34, for a total transaction of $183,095.98. Following the transaction, the director directly owned 16,763 shares in the company, valued at approximately $458,300.42. This represents a 28.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Amalgamated Financial Stock Performance

AMAL stock opened at $27.51 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.10. The firm has a market cap of $828.33 million, a PE ratio of 8.29 and a beta of 0.88. The business has a 50 day moving average of $27.76 and a 200-day moving average of $29.35. Amalgamated Financial Corp. has a 12-month low of $25.03 and a 12-month high of $38.19.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its quarterly earnings results on Monday, December 19th. The company reported $0.46 EPS for the quarter. The business had revenue of $49.68 million for the quarter. Amalgamated Financial had a return on equity of 14.97% and a net margin of 22.97%. As a group, sell-side analysts expect that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Wednesday, November 5th will be given a dividend of $0.14 per share. The ex-dividend date is Wednesday, November 5th. This represents a $0.56 annualized dividend and a yield of 2.0%. Amalgamated Financial's dividend payout ratio is presently 16.87%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AMAL. Alliancebernstein L.P. raised its holdings in Amalgamated Financial by 1,738.5% during the 1st quarter. Alliancebernstein L.P. now owns 767,438 shares of the company's stock valued at $22,064,000 after acquiring an additional 725,695 shares during the period. Boston Trust Walden Corp purchased a new position in shares of Amalgamated Financial in the second quarter valued at $16,974,000. Adage Capital Partners GP L.L.C. raised its stake in shares of Amalgamated Financial by 35.1% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 740,642 shares of the company's stock valued at $21,293,000 after purchasing an additional 192,577 shares during the period. Nuveen LLC bought a new stake in shares of Amalgamated Financial during the 1st quarter valued at $3,416,000. Finally, First Trust Advisors LP lifted its holdings in Amalgamated Financial by 616.8% during the 2nd quarter. First Trust Advisors LP now owns 132,681 shares of the company's stock worth $4,140,000 after purchasing an additional 114,171 shares in the last quarter. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Piper Sandler lowered shares of Amalgamated Financial from a "neutral" rating to an "underweight" rating and lowered their price objective for the stock from $34.00 to $27.00 in a research report on Tuesday, August 5th. Weiss Ratings restated a "hold (c)" rating on shares of Amalgamated Financial in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $33.00.

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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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